Market Watch: Jill & Kevin Ripley lose over $39,000 on sale of Elmhurst home
The home: 687 S. Fairview Ave., Elmhurst
The 3,600-square-foot home has 5 bedrooms, 5 baths, 10-foot ceilings, hardwoods, a first-floor office, custom window treatments, Knotty Alder cabinetry, a gourmet kitchen, a finished basement, a fenced yard with a fountain and a fireplace.
The seller: Jill A. & Kevin L. Ripley
The purchase: In June 2012, the Ripleys paid $830,000 for the home, or roughly $924,292 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2012, the Ripleys paid $830,000 for the home, or roughly $924,292 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Ripleys sold the home for $885,000 on May 24, or approximately $39,292 less than the original purchase price, in today's dollars.
The Ripleys originally listed the home for $900,000 in March. They lowered the price in May to $885,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Ripleys paid $100,881 in property taxes between 2012 and 2017, or 11.4 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.
---
The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $830,000 | $885,000 | $100,881 |
