Market Watch: Lois Janger loses over $714,000 on sale of Highland Park home
The home: 1693 Violet Court, Highland Park
The 2,777-square-foot home has 5 bedrooms, 3.5 baths, a 2-car garage, a double door entry, hardwoods, vaulted ceilings, a gas fireplace, granite countertops, large cabinets, a finished basement, a back-up generator, a security system and scenic pond views.
The seller: Lois L. Janger
The purchase: In June 2005, Janger paid $975,000 for the home, or roughly $1.27 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2005, Janger paid $975,000 for the home, or roughly $1.27 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Janger sold the home for $560,000 on April 23, or about $714,227 less than the original purchase price, in today's dollars.
Janger originally listed the home for $869,000 in May 2015, but lowered the price in July 2015 to $849,900. In April 2016, the price decreased to $844,000. The price changed three times in May 2016 to $799,000, $844,000 and $799,000. In November 2016, the home price dropped again to $789,000. In January 2017, the price dropped dramatically to $749,000 and again in February of this year to $649,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Janger paid $195,003 in property taxes between 2008 and 2017, or approximately 34.82 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 |
| $975,000 | $560,000 | $195,003 |
