Market Watch: Lana Leonard loses over $87,000 on sale of Normal home
The home: 3511 Tahoe Blvd., Normal
The 5,020-square-foot custom-built home has 5 bedrooms, 5 baths, a gourmet kitchen and a covered patio with a stone fire pit.
The seller: Lana Leonard
The purchase: In February 2015, Leonard paid $534,046 for the home, or approximately $572,702 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In February 2015, Leonard paid $534,046 for the home, or approximately $572,702 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Leonard sold the home for $485,000 on Feb. 4, or roughly $87,702 less than the original purchase price, in today's dollars.
Leonard originally listed the home for $525,000 in September 2018. She lowered the price in October 2018 to $499,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Leonard paid $28,852 in property taxes between 2016 and 2017, or almost 6 percent of the sale price.
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.
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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 |
| $534,046 | $485,000 | $28,852 |
