Market Watch: James & Kathleen Hagedorn lose over $421,000 on sale of Glenview home
The home: 1213 Spruce Drive, Glenview
The 2,669-square-foot home has 5 bedrooms, 5 baths, a 2-car garage, crown molding, marble surrounded fireplace, a finished basement, a Swainwood beamed ceiling in the living room, and a large patio and backyard. It is on almost 1/3 acre of beautiful woodland, and is close to Roosevelt Park and the pool.
The seller: James & Kathleen Hagedorn
The purchase: In October 2006, the Hagedorns paid $1.19 million for the home, or roughly $1,484,327 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In October 2006, the Hagedorns paid $1.19 million for the home, or roughly $1,484,327 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Hagedorns sold the home for a little over $1.06 million on Jan. 31 or about $421,827 less than the original purchase price, in today's dollars.
The Hagedorns originally listed the home for approximately $1.39 million in July 2017 and dropped the price to $1.29 million in August 2017. They lowered the price again in May and June 2018 to $1.25 million and $1.19 million, respectively. It was last listed in August 2018 for $1.15 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Hagedorns paid $139,868 in property taxes between 2007 and 2017, or an estimated 13.16 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 |
| $1,190,000 | $1,062,500 | $139,868 |
