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The 28.5-acre Blue Heron Farm, a Martha’s Vineyard property, where President Obama and his family has been vacationing for the last 3 years, has been put up for sale.

The owner, William Van Devender, a Republican timber businessman, is asking $24.5 million for the 28.5-acre estate, which is one of just a handful of large private compounds on the 87-square-mile Massachusetts island.

The property is due to be formally listed in mid-September.

The compound, which has hosted the Obamas three years running and has been rented out for $50,000 a week, is on Tisbury Great Pond in the town of Chilmark and includes two homes, equestrian facilities, a bocce ball court and a full gym.

“It’s the quintessential Vineyard property — elegant, understated; it doesn’t reek of nouveau riche stuff,” says Mark Jenkins of Wallace & Co. “Perhaps the new owners will want the Obamas to be their guests.”

The property also offers immediate access to a private beach on the Atlantic Ocean.

The Obamas cut their vacation short this year due to Hurricane Irene; the family returned to Washington a day early on Aug. 26.

Obama isn’t the only president to visit — Bill Clinton attended a 1998 dinner in his honor there.