Market Watch: A Belleville home that was purchased for $249,000 in 2007, just sold for $175,000
The home: 120 Country Club Place, Belleville
The 2,867-square-foot Colonial home has 5 bedrooms, 3 baths, a 2-car garage, 4 spacious bedrooms with walk-in closets, a partially finished walk-out basement, a patio, hardwoods, a sunroom, a wood-burning fireplace in the living room, and a gorgeous kitchen with a large walk-in pantry.
The seller: Melanie and Rebekah Nichols
The purchase: The home sold in 2007 for $249,000 (or $312,704 with inflation). In February 2018, Melanie and Rebekah Nichols paid $190,000 for the home, or $193,976 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: The home sold in 2007 for $249,000 (or $312,704 with inflation). In February 2018, Melanie and Rebekah Nichols paid $190,000 for the home, or $193,976 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Nichols sold the home for $175,000 on April 18, or $18,976 less than the original purchase price, in today's dollars.
The Nichols originally listed the home for $190,000 in early January, but lowered the price at the end of the month to $184,900. They dropped the price in February to $179,900.
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 |
| $190,000 | $175,000 | N/A |
