Market Watch: Thomas Nelson loses over $447,000 on sale of Wheaton home
The home: 1019 James Court, Wheaton
The 4,000-square-foot home has 4 bedrooms, 5 baths, crown molding, a gourmet kitchen with a large island, maple cabinets, tray ceilings, 4 fireplaces, a screened porch and hot tub. The home features an extra 1,800 square feet of finished living space on the lower level.
The seller: Thomas L. Nelson
The purchase: In February 2005, Nelson paid $926,306 for the home, or roughly $1.22 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In February 2005, Nelson paid $926,306 for the home, or roughly $1.22 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Nelson sold the home for $780,000 on March 26, or approximately $447,679 less than the original purchase price, in today's dollars.
The property taxes: Based on data compiled from Blockshopper.com, Nelson paid $102,612 in property taxes between 2013 and 2017, or 13.16 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 |
| $926,306 | $780,000 | $102,612 |
