Market Watch: Christopher & Jennifer Ardrey lose over $22,000 on sale of Buffalo Grove 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: 66 Copperwood Drive, Buffalo Grove
The 2,096-square-foot home has 3 bedrooms, 3 baths, a finished basement with wet bar and is located in Old Farm Village.
The seller: Christopher A. Ardrey & Jennifer M. Ardrey
The seller: Christopher A. Ardrey & Jennifer M. Ardrey
The purchase: In October 2014, the Ardreys paid $380,000 for the home, or roughly $402,086 in today's dollars.
The sale: According to Zillow, the Ardreys sold the home for $380,000 on Jan.15, or approximately $22,086 less than the original purchase price, in today's dollars.
The Ardreys originally listed the home for $439,900 in July 2018. They dropped the price in August 2018 to $419,000 and again in October to $399,900.
The property taxes: The Ardreys paid $46,575 in property taxes between 2014 and 2017, or an estimated 12 percent of the sale price.
