Market Watch: Shawn & Dane Drobny lose over $524,000 on sale of Glencoe home
The home: 1070 Hohlfelder Road, Glencoe
The 3,816-square-foot home has 5 bedrooms, 5 baths, a 2-car garage, hardwoods, Calcutta quartz countertops, a 2-story foyer,a loft, a newly renovated spa in the master bath, a first-floor office, a full basement with a recreation room and a brick paver patio.
The seller: Shawn M. & Dave A. Drobny
The purchase: In June 2002, the Drobnys paid $1.15 million for the home, or roughly $1.62 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2002, the Drobnys paid $1.15 million for the home, or roughly $1.62 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Drobnys sold the home for $1.1 million on April 22, or approximately $524,971 less than the original purchase price, in today's dollars.
The Drobnys originally listed the home in February 2018 for $1.3 million. In April and June 2018, they dropped the price to $1.25 million and $1.15 million, respectively. The home was last listed in February for a little over $1.17 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Drobnys paid $415,079 in property taxes between 2002 and 2017, or about 37.73 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 |
| $1,150,000 | $1,100,000 | $415,079 |
