Market Watch: Andrea & Gregroy Barrett lose over $124,000 on sale of Wheaton mid-century modern home
The home: 916 W. Elm St., Wheaton
The 4,000-square-foot mid-century modern home designed by Edward Dart has 4 bedrooms, 3 baths, a 3.5-car garage with connected mini garage, wall-to-ceiling windows, oak floors, an open floor plan, Frank Lloyd Wright St. Charles cabinets, a central brick fireplace and lifted patio overseeing the lush large backyard.
The seller: Andrea & Gregroy Barrett
The purchase: In June 2013, the Barretts paid $600,000 for the home, or roughly $646,786 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2013, the Barretts paid $600,000 for the home, or roughly $646,786 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Barretts sold the home for $522,000 on Feb. 20, or about $124,786 less than the original purchase price, in today's dollars.
The Barretts originally listed the home for $600,000 in March 2010 and removed the listing shortly after. It was put back on the market in April 2012 for $600,000 and removed again. It was back on the market in April 2017 when the price jumped to $699,500.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Barretts paid $51,763 in property taxes between 2014 and 2017, or an estimated 9.92 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 |
| $600,000 | $522,000 | $51,763 |
