Market Watch: Katherine Coyle loses over $128,000 on sale of Chicago condo
The home: 2300 N. Commonwealth Ave. Unit #3I, Chicago
The 769-square-foot condo home has 1 bedroom, 1 bath, hardwoods, stainless steel appliances, a breakfast bar and in-unit laundry hookups.
The seller: Katherine Croyle
The purchase: In April 2006, Croyle paid $315,500 for the condo home, or roughly $398,018 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In April 2006, Croyle paid $315,500 for the condo home, or roughly $398,018 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Croyle sold the home for $270,000 on May 6, or approximately $128,012 less than the original purchase price, in today's dollars.
Croyle originally listed the home for rent from 2015 until 2018 for $1,650 per month. In April, the condo was on the market for $249,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Croyle paid $38,784 in property taxes between 2006 and 2017, or about 14.36 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 |
| $315,500 | $270,000 | $38,784 |
