Market Watch: Hinsdale home sells for $1.53 million less than 2003 purchase price
The home: 607 W. Maple St., Hinsdale
The 5,673-square-foot home has 6 bedrooms, 6 baths, a 3-car garage, a butler's pantry and walk-in pantry, heated floors, a sunroom, a wine cellar and a recreation room. The home is on a 0.46 acre professionally landscaped lot.
The seller: Maple Garfield LLC
The purchase: In May 2003, Susan Houff paid $2.7 million for the home, or roughly $3.70 million in today's dollars, according to the U.S. Bureau of Labor Statistics. Maple Garfield took ownership in 2017.
The purchase: In May 2003, Susan Houff paid $2.7 million for the home, or roughly $3.70 million in today's dollars, according to the U.S. Bureau of Labor Statistics. Maple Garfield took ownership in 2017.
The sale: According to Zillow, Maple Garfield sold the home for a little over $2.17 million on Jan.10, or roughly $1.52 million less than the original purchase price, in today's dollars.
Maple Garfield originally listed the home for sale in September 2018 for $2.3 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Houff paid approximately $426,675 in property taxes between 2004 and 2016, or 19.62 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 |
| $2,700,000 | $2,175,000 | $426,675 |
