Market Watch: Property taxes on Lake Bluff home increase 34.96% over 15 years
The home: 310 Rothbury Court Lane, Lake Bluff
The 3,236-square-foot home has 5 bedrooms, 4 updated baths, a gourmet kitchen with wet bar, a wood- burning fireplace, anew deck, high ceilings, tall windows, dark hardwood floors, a first-floor office, slate flooring in the laundry room and a finished basement. It is on a private cul-de-sac and backs to a nature conservancy.
The seller: Northern Trust Co. (Trustee) and Kari Marie Christopherson (Trustee). Christopherson is the daughter of Weston Robert Christopherson, the late chairman for Northern Trust.
The purchase: In December 2003, Christopherson and the trust paid $860,000 for the home, or roughly $1.17 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In December 2003, Christopherson and the trust paid $860,000 for the home, or roughly $1.17 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Blockshopper.com, the home sold for $720,000 on March 19, or about $454,564 less than the original purchase price, in today's dollars.
The property taxes: Based on data compiled from Blockshopper.com, Christopherson and her family trust paid $80,338 in property taxes between 2013 and 2017, or approximately 11.16 percent of the sale price.
The first year she owned the home, the property taxes were $11,509. Last year, they had climbed to $15,532 for a 34.96% increase.
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.
---
The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $860,000 | $720,000 | $80,338 |
