Market Watch: Hinsdale home lost to foreclosure sells for $891K less than 2007 purchase price
The home: 522 W. 58th Place, Hinsdale
The 3,892-square-foot brick home has 4 bedrooms, 6 baths, an attached garage, kitchen island, fireplace, hardwoods, deck, patio and a home library.
The seller: Dupage County Sheriff
The purchase: In May 2007, Judy & Raymond C. Veselik paid $1.4 million for the home, or roughly $1.71 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2007, Judy & Raymond C. Veselik paid $1.4 million for the home, or roughly $1.71 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Blockshopper, the Veseliks lost the home to foreclosure proceedings in February 2018.
The home was placed on the market in October 2018 for $899,900. In November and December 2018, the price was dropped to $885,500 and $875,500, respectively. In January, the price was lowered once more to $839,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Veseliks paid $176,069 in property taxes between 2007 and 2017, or 21.47 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 |
| $1,400,000 | $820,000 | $176,069 |
