Market Watch: Henry & Jannine Givray lose over $1.37 million on sale of Chicago home
The home: 1735 N. Honore St., Chicago
The 8,000-square-foot home has 6 large bedrooms, 7 baths, a 4-car garage, a professionally designed dedicated home theater with a commercial quality high-definition 3D projector, walnut flooring, high ceilings, a 2-level outdoor area with a raised terrace, outdoor fireplace, gourmet kitchen with an oversized island, exercise room and storage galore.
The seller: Henry & Jannine Givray
The purchase: In December 2009, the Givrays paid a little over $3.68 million for the home, or roughly $4.29 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In December 2009, the Givrays paid a little over $3.68 million for the home, or roughly $4.29 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Givrays sold the home for $2.92 million on March 29, or approximately $1.37 million less than the original purchase price, in today's dollars.
The Givrays originally listed the home for $3.95 million in October 2014. In July 2016, they lowered the price to $3.99 million. In May 2017, the home was listed at $3.79 million. They dropped the price to $3.5 million in November 2017.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Givrays paid $135,294 in property taxes between 2009 and 2017, or about 4.63 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 |
| $3,686,000 | $2,925,000 | $135,294 |
