You can also sign-up for our newsletter. Receive weekly news & updates, sent directly to your inbox.

Market Watch: Christine & Timothy Herman lose over $192,000 on sale of Orland Park 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: 13514 Tallgrass Trail, Orland Park

The 4,000-square-foot home has 5 bedrooms, 4 baths, a gourmet kitchen and has custom finishes.

The seller: Christine and Timothy Herman

The seller: Christine and Timothy Herman

The purchase: In September 2008, the Hermans paid $655,000 for the home, or roughly $752,149 in today's dollars, according to the U.S. Bureau of Labor Statistics.

The sale: According to Zillow, the Hermans sold the home for $560,000 on Jan. 25, or approximately $192,149 less than the original purchase price, in today's dollars.

The Hermans originally listed the home for $599,500 in June 2018. They dropped the price in July 2018 to $595,000.

The property taxes: Based on data compiled from and Zillow, the Hermans paid $116,728 in property taxes between 2008 and 2017, or about 21 percent of the sale price. 


The Financial Facts in Today’s Dollars

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

More News