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Market Watch: David Munger loses over $183,947 on sale of Mount Prospect 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: 100 S. Elmhurst Ave., Mount Prospect

The 1,350-square-foot home has 3 bedrooms, 2 baths and has a detached garage. It was built in 1949.

The seller: David P. Munger

The seller: David P. Munger

The purchase: In November 2005, Munger paid $388,500 for the home, or roughly $493,947 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, Munger sold the home for $310,000 on Jan.10, or approximately $183,947 less than the original purchase price, in today's dollars.

Munger originally listed the home for $349,900 in September 2015.  He lowered the price in June 2018 to $325,00 and again in August 2018 to $315,000.

The property taxes: Based on data compiled from and Zillow, Munger paid $74,158 in property taxes between 2006 and 2017, or an estimated 24 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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