Market Watch: Maridalia Cruz & Marta Testrada lose over $265,000 on sale of immaculate Orland Park mansion
The home: 67 Silo Ridge Road South, Orland Park
The 11,000-square-foot custom home has 7 bedrooms, 6 baths, a 5-car garage, a recreation room, a theater room, a spa shower in the master suite, laundry rooms on all 3 levels, and a resort-style backyard featuring a pool with a water slide, fireplace and hot tub.
The seller: Maridalia Cruz & Marta Testrada
The purchase: In October 2009, Cruz and Testrada paid $1.17 million for the home, or a little over $1.37 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In October 2009, Cruz and Testrada paid $1.17 million for the home, or a little over $1.37 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Cruz and Testrada sold the home for $1.11 million on April 18, or approximately $265,800 less than the original purchase price, in today's dollars.
Cruz and Testrada originally listed the home for a little over $1.49 million in June 2017, but in October 2017 the price was lowered to $1.47 million. They briefly raised the price in June 2018 to $1.49 million; but by July 2017, it was back down to $1.47 million. The price continued to tumble in August and September 2018 to $1.45 million and $1.39 million. It was last listed for a little over $1.29 million in January.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Cruz and Testrada paid $235,483 in property taxes between 2009 and 2017, or about 21.21 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 |
| $1,170,000 | $1,110,000 | $235,483 |
