Market Watch: Carl & Marlene Mercurio lose over $339,000 on sale of Naperville home
The home: 4502 Clearwater Lane, Naperville
The 4,137-square-foot home has 5 bedrooms, 5 baths, a 3-car garage, a breakfast bar, granite countertops, stainless steel appliances, an office with built-in bookcases, a fireplace, large windows, a finished basement with a billiards area, a wine cellar and a wet bar. The home is on 1.75 acres of land.
The seller: Carl I. & Marlene J. Mercurio
The purchase: In August 2002, the Mercurios paid $780,000 for the home, or roughly $1.09 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In August 2002, the Mercurios paid $780,000 for the home, or roughly $1.09 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Mercurios sold the home for $758,000 on April 23, or approximately $339,274 less than the original purchase price, in today's dollars.
The Mercurios originally listed the home in March for $799,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Mercurios paid $224,868 in property taxes between 2002 and 2017, or about 29.67 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 |
| $780,000 | $758,000 | $224,868 |
