Market Watch: Robert Jagers & Deborah Turnquest-Jagers lose over $168,000 on sale of Olympia Fields home
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: 98 Graymoor Lane, Olympia Fields
The 3,200-square-foot home has 3 bedrooms, 3 baths, a finished basement and loft. The home was designed by architect Edward Dart.
The seller: Robert Jagers and Deborah Turnquest-Jagers
The seller: Robert Jagers and Deborah Turnquest-Jagers
The purchase: In May 2004, the Jagers paid $425,000 for the home, or roughly $568,356 in today's dollars.
The sale: According to Zillow, the Jagers sold the home for $400,000 on October 21, or approximately $168,356 less than the original purchase price, in today's dollars.
The Jagers originally listed the home for $425,000 in July 2018.
The property taxes: The Jagers paid $106,174 in property taxes from 2004 to 2017, or an estimated 27 percent of the sale price.
