Market Watch: Zaeskes pay more than a quarter of Gurnee home's sale price in taxes
The home: 2530 Bayswater Circle, Gurnee
The 4,873-square-foot home has 4 bedrooms, 4 baths, a 3-car garage, a multi-tiered deck, A white kitchen with granite countertops, stainless steel appliances, a dual shower head in the master bath, A study with coffered ceiling, paver patio with a fire pit and a screened-in porch.
The seller: Cathleen E. & Adam H. Zaeske
The purchase: In November 2006, the Zaeskes paid $691,500 for the home, or roughly $872,360 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In November 2006, the Zaeskes paid $691,500 for the home, or roughly $872,360 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Zaeskes sold the home for $524,000 on April 5, or approximately $348,360 less than the original purchase price, in today's dollars.
The Zaeskes originally listed the home for $635,000 in June 2018 and lowered the price to $585,000 in October 2018. In January, the price was $548,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Zaeskes paid $142,837 in property taxes between 2008 and 2017, or about 27.26 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 |
| $691,500 | $524,000 | $142,837 |
