Market Watch: Bradley & Katherine Spirrison lose over $63,000 on sale of Chicago home
The home: 3848 N. Seeley Ave., Chicago
The 1,652-square-foot home has 3 bedrooms, 2 baths, a 2.1-car garage, an oak staircase, whirlpool tub with separate spa bath, granite countertops and a spacious backyard.
The seller: Bradley & Katherine J. Spirrison
The purchase: In August 2015, the Spirrisons paid $860,000 for the home, or $908,341 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In August 2015, the Spirrisons paid $860,000 for the home, or $908,341 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Spirrisons sold the home for $845,000 on Feb. 1, or $63,341 less than the original purchase price, in today's dollars.
The Spirrisons originally listed the home in August 2018 for $899,000. They lowered the price in September 2018 to $889,000. In October 2018, the price dropped again to $869,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Spirrison paid $26,950 in property taxes between 2016 and 2017, or about 3.19 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 |
| $860,000 | $845,000 | $26,950 |
