Market Watch: Evan Rigterink loses over $161,000 on sale of Lincoln Park home in Chicago
The home: 1114 W. Lill Ave., Chicago
The 4,800-square-foot Lincoln Park home has 6 bedrooms, 5 baths, granite countertops, high-end stainless steel appliances, a cozy living room fireplace, dual walk-in closets in the master sujite, a recreation room with a wet bar and a rooftop deck.
The seller: Evan Rigterink
The purchase: In April 2014, Rigterink paid $1.65 million for the home, or roughly $1.75 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In April 2014, Rigterink paid $1.65 million for the home, or roughly $1.75 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Rigterink sold the home for $1.59 million, or $161,893 less than the original purchase price, in today's dollars.
Rigterink originally listed the home for $1.79 million in June 2018. He lowered the price in August to $1.69 million and again in October to $1.65 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Rigterink paid $95,401 in property taxes between 2014 and 2017, or an estimated 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 |
| $1,650,000 | $1,590,000 | $95,401 |
