Market Watch: Gerard Dicola & Laura Pieler-Dicola lose over $91,000 on sale of Geneva home
The home: 39W493 N. Hyde Park, Geneva
The 2,200-square-foot home has 4 bedrooms, 3 baths, a covered porch, new stainless appliances, updated modern kitchen cabinetry, hardwoods, large closets, a large backyard and is in the highly sought after Mill Creek Subdivision close to Metra train stations.
The seller: Gerard C. Dicola & Laura Pieler-Dicola
The purchase: In September 2005, the Dicolas paid $340,500 for the home, or approximately $431,126 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2005, the Dicolas paid $340,500 for the home, or approximately $431,126 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Dicolas sold the home for $340,000 on Feb. 15, or approximately $91,126 less than the original purchase price, in today's dollars.
The Dicolas originally listed the home for sale in early December 2018 for $360,000 and they lowered the price that same month to $350,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Dicolas paid $84,509 in property taxes between 2006 and 2017, or approximately 24.86 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.
---
The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $340,500 | $340,000 | $84,509 |
