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Market Watch: Lindsey and Heidi Vaughan lose over $391,000 on sale of Western Springs 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: 4353 Hampton Ave., Western Springs

The 3,252-square-foot home has 4 bedrooms, 3 baths, an open floor plan and a finished basement. It is close to the rec center and the Metra station.

The seller: Lindsey and Heidi Vaughan

The seller: Lindsey and Heidi Vaughan

The purchase: In February 2004, the Vaughans paid $755,000 for the home, or roughly $1.02 million in today's dollars, according to the U.S. Bureau of Labor Statistics.

The sale: According to Zillow, the Vaughans sold the home for $629,000 on Feb. 11, or approximately $391,636 less than the original purchase price, in today's dollars.

The Vaughans originally listed the home for $839,000 on March 2011.  They lowered the price in April 2011 to $799,900, but two months later took the house off the market.  In February 2018, they put the house back on the market for $779,000 and dropped the price at the end of the month to $749,000. In April, July and December 2018, they dropped the price to $729,000, $699,000 and $664,000, respectively.

The property taxes: Based on data compiled from and Zillow, the Vaughans paid $199,597 in property taxes between 2005 and 2017, or an estimated 32 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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