Market Watch: Andrew Anel Tessman loses over $89,000 on sale of Prairie Grove condo
The home: 2756 Granite Court, Prairie Grove
The 2,588-square-foot condo has 4 bedrooms, 2 baths, a 1-car garage, granite fireplace, maple cabinets, a breakfast bar, a master suite with a large walk-in closet, a finished basement, a deck and a patio.
The seller: Andrew Anel M. Tessman
The purchase: In January 2005, Tessman paid $197,172 for the home, or roughly $262,829 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In January 2005, Tessman paid $197,172 for the home, or roughly $262,829 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Tessman sold the home for $173,500 on May 6, or approximately $89,329 less than the original purchase price, in today's dollars.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Tessman paid $21,998 in property taxes between 2014 and 2018, or about 12.68 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 |
| $197,172 | $173,500 | $21,998 |
