Market Watch: Thomas & Manuela Luri lose over $70,000 on sale of Island Lake home
The home: 747 Dartmouth Drive, Island Lake
The 1,219-square-foot home has three bedrooms, a screened-in porch, a breakfast bar, a closet pantry, a fireplace, skylights, cathedral ceilings and two remodeled bathrooms.
The seller: Thomas & Manuela Luri
The purchase: In January 2008, the Luris paid $210,000 for the home, or roughly $250,424 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In January 2008, the Luris paid $210,000 for the home, or roughly $250,424 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Luris sold the home for $180,000 on March 7, or approximately $70,424 less than the original purchase price, in today's dollars.
The Luris listed the home in February for $190,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Luris paid $39,902 in property taxes between 2010 and 2017, or 22.17 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 |
| $210,000 | $180,000 | $39,902 |
