Market Watch: Socialite Sugar Rautbord loses over $595,000 on sale of Chicago condo
The home: 161 E. Chicago Ave. Unit DE, Chicago
The 2,783-square-foot condo has 3 bedrooms, 3 baths, a library, hardwoods, an eat-in kitchen, large closets and is in a full amenity building with an indoor pool. The condo boasts beautiful lake and skyline city views.
The seller: Donna "Sugar" Rautbord
The purchase: In February 2008, Rautbord paid a little over $1.22 million for corner unit, or roughly $1.47 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In February 2008, Rautbord paid a little over $1.22 million for corner unit, or roughly $1.47 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Rautbor sold the home for $875,000 on March 7, or approximately $595,986 less than the original purchase price, in today's dollars.
Rautbor originally listed the home for a little over $1.39 million in July 2017. She brought the price down in February, August and September 2018 to $1.32 million, $1.29 million and $1.09 million, respectively.
The property taxes: Based on data compiled from Cookcountypropertyinfo.com, Rautbor paid $80,394 in property taxes between 2014 and 2017, or about 9.19 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 |
| $1,225,000 | $875,000 | $80,394 |
