Market Watch: Reina Frater & Zev Eigen lose over $68,000 on sale of Lake Shore condo
The home: 680 N. Lake Shore Drive, Unit 512, Chicago
The 1,700-square-foot condo has 2 bedrooms, 2 baths, a white eat-in kitchen, breakfast room, high ceilings, modern lighting, closet space galore and is in a full-amenity Streeterville building.
The seller: Reina Frater & Zev Eigen
The purchase: In December 2009, Frater and Eigen paid $500,000 for the home, or roughly $588,569 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In December 2009, Frater and Eigen paid $500,000 for the home, or roughly $588,569 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Frater and Eigen sold the home for $520,000 on April 23, or approximately $68,569 less than the original purchase price, in today's dollars.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Frater and Eigen paid $49,446 in property taxes between 2009 and 2017, or about 9.5 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 |
| $500,000 | $520,000 | $49,446 |
