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It's not unusual for a neighbor to sell a neighbor a piece of adjoining land ... assuming the price was reasonable market value ... I see nothing unusual.
The only question that remains for me is did Rezko buy the land IN ORDER TO sell the strip to the Obamas who otherwise would have been unable to "enlarge their side yard" which they otherwise would not have been able to do on their exising lot... and unfortunately, that sounds like more than a neighborly "favor" ... that sounds like a fairly serious investment IN ORDER TO do this "favor" (it's not the money, I know Rezko is rich, it's the time/effort machinations involved).
It may amount to nothing in real life ... but, yes, this story SHOULD have gone away ... and, yes, there are some "favors" one should decline simply to avoid the appearance of impropriety and, yes, this seems to have been one of them ...
I really want to know what happened to the rest of the Rezko lot and if any zoning variances were required to split the lot.
Such a "favor" certainly falls in the category a deal that's "too good to be true" for most people ... at least without someone expecting something at some time in the future.