Market Watch: Benjamin Auray loses over $26,000 on sale of Chicago home
The home: 2107 W. Race Ave., Chicago
The 2,052-square-foot home has 2 bedrooms, 3.5 baths, a multi-level rooftop deck and outdoor fireplace, large windows to let the sunshine in, a steam shower with full-body spray and soaking tub in the master bathroom and heated floors.
The seller: Benjamin Auray
The purchase: In July 2014, Auray paid $950,000 for the home, or a little over $1 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2014, Auray paid $950,000 for the home, or a little over $1 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Auray sold the home for $977,500 on Jan. 11, or approximately $26,178 less than the original purchase price, in today's dollars.
Auray originally listed the home in January 2018 at a little over $1.17 million and dropped the price to roughly $1.12 million in March 2018. In May 2018, the price was lowered again to $1.05 million. It was last listed at $999,900 in October 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Auray paid $46,943 in property taxes between 2015 and 2017, or an estimated 5 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 |
| $950,000 | $977,500 | $46,943 |
