Market Watch: Rebecca & Brian Polatsek lose over $362,000 on sale of Hawthorn Woods home
The home: 37 Copperfield Drive, Hawthorn Woods
The 4,282-square-foot home has 6 bedrooms, 5 baths, crown molding, high-end custom finishes, a gourmet a jetted tub with skylights in the master, large bedrooms, a brick paver patio, a finished lower level with full amenities and a professionally landscaped yard.
The seller: Rebecca & Brian Polatsek
The purchase: In March 2008, the Polatseks paid $795,000 for the home, or $937,165 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In March 2008, the Polatseks paid $795,000 for the home, or $937,165 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Polatseks sold the home for $575,000 on March.12, or $362,165 less than the original purchase price, in today's dollars.
The Polatseks originally put the home on the market for $775,000 in April 2016. In June 2016, the price was dropped to $739,000, raised to $775,000 and then dropped back to $739,000. In May 2018, they raised the price to $749,000, but dropped it to $699,000 in July 2018. In August, September and November 2018, they continued dropping the price to $675,000, $638,000 and $599,000, respectively.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Polatseks paid $152,965 in property taxes between 2009 and 2017, or 26.6 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 |
| $795,000 | $575,000 | $152,965 |
