Market Watch: Dennis W. J. Curtis loses over $316,000 on sale of Glen Ellyn home
The home: 343 Spring Ave., Glen Ellyn
The 3,972-square-foot home has 5 bedrooms, 5 baths, a 3-car garage that has a loft, remodeled white kitchen, Wolf double oven and cooktop, large center island, butler's pantry with wine bar, pantry closet, breakfast room, fireplace, family room with built-in bookshelves, finished basement with radiant heated flooring, fenced yard and a paver patio.
The seller: Dennis W. J. Curtis
The purchase: In September 2004, Curtis paid $935,000 for the home, or roughly $1.25 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2004, Curtis paid $935,000 for the home, or roughly $1.25 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Curtis sold the home for $935,000 on March 8, or approximately $316,600 less than the original purchase price, in today's dollars.
Curtis originally listed the home for a little over $1.06 million in June 2018 and lowered the price in August 2018 to $975,000. The price dropped again in January to $939,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Curtis paid $280,424 in property taxes between 2004 and 2017, or about 30 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 |
| $935,000 | $935,000 | $280,424 |
