Market Watch: Edward & Linda Edens lose over $59,000 on sale of Chicago townhome
The home: 1430 N. La Salle Drive Unit E2, Chicago
The 2,000-square-foot townhome has 2 bedrooms, 3 baths, crown molding, walk-in closets, a cozy fireplace, a private entrance and a heated garage.
The seller: Edward and Linda Edens
The purchase: In October 2014, the Edens paid $698,000 for the home, or roughly $739,977 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In October 2014, the Edens paid $698,000 for the home, or roughly $739,977 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Edens sold the home for $680,000 on Feb. 6, or about $59,977 less than the original purchase price, in today's dollars.
The Edens originally listed the home for $749,000 in July 2018 and lowered the price in September 2018 to $699,000. They dropped the price again in October 2018 to $695,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Edens paid $34,140 in property taxes between 2015 and 2017, or approximately 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 |
| $698,000 | $680,000 | $34,140 |
