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 Blockshopper.com and Zillow, the Sjerakoskis paid $143,947 in property taxes between 2005 and 2017, or approximately 14 percent of the sale price.
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The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $879,000 | $1,025,000 | $143,947 |
