Market Watch: Kathleen & Gregory Sujack lose over $195,000 on sale of Chicago 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: 9427 S. Hoyne Ave., Chicago
The 2,160-square-foot home has 4 bedrooms, 2 baths, a wood-burning fireplace and a screened-in porch. It is located on a large lot with a fenced-in backyard.
The seller: Kathleen N. and Gregory P. Sujack
The seller: Kathleen N. and Gregory P. Sujack
The purchase: In August 2003, the Sujacks paid $445,000 for the home, or roughly $605,626 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Sujacks sold the home for $410,000 on Dec. 28, or an estimated $195,626 less than the original purchase price, in today's dollars.
The Sujacks originally listed the home for $425,000 in June 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Sujacks paid $83,115 in property taxes between 2003 and 2017, or approximately 20 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 |
| $445,000 | $410,000 | $83,115 |
