Market Watch: Rachel & Toby Roberts lose over $412,000 on sale of Wilmette home
The home: 627 Lake Ave., Wilmette
The 3,126-square-foot home has 5 bedrooms, 5 baths, a 2.5-car garage, a parking pad with room for 3 more cars, hardwoods, high ceilings, an updated kitchen, high-end appliances, la ower level with a gym, recreation space and a relaxing deck that overlooks a fenced in backyard.
The seller: Rachel & Toby Roberts
The purchase: In July 2007, the Robertses paid a little over $1.3 million for the home, or roughly $1.59 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2007, the Robertses paid a little over $1.3 million for the home, or roughly $1.59 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Robertses sold the home for $1.18 million on April 5, or approximately $412,583 less than the original purchase price, in today's dollars.
The Robertses originally listed the home for a little over $1.29 million in November 2018. They lowered the price in January to $1.25 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Robertses paid $231,297 in property taxes between 2007 and 2017, or about 19.6 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 |
| $1,305,000 | $1,180,000 | $231,297 |
