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Market Watch: Julie Keefe loses over $418,000 on sale of Park Ridge 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: 707 S. Prospect Ave., Park Ridge

The home has 4 bedrooms, 3 baths, a large covered front porch, walk-in pantry, a master suite with a separate sitting area and steam heat. It was built in 1917.

The seller: Julie Keefe

The seller: Julie Keefe

The purchase: In August 2007, Keefe paid $789,000 for the home, or roughly $953,374 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, Keefe sold the home for $535,000 on Jan.4, or an estimated $418,374 less than the original purchase price, in today's dollars.

Keefe originally listed the home for $650,000 in early October 2018. She dropped the price in mid-October to $625,000.

The property taxes: Based on data compiled from and Zillow, Keefe paid $160,737 in property taxes between 2007 and 2015, or approximately 30 percent of the sale price.


The Financial Facts in Today’s Dollars

Seller's Purchase Price

Amount Home Sold for in 2019

Seller’s Property Taxes




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