Market Watch: Michele & Ryan Legg lose over $44,000 on sale of West Chicago home
The home: 2653 Havens Drive, West Chicago
The 3,044-square-foot home has 5 bedrooms, 4 baths, a 2-story entry, exterior cedar trim, a fireplace, a master suite with 2 walk-in closets, a garden tub and a large brick paver patio.
The seller: Michele & Ryan Legg
The purchase: In July 2016, the Leggs paid $419,900 for the home, or roughly $439,241 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2016, the Leggs paid $419,900 for the home, or roughly $439,241 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Leggs sold the home for $395,000 on Jan. 9, or approximately $44,241 less than the original purchase price, in today's dollars.
The Leggs originally listed the home for sale in early October 2018 for $429,108. They dropped the price twice in October 2018 to $424,108 and $419,900. They lowered the price once more in November 2018 to $414,108.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Leggs paid $10,300 in property taxes in 2017, or 2.61 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 |
| $419,900 | $395,000 | $10,300 |
