Market Watch: Jessie & Benjamin Kochalski lose over $54,000 on sale of Chicago townhome
The home: 2024 N. Racine Ave., Unit F, Chicago
The Lincoln Park townhome has 4 bedrooms, 4 baths, a 1-car garage, a gated courtyard, hardwoods, a wood-burning fireplace, a breakfast bar, granite countertops, a recreation room, a large private deck, and a walk-in closet and sitting area in the master suite.
The seller: Jessie F. & Benjamin E. Kochalski
The purchase: In April 2012, the Kochalskis paid $740,000 for the home, or roughly $859,830 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In April 2012, the Kochalskis paid $740,000 for the home, or roughly $859,830 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Kochalskis sold the home for $805,000 on January 10, or approximately $54,830 less than the original purchase price, in today's dollars.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Kochalskis paid $59,514 in property taxes between 2013 and 2017, or 7.39 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 |
| $740,000 | $805,000 | $59,514 |
