Market Watch: Jun Yong Choe & Christina V. Iancu lose over $82,000 on sale of Libertyville home
The home: 15270 W. Pinewood Lane, Libertyville
The 1,512-square-foot home has 3 bedrooms, 2 baths, lots of natural light, hardwoods, a subway tile backsplash in the kitchen, an eating area that is accessible to the side patio, plantation shutters, a giant living room with fireplace and a huge backyard.
The seller: Jun Yong Choe & Christina V. Iancu
The purchase: In March 2008, Choe and Iancu paid $362,500 for the home, or roughly $427,323 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In March 2008, Choe and Iancu paid $362,500 for the home, or roughly $427,323 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Choe and Iancu sold the home for $345,000 on March 7, or approximately $82,323 less than the original purchase price, in today's dollars.
Choe and Iancu originally listed the home in July 2018 for $379,900, but dropped the price in August to $369,900. The home was last listed in November 2018 for $364,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Choe and Iancu paid $53,569 in property taxes between 2009 and 2017, or about 15.53 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 |
| $362,500 | $345,000 | $53,569 |
