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Market Watch: Barbara & Rose Diakos lose over $791,000 on sale of Lincolnwood 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: 6532 N. Nokomis Ave., Lincolnwood

The 5,855-square-foot home has 5 bedrooms, 5.5 baths, a gorgeous backyard with a patio and three cozy fireplaces.

The seller: Barbara and Rose Diakos

The seller: Barbara and Rose Diakos

The purchase: In November 2007, the Diakos paid $1.75 million for the home, or roughly $2.09 million in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, the Diakos sold the home for $1.3 million on Jan. 2, or approximately $791,845 less than the original purchase price, in today's dollars.

The couple originally listed the home for $1.79 million in March 2018 and lowered to price to $1.69 million in May 2018. They dropped the price again in May to $1.59 million, and it was last listed in July 2018 at $1.39 million.

The property taxes: Based on data compiled from and Zillow, the Diakos paid $213,445 in property taxes between 2007 and 2017, or an estimated 16 percent of the sale price. 


The Financial Facts in Today’s Dollars

Seller's Purchase PriceAmount Home Sold for in 2019Seller’s Property Taxes

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