Market Watch: Richard & Beth Conklin lose over $278,000 on sale of Wilmette home
The home: 718 Linden Ave., Wilmette
The 3,819-square-foot home has 6 bedrooms, 6 baths, a 2-car garage, 2-story foyer, gas fireplace in the living room, granite countertops, large kitchen island, breakfast room with a fireplace, office with built-in book cases, expansive lower level with multiple rooms and a relaxing cedar deck.
The seller: Richard P. & Beth D. Conklin
The purchase: In June 2010, the Conklins paid $1.5 million for the home, or roughly $1.75 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2010, the Conklins paid $1.5 million for the home, or roughly $1.75 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Conklins sold the home for $$1.48 million on May 10, or approximately $278,640 less than the original purchase price, in today's dollars.
The Conklins listed the home for a little over $1.49 million in March.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Conklins paid $254,682 in property taxes between 2010 and 2017, or about 17.21 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 |
| $1,500,000 | $1,480,000 | $254,682 |
