Market Watch: St. Charles homeowner loses over $68,000 on sale
The home: 316 Park Ave., St. Charles
The 3,028-square-foot home has 5 bedrooms, 5 baths, a gourmet white kitchen with custom cabinets, a walk-in dressing room in the master suite, a fireplace in the family room, a finished lower level, privacy fencing and a elaxing patio in the backyard.
The seller: Kevin T. Andrew (Trust)
The purchase: In July 2015, Andrews paid $789,000 for the home, or roughly $840,402 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2015, Andrews paid $789,000 for the home, or roughly $840,402 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Andrews sold the home for $772,000 on May 10, or approximately $68,402 less than the original purchase price, in today's dollars.
Andrews originally listed the home for $895,000 in April 2018 and lowered the price in August to $845,000. In January, the home was listed at $799,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Andrews paid $54,315 in property taxes between 2015 and 2017, or about 7.04 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 |
| $789,000 | $772,000 | $54,315 |
