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Market Watch: Rachel & Mark Dow lose over $540,000 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: 425 Lake Ave., Park Ridge

The 3,781-square-foot home has four bedrooms, fives baths, a theater room, a security system, a wet bar, a jetted tub and a sauna. It was built in 2007.

The seller: Rachel and Mark Dow

The seller: Rachel and Mark Dow

The purchase: In October 2006, the Dows $1.3 million for the home, or roughly $1.62 million in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, the Dows sold the home on January 25 for a little over $1.08 million, or for approximately $540,295 less than the original purchase price, in today's dollars.

The Dows originally listed the home for sale in September 2018 at $1.16 million.

The property taxes: Based on data compiled from and Zillow, the Dows paid $244,575 in property taxes between 2007 and 2017, or an estimated 23 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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