Market Watch: Robert Pattock loses over $282,000 on sale of Darien home
The home: 1215 Chapman Court, Darien
The 3,028-square-foot home has 5 bedrooms, 4 baths, a 2-story foyer, office or den area on the first floor, hardwoods, family room with a fireplace, master suite with vaulted ceilings, finished English basement with a billiards room, wet bar, new roof in 2018 and a brick paver patio with a relaxing gas fire pit.
The seller: Robert T. Pattock
The purchase: In May 2004, Pattock paid $627,000 for the home, or roughly $842,859 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2004, Pattock paid $627,000 for the home, or roughly $842,859 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Pattock sold the home for $560,000 on March 19, or approximately $282,859 less than the original purchase price, in today's dollars.
Pattock originally listed the home for $719,900 in March 2010 and lowered the price in June 2010 to $699,900. The home was re-listed for sale in January for $575,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Pattock paid $128,426 in property taxes between 2005 and 2017, or about 22.93 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 |
| $627,000 | $560,000 | $128,426 |
