1421 Eagle Vista Drive, New Lenox | Zillow
1421 Eagle Vista Drive, New Lenox | Zillow
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 home: 1421 Eagle Vista Drive, New Lenox
The 1,816-square-foot home has 3 bedrooms, 2 baths, vaulted ceilings, a fireplace and a fenced yard.
The seller: Thomas J. Shanahan
The purchase: In July 2007, Shanahan paid $305,000 for the home, or roughly $367,865 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Shanahan sold the home for $240,000 on Jan.18, or an estimated $127,865 less than the original purchase price, in today's dollars.
Shanahan originally listed the home for $260,000 in November 2019. He dropped the price in December 2018 to $250,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Stranahan paid $27,796 in property taxes between 2013 and 2017, or approximately 12 percent of the sale price.
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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 |
| $305,000 | $240,000 | $27,796 |
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