Market Watch: Aman & Shonna Dhawan lose over $164,000 on sale of Elmhurst townhome
The home: 192 Mayo Court, Elmhurst
The 1,820-square-foot townhome has 3 bedrooms, 3 baths, a 2-car garage, hardwoods, granite countertops, updated kitchen and bathrooms, skylights, a finished basement and fresh paint.
The seller: Aman & Shonna Dhawan
The purchase: In June 2006, the Dhawans paid $439,000 for the home, or approximatey $544,610 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2006, the Dhawans paid $439,000 for the home, or approximatey $544,610 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Dhawans sold the home for $380,000 on Jan. 31, or $164,610 less than the original purchase price, in today's dollars.
The Dhawans originally listed the home for rent in 2017. In June 2018, they put the home up for sale for $415,000. They lowered the home price in July to $405,000 and again in October to $399,900.
[The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Dhawans paid $36,245 in property taxes between 2011 and 2017, or 9.54 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 |
| $439,000 | $380,000 | $36,245 |
