Market Watch: Cubs' executive loses over $761,000 on sale of Winnetka home
The home: 1220 Lindenwood Drive, Winnetka
The 6,700-square-foot immaculate French Provincial home has 6 bedrooms, 6 baths, a heated 3-car garage, 2-story foyer with circular staircase, high ceilings, large windows, detailed millwork throughout, a breakfast room, a balcony off the master suite, multiple entertainment rooms on the lower level, a wine cellar and a Sonos sound system.
The seller: Crane Kenney, president of Business Operations for the Chicago Cubs
The purchase: In September 2010, Kenney paid a little over $2.58 million for the home, or a little over $3.02 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2010, Kenney paid a little over $2.58 million for the home, or a little over $3.02 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Kenney sold the home for a little more than $2.25 million on May 15, or roughly $761,371 less than the original purchase price, in today's dollars.
Kenney originally listed the home in January for a little more than $2.47 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Kenney paid $329,405 in property taxes between 2010 and 2017, or approximately 14.58 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 |
| $2,582,500 | $2,259,850 | $329,405 |
