Market Watch: Park Ridge homeowners lose over $101,000 on sale
The home: 835 Forestview Ave., Park Ridge
The 3,659-square-foot home has 5 bedrooms, 5 baths, a magnificent marble foyer, crown molding, vaulted ceilings, a sitting room, a library, an in-law suite, a veranda off the master suite, an eat-in kitchen and a brick paver patio in the backyard.
The seller: Kimberley Lloyd Ralson and Samuel D. Ralston
The purchase: In June 2013, Lloyd Ralson and Ralston paid $869,000 for the home, or approximately $951,038 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2013, Lloyd Ralson and Ralston paid $869,000 for the home, or approximately $951,038 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Lloyd Ralson and Ralston sold the home for $850,000 on April 17, or roughly $101,038 less than the original purchase price, in today's dollars.
Lloyd Ralson and Ralston originally listed the home in December 2018 for $875,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Lloyd Ralson and Ralston paid $87,171 in property taxes between 2013 and 2017, or about 10.26 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 |
| $869,000 | $850,000 | $87,171 |
