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Market Watch: James Conway loses over $192,000 on sale of Western Springs 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: 4441 Harvey Ave., Western Springs

The 1,161-square-foot home has 3 bedrooms, 2 baths, a 3-car garage, beautiful hardwoods and is a split- level residence.

The seller: James Conway

The seller: James Conway

The purchase: In August 2006, Conway paid $432,000 for the home, or roughly $532,283 in today's dollars, according to the U.S. Bureau of Labor Statistics.

The sale: According to Zillow, Conway sold the home for $340,000 on Jan. 31, for approximately $192,283 less than the original purchase price, in today's dollars.

Conway originally listed the home for rent at $2,200 per month in May 2018.  He then listed the home for sale in November 2018 at $365,000.

The property taxes: Based on data compiled from and Zillow, Conway paid $83,392 in property taxes between 2006 and 2017, or an estimated 25 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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