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Market Watch: Christine Hughes loses over $23,000 on sale of Schaumburg 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: 319 Hillside Court, Schaumburg

The 2,773-square-foot home has 5 bedrooms, 5 baths, an open floor plan and a new roof.

The seller: Christine E. Hughes

The seller: Christine E. Hughes

The purchase: In August 1998, Hughes paid $292,000 for the home, or roughly $448,959 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, Hughes sold the home for $425,000 on Dec .31, or an estimated $23,959 less than the original purchase price, in today's dollars.

Hughes originally listed the home for $479,000 in June 2018. She dropped the price to $460,000 in August 2018 and again in September 2018 to $449,900.

The property taxes: Based on data compiled from and Zillow, Hughes paid $157,292 in property taxes between 1999 and 2017, or approximately 37 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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