Market Watch: Sheila Maliekel pays a third of Libertyville home's sale price in taxes
The home: 238 Lake St., Libertyville
The 5,000-square-foot home has 5 bedrooms, 5 baths, a 2-car garage, a 4-story custom staircase, 3 fireplaces, multiple balconies, deep woodwork, detailed millwork, a gourmet kitchen with high-end appliances, a butler's pantry, a finished walk-out lower level and the master suite has scenic views of the property.
The seller: Sheila V. Maliekel
The purchase: In June 2014, Maliekel paid a little over $1.33 million for the home, or roughly $1.69 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2014, Maliekel paid a little over $1.33 million for the home, or roughly $1.69 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Maliekel sold the home for $962,500 on Feb. 11, or $731,556 less than the original purchase price, in today's dollars.
Maliekel originally listed the home for $1.45 million in June 2014. She lowered the price in September, November and December 2018 to $1.35 million, $1.29 million and $1.25 million, respectively. In January 2019, the home was listed for a little over $1.19 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Maliekel paid $305,795 in property taxes between 2005 and 2017, or about 31.77 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 |
| $1,335,000 | $962,500 | $305,795 |
