Market Watch: Gary & Robin Frisch lose over $206,000 on sale of Yorkville home
The home: 1072 Spring St., Yorkville
The 3,450-square-foot home has 5 bedrooms, 4.5 baths, an attached 2-car garage, a first-floor den, large cherry kitchen cabinets, bayed eating area with an island, floor-to-ceiling fireplace in the family room, vaulted ceilings, master bath with a ceramic surround shower, a finished basement, a fenced back yard with scenic pond views and plenty of trails nearby.
The seller: Gary & Robin Frisch
The purchase: In January 2008, the Frisches paid $468,000 for the home, or roughly $563,608 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In January 2008, the Frisches paid $468,000 for the home, or roughly $563,608 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Frisches sold the home for $357,000 on April 19, or approximately $206,608 less than the original purchase price, in today's dollars.
The Frisches originally listed the home for rent in December 2016 at $2,600 per month. In January, the home was put on the market for $400,000. In February, the price dropped to $395,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Frisches paid $59,470 in property taxes between 2012 and 2017, or about 16.66 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 |
| $468,000 | $357,000 | $59,470 |
