As officials meet today and tomorrow in Lausanne, Switzerland, to give a 45 minute presentation to the International Olympic Committee, the real estate industry it's hoping it will be a positive outcome.
'Right now the property industry could do with all the help it can get. Having a high profile by bidding for the Olympics and being associated with the man who could be the next President of the United States, will boost interest from investors,' said real estate agent Kenneth J. Withall.
Earlier this month Obama made a surprise appearance at a rally promoting Chicago's bid for the Games. He told the crowd he was already thinking about how much he could rent out his house for during the Olympics as it is just a couple of blocks away from Washington Park, the proposed site for the Games.
If Obama wins he has plenty of time to help out the Olympic bid. A decision on which of the four bidders – Chicago, Madrid, Tokyo and Rio de Janeiro – will be given the Games is due in October 2009.
The next President of the United States will have a key role to play as IOC President Jacques Rogge has said heads of state will remain welcome during the final stage of selecting host cities. That means a U.S. president could spend a few days meeting IOC members in Copenhagen and take part in the city's 45-minute presentation to the members on the day of the vote.
Former Russian President Vladimir Putin and former British Prime Minister Tony Blair both played significant on-site roles before the votes in which the IOC selected Sochi as the 2014 Winter Games host and London as the 2012 Summer Games host.
'Whatever happens Obama is good for Chicago. Recent events shows he is already raising the profile of the city and that can only be good for the real estate industry,' added Withall.
