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Market Watch: Michael and Stephanie Sjerakoski lose over $85,000 on sale of Evanston 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: 1207 Maple Ave., Evanston

The 4,300-square-foot home has 6 bedrooms, 3 baths, oak floors and gorgeous stained glass. The home was built in 1893 but has been beautifully restored and updated. 

The seller: Michael and Stephanie Sjerakoski

The seller: Michael and Stephanie Sjerakoski

The purchase: In September 2005, the Sjerakoskis paid $879,000 for the home, or roughly $1.11 million in today's dollars, according to the U.S. Bureau of Labor Statistics.

The sale: According to Zillow, the Sjerakoskis sold the home for a little over $1.02 million, or an estimated $85,834 less than the original purchase price, in today's dollars.

The Sjerakoskis listed the home for $1.02 million in November 2018.

The property taxes: Based on data compiled from and Zillow, the Sjerakoskis paid $143,947 in property taxes between 2005 and 2017, or approximately 14 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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