Market Watch: Naperville homeowner lost more than $226,000 on sale
The home: 4135 Teak Circle, Naperville
The 4,409-square-foot home has 4 bedrooms, 3.5 baths, high ceilings, maple hardwoods, bay windows, unique millwork, a breakfast room, a 2-story gas fireplace,a large kitchen, and an outdoor brick patio with a cozy fire pit.
The seller: Unnamed
The purchase: In April 2014, the unnamed seller paid $943,476 for the home, or roughly $1.01 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In April 2014, the unnamed seller paid $943,476 for the home, or roughly $1.01 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the unnamed owner sold the home for $785,000 on March 26 or $226,648 less than the original purchase price, in today's dollars.
The seller originally listed the home for $850,000 in September 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the seller paid $49,233 in property taxes between 2015 and 2017, or about 6.27 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 |
| $943,476 | $785,000 | $49,223 |
