Market Watch: Yogi Ghelani loses over $642,000 on sale of Naperville home
The home: 315 Centennial Court, Naperville
The 6,631-square-foot home has 5 bedrooms, 7 baths, an attached garage, a 2-story patio, a walk-out basement, Brazilian cherry hardwoods, glass staircase railings, marble wall with a fireplace, etched bamboo windows, a steam room, an in-law suite, a breakfast nook and second kitchen. There is also a beautiful professionally landscaped rain garden on the property.
The Seller: Yogi Ghelani
The purchase: In October 2010, Ghelani paid $1.8 million for the home, or roughly $2.09 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In October 2010, Ghelani paid $1.8 million for the home, or roughly $2.09 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Ghelani sold the home for $1.45 million on March 15, or about $642,092 less than the original purchase price, in today's dollars.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Ghelani paid $226,218 in property taxes between 2010 and 2017, or approximately 15.6 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 |
| $1,800,000 | $1,450,000 | $226,218 |
