Market Watch: John A. S. Lindemann Jr. & Marlene Lindemann lose over $991,000 on sale of Bannockburn home
The home: 2200 Wilmot Road, Bannockburn
The 3,787-square-foot brick home has 5 bedrooms, 4 baths, a three-season room, vaulted ceilings and hardwoods custom millwork. The home rests on 4.8 acres of land.
The seller: John A. S. Lindemann Jr. & Marlene Lindemann
The purchase: In July 1994, the Lindemanns paid $950,000 for the home, or roughly $1.61 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 1994, the Lindemanns paid $950,000 for the home, or roughly $1.61 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Lindemanns sold the home for $620,000 on Feb. 6, or approximately $991,363 less than the original purchase price, in today's dollars.
The Lindemanns first listed the home in May 2018 at $1.3 million. In June, they lowered the price to $945,000 and dropped the price again in August to $689,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Lindemanns paid $442,413 in property taxes between 2000 and 2017, or about 71 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 | $620,000 | $442,413 |
