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Market Watch: Tracie & Gary Rychanek lose over $144,000 on sale of Naperville home

The home: 918 Winners Cup Court, Naperville

The 2,108-square-foot home has 3 bedrooms, 4 baths, a covered porch, Brazilian hardwoods, wainscoting, a gourmet kitchen with stainless appliances, high ceilings, a fireplace, new carpet, cathedral ceilings in the master suite and a jacuzzi tub.

The seller: Tracie & Gary Rychanek

The purchase: In February 2005, the Rychaneks paid $359,000 for the home, or roughly $473,131 in today's dollars, according to the U.S. Bureau of Labor Statistics

The purchase: In February 2005, the Rychaneks paid $359,000 for the home, or roughly $473,131 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, the Rychaneks sold the home for $329,000 on Feb. 1 or $144,131 less than the original purchase price, in today's dollars.

The Rychaneks originally listed the home for $369,900 in early October 2018. That same month, they dropped the price to $359,900.  In November 2018, they lowered the price again to $349,900.

The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Rychaneks paid $72,377 in property taxes between 2008 and 2017, or about 22 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 PriceAmount Home Sold for in 2019Seller’s Property Taxes

$359,000$329,000$72,377

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