Market Watch: Jill and Andrew Marcus lose over $110,000 on sale of Chicago townhouse
Illinois' highest-in-the-nation property taxes are eroding home equity and depressing home values across the state. This report is part of a SYHN News Service series on recent home sales that demonstrate the consequences.
The home: 2721 N. Greenview Ave., Chicago
The 3,200-square-foot townhouse has three bedrooms and three baths, one of which has a steam shower. It was built in 1992.
The seller: Jill and Andrew Marcus
The seller: Jill and Andrew Marcus
The purchase: In July 2004, the couple paid $790,000 for the home, or roughly $1.04 million in today's dollars.
The sale: According to Zillow, the Marcus family sold the home for $937,500 on Jan. 8, or approximately $110,409 less than the original purchase price, in today's dollars.
They originally listed the home for $975,000 in October 2018 and it stayed at that price point until it sold.
The property taxes: The couple paid $181,863 in property taxes while owning the home, or 19 percent of the sale price.
