Market Watch: Aman Sethi loses over $130,000 on sale of Oak Brook home
The home: 1402 Midwest Club Parkway, Oak Brook
The 4,119-square-foot home in a gated club community has 4 bedrooms, 4 baths, a 3-car garage, vaulted ceilings, a sunroom, a circular drive, private side drive and features beautiful water views.
The seller: Aman Sethi
The purchase: In October 2015, Sethi paid $1.2 million for the home, or roughly $1.27 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In October 2015, Sethi paid $1.2 million for the home, or roughly $1.27 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Sethi sold the home for $1.14 million on Dec. 28, or for $130,000 less than the original purchase price, in today's dollars.
Sethi originally listed the home in April 2017 for a little over $1.39 million and dropped the price in May 2017 to $1.34 million. In June, he lowered the price again to $1.29 million. In October 2018, the price changed twice to $1.34 million briefly and dropped back down to $1.29 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Sethi paid $26,294 in property taxes between 2016 and 2017, or 2.31 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 |
| $1,200,000 | $1,140,000 | $26,294 |
