Market Watch: Michelle J. Rev Geoga loses over $157,000 on sale of Willowbrook home
The home: 509 Ridgemoor Drive, Willowbrook
The 9,868-square-foot home has 7 bedrooms, 11 baths, a heated garage, a wood-beamed family room, a fireplace, an art studio, a fitness room, a sauna, a coach house, a gourmet, eat-in kitchen, and a lower level with a theater room, game room and wine cellar. The home has an in-ground pool, oversized spa, private patio and vegetable garden on 1.25 acres.
The seller: Michelle J. Rev Geoga (trustee)
The purchase: In May 2016, Geoga paid a little over $2.06 million for the home, or roughly $2.18 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2016, Geoga paid a little over $2.06 million for the home, or roughly $2.18 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Geoga sold the home for a little over $2.02 million on April 8, or approximately $157,466 less than the original purchase price, in today's dollars.
Geoga listed the home in October 2018 for a little over $2.29 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Geoga paid $66,626 in property taxes between 2016 and 2017, or about 3.29 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 |
| $2,062,500 | $2,025,000 | $66,626 |
