Market Watch: Andrew Ocken & Ann Shaw lose over $96,000 on sale of Elburn home
The home: 1125 Swan Drive, Elburn
The 3,200-square-foot home has 5 bedrooms, 3 baths, a 2-car attached garage, 6-panel doors, quartz countertops, crown molding, a butler's area, a wine fridge, loft space, finished basement, a backyard deck and spa soaker tub in the master suite.
The seller: Andrew Ocken & Ann Shaw
The purchase: In February 2006, Ocken and Shaw paid $313,500 for the home, or roughly $401,068 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In February 2006, Ocken and Shaw paid $313,500 for the home, or roughly $401,068 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Ocken and Shaw sold the home for $305,000 on April 26, or approximately $96,068 less than the original purchase price, in today's dollars.
Ocken and Shaw originally listed the home for $314,800 in June 2018. A month later, the price dropped to $309,800.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Ocken and Shaw paid $37,401 in property taxes between 2013 and 2017, or about 12.26 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 |
| $313,500 | $305,000 | $37,401 |
