Market Watch: Lori Beth & Dennis J. Morrissey III lose over $130,000 on sale of Northbrook home
The home: 1300 Glenoak Lane, Northbrook
The 4,842-square-foot home has 5 bedrooms, 4 baths, a 4-season room, Thermador stainless appliances, professionally landscaped gardens, and a family room with built-in wall-to-wall bookcases that include a library ladder. Included is a 3-year home warranty.
The seller: Lori Beth & Dennis J. Morrissey III
The purchase: In March 2017, the Morrisseys paid $940,000 for the home, or roughly $980,102 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In March 2017, the Morrisseys paid $940,000 for the home, or roughly $980,102 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Morrisseys sold the home for $850,000 on March 21, or $130,102 less than the original purchase price, in today's dollars.
The Morrisseys originally listed the home for $975,000 in early August 2018. They lowered the price at the end of August 2018 to $949,000. In September, they dropped the price to $924,500. The home was last listed for sale at $899,000 in January.
The property taxes: Based on data compiled from Blockshopper.com, the Morrisseys paid $20,059 in property taxes in 2017, or about 2.36 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.
---
The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $940,000 | $850,000 | $20,059 |
