Market Watch: Mark Wiatr loses over $3,000 on sale of Lemont 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: 11S544 Oakwood Ave., Lemont
The 2,400-square-foot home has 4 bedrooms, 3 baths, stainless appliances, hardwood flooring and a finished basement that could be used as an in-law apartment.
The seller: Mark C. Wiatr
The seller: Mark C. Wiatr
The purchase: In November 1993, Wiatr paid $187,500 for the home, or roughly $323,087 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Wiatr sold the home for $320,000 on Jan. 18, or $3,087 less than the original purchase price, in today's dollars.
Wiatr originally listed the home for $325,000 in November 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Wiatr paid $76,469 in property taxes between 2000 and 2017, or about 24 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 |
| $187,500 | $320,000 | $76,469 |
