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Market Watch: Hewitt Associates loses over $258,000 on sale of Glen Ellen 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: 663 Forest Ave., Glen Ellen

The 2,300-square-foot home has 4 bedrooms, 3 baths, an open floor plan, and is a short walk to the lake and park.

The seller: Hewitt Associates LLC

The seller: Hewitt Associates LLC

The purchase: In March 2007, Hewitt Associates paid $745,000 for the home, or roughly $913,190 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, Hewitt Associates sold the home for $655,000 on Feb. 19, or approximately $258,190 less than the original purchase price, in today's dollars.

Hewitt Associates originally put the home on the market in April 2018 for $795,000.  In May, June and July 2018, they lowered the price to $785,000, $775,000 and $765,000, respectively.  They dropped the price twice more in August 2018 to $760,000 and $749,500. In September, they lowered the price to $699,000.  In December 2018, the price was at $695,000.  The home was last listed in January at $690,000.

The property taxes: Based on data compiled from and Zillow, Hewitt Associates paid approximately $159,167 in property taxes between 2008 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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