Market Watch: Douglas & Karen Mannion lose over $179,000 on sale of Kildeer home
The home: 20843 W. High Ridge Drive, Kildeer
The 6,094-square-foot home has 6 bedrooms, 7 baths, a 4-car garage, refinished hardwoods, fresh neutral paint, custom cabinets, a white kitchen with stainless steel appliances, a screened-in porch, a 2-story foyer, first-floor study, a master suite with a spa bath and a walk-out basement with activity space galore.
The seller: Douglas A. & Karen A. Mannion
The purchase: In February 2015, the Mannions paid a little over $1.12 million for the home, or roughly $1.22 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In February 2015, the Mannions paid a little over $1.12 million for the home, or roughly $1.22 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Mannions sold the home for a little over $1.04 million on May 15, or approximately $179,817 less than the original purchase price, in today's dollars.
The Mannions originally listed the home in May 2018 for $1.22 million and lowered the price in June 2018 to a little over $1.17 million. They dropped the price again in July 2018 to a little over $1.12 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Mannions paid $104,933 in property taxes between 2015 and 2017, or about 10.04 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 |
| $1,125,000 | $1,045,000 | $104,933 |
