Market Watch: Donald J. McFarland loses over $308,000 on sale of Hinsdale home
The home: 503 S. Grant St., Hinsdale
The 3,105-square-foot home has 5 bedrooms, 6 baths, a 2-car garage, a finished basement, 9-foot ceilings, an exercise room, a wet bar, a fireplace and a security system. It is in the center of town and steps away from the train station.
The seller: Donald J. McFarland
The purchase: In November 2005, McFarland paid $1.06 million for the home, or roughly $1.35 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In November 2005, McFarland paid $1.06 million for the home, or roughly $1.35 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, McFarland sold the home for $1.05 million on Feb. 14, or approximately $308,556 less than the original purchase price, in today's dollars.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, McFarland paid $229,889 in property taxes between 2005 and 2017, or an estimated 21.89 percent of the sale price.
lllinois' 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.I
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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 |
| $1,066,500 | $1,050,000 | $229,889 |
