Market Watch: Todd & Jennifer Cromheecke lose over $304,000 on sale of Western Springs home
The home: 4109 Johnson Ave., Western Springs
The 3,277-square-foot brick colonial home has 5 bedrooms, 4 baths, a breakfast room, a finished lower level with a recreation room and an exercise room.
The seller: Todd C. and Jennifer B. Cromheecke
The purchase: In May 2005, the Cromheeckes paid $930,000 for the home, or roughly $1.2 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2005, the Cromheeckes paid $930,000 for the home, or roughly $1.2 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Cromheeckes sold the home for $900,000 on Feb. 22, or approximately $304,177 less than the original purchase price, in today's dollars.
The home was originally listed in January at $925,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Cromheeckes paid $93,715 in property taxes between 2013 and 2017, or about 10 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 |
| $930,000 | $900,000 | $93,715 |
