Market Watch: Jessica Lauren & Dean Barber lose over $255,000 on sale of Glencoe home
The home: 1165 Fairfield Road, Glencoe
The 7,179-square-foot home has 5 bedrooms, 8 baths, a 4-car garage, 10-foot tray vaulted ceilings, wainscoting, crown molding, cherry and stone flooring, a library, a walk-in pantry, spa bath in the master suite a theater room, an exercise room and a bathroom attached to every bedroom.
The seller: Jessica Lauren and Dean Barber
The purchase: In September 2015, Lauren and Barber paid a little over $2.07 million for the home, or roughly $2.19 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2015, Lauren and Barber paid a little over $2.07 million for the home, or roughly $2.19 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Lauren and Barber sold the home for $1.94 million on March 8, or approximately $255,055 less than the original purchase price, in today's dollars.
Lauren and Barber originally listed the home for a little over $2.19 million in May 2018, but lowered the price in July to $2.15 million. In August, September and October 2018, they lowered the price to $2.09 million, $2.04 million and $1.99 million, respectively. The home was last listed for sale at $1.96 million in February.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Lauren and Barber paid $97,971 in property taxes in 2016 and 2017, or about 5.1 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 |
| $2,075,000 | $1,940,000 | $97,971 |
