Market Watch: N P Dodge Jr. loses over $345,000 on sale of Glenview home
The home: 1620 Monterey Drive, Glenview
The 4,744-square-foot home has 5 bedrooms, 6 baths, a two-car attached garage, an office, an exercise room, a recreation room, a fireplace, butler's pantry, a patio and a fire pit perfect for entertaining.
The seller: N P Dodge Jr. (Trustee)
The purchase: In December 2009, Dodge paid $1.16 million for the home, or roughly $1.36 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In December 2009, Dodge paid $1.16 million for the home, or roughly $1.36 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Dodge sold the home for $1.02 million on March 26, or approximately $345,481 less than the original purchase price, in today's dollars.
The home was originally listed in September 2018 for $1.3 million. The price was lowered twice in October 2018 to $1.25 million and $1.19 million. The price dropped again in November 2018 to $1.14 million. The home was last listed for sale in January for a little over $1.11 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Dodge paid $186,182 in property taxes between 2009 and 2017, or 18.25 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 |
| $1,160,000 | $1,020,000 | $186,182 |
