Market Watch: Shari Coe loses over $1.03 million on the sale of her Riverwoods home
The home: 6 Vernon Trail, Riverwoods
The 6,412-square-foot home has 7 bedrooms, 7 baths, a 3-car garage, built-in bookshelves in the library, a gourmet kitchen with high-end appliances, a large pantry, a huge walk-in closet in the master suite, spa-like master bath, high ceilings and a gorgeous wrap-around deck with a jacuzzi.
The seller: Shari Coe
The purchase: In February 1999, Coe paid $1.2 million for the home, or roughly $1.85 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In February 1999, Coe paid $1.2 million for the home, or roughly $1.85 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Coe sold the home for $820,000 on March 19, or approximately $1.03 million less than the original purchase price, in today's dollars.
Coe originally listed the home for a little over $1.17 million in August 2017 and lowered the price in September 2017 to $1.12 million. In October and November 2017, she continued to drop the price to $1.04 million and $999,000. In June, July and October 2018, the price plunged to $959,000, $925,000 and $914,900, respectively. She lowered the price once more in November 2018 to $879,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Coe paid $457,402 in property taxes between 2000 and 2017, or 55.78 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 |
| $1,200,000 | $820,000 | $457,402 |
