You can also sign-up for our newsletter. Receive weekly news & updates, sent directly to your inbox.

Market Watch: Kevin & Kristen Otterness lose over $263,000 on sale of Yorkville 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: 2901 Alden Ave., Yorkville

The 4,043-square-foot home has 5 bedrooms, 3 baths, an unfinished basement and an outdoor fireplace. 

The seller: Kevin J. and Kristen M. Otterness

The seller: Kevin J. and Kristen M. Otterness

The purchase: In December 2006, the couple paid $517,500 for the home, or roughly $645,495 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, Otterness's sold the home for $382,000 on Feb. 15, or approximately $263,495 less than the original purchase price, in today's dollars.

They originally listed the home for $400,000 in March 2018.  They dropped the price in June 2018 to $398,000 and again in July 2018 to $394,000.

The property taxes: Based on data compiled from and Zillow, the Otterness's paid $54,788 in property taxes between 2013 and 2017, or about 14 percent of the sale price.


The Financial Facts in Today’s Dollars

Seller's Purchase PriceAmount Home Sold for in 2019Seller’s Property Taxes


More News