Market Watch: Therese King & Elias Nohos lose over $237,000 on sale of Wheaton 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: 1007 Kingston St., Wheaton
The 3,010-square-foot home has 5 bedrooms, 5 baths, and an open floor plan. It is a short walk to the train station and children can attend highly ranked District 41 schools.
The seller: Therese C. King & Elias L. Nohos
The seller: Therese C. King & Elias L. Nohos
The purchase: In July 2005, King and Nohos paid $663,000 for the home, or roughly $852,443 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, King and Nohos sold the home for $615,000 on Feb. 15, or approximately $237,443 less than the original purchase price, in today's dollars.
King and Nohos listed the home for sale at $629,000 in September 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, King and Nohos paid $167,231 in property taxes between 2006 and 2017, or 27 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 |
| $663,000 | $615,000 | $167,231 |
