Market Watch: Anna Kabakov loses over $370,000 on sale of Hawthorn Woods home
The home: 18 Hawthorn Grove Circle, Hawthorn Woods
The 2,973-square-foot home has 4 bedrooms, 3 baths, a 3-car garage, vaulted ceilings, hardwoods, fresh paint, full English basement, kitchen with a double oven, granite countertops and water views. It is located on a 0.94 acre lot.
The seller: Anna Kabakov
The purchase: In May 2004, Kabakov paid $622,000 for the home, or roughly $840,565 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2004, Kabakov paid $622,000 for the home, or roughly $840,565 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Kabakov sold the home for $470,000 on May 15, or approximately $370,565 less than the original purchase price, in today's dollars.
Kabakov originally listed the home for $569,000 in April 2017. She lowered the price in February and March 2018 to $559,000 and $549,000, respectively. The price dropped twice in May 2018, to $537,000 and $499,900. This April, the home was listed at $500,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Kabakov paid $136,847 in property taxes between 2008 and 2017, or about 29.11 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 |
| $622,000 | $470,000 | $136,847 |
