Market Watch: Joyce & Howard Nathan lose over $296,000 on sale of Long Grove home
The home: 4628 Twin Lakes Lane, Long Grove
The 2,417-square-foot ranch-style home has 3 bedrooms, 3 baths, beautiful gardens and a fireplace.
The seller: Joyce Nathan and Howard Nathan
The purchase: In November 2004, the Nathans paid $590,000 for the home, or roughly $776,060 in today's dollars.
The purchase: In November 2004, the Nathans paid $590,000 for the home, or roughly $776,060 in today's dollars.
The sale: According to Zillow, the Nathans sold the home for $480,000 on Jan.15, or an estimated $296,060 less than the original purchase price, in today's dollars.
The Nathans originally listed the home for $485,000 in October 2018.
The property taxes: The Nathans paid $113,583 in property taxes between 2008 and 2017, or approximately 24 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.
