Market Watch: Laura & Phillip Dutton lose over $683,000 on sale of South Barrington mansion
The home: 45 Pentwater Drive, South Barrington
The 10,000-square-foot mansion has 5 bedrooms, 7 baths, a 4-car garage, vaulted ceilings, an in-law arrangement, a media room, game room, sun room, exercise room, bonus room and has a patio deck. The home rests on 1.99 acres and is an immaculate waterfront property.
The seller: Laura & Phillip Dutton
The purchase: In April 2005, the Duttons paid $1.2 million for the home, or roughly $1.58 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In April 2005, the Duttons paid $1.2 million for the home, or roughly $1.58 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Duttons sold the home for $905,000 on Feb. 4, or approximately $683,742 less than the original purchase price, in today's dollars.
The Duttons originally listed the home for $1.39 million in October 2015, but lowered the price in June 2016 to $1.29 million. The dropped the price again in August 2017 to $1.19 million and again in April 2018 to $1.09 million. The home was last listed for sale in June 2018 for $1.05 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Duttons paid $324,877 in property taxes between 2005 and 2017, or about 35.9 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 |
| $1,200,000 | $905,000 | $324,877 |
