Quantcast

Lake County Gazette

Tuesday, November 5, 2024

Market Watch: Joseph and Janet Page lose over $413,000 on sale of Lake Forest home

Cherokeerdlakeforest

311 Cherokee Road, Lake Forest | Zillow

311 Cherokee Road, Lake Forest | 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: 311 Cherokee Road, Lake Forest

The 4,400-square-foot home has six bedrooms, five baths, with a gourmet kitchen featuring a large marble island. The home sits on a half acre of land.

The seller: Joseph F. Page and Janet L. Page

The purchase: In July 2008, the Pages paid $1.67 million for the home, or roughly $1.19 million in today's dollars. 

The sale: According to Zillow, the Pages sold the home for $1.5 million on Jan.11, or an estimated $413,109 less than the original purchase price, in today's dollars.

The couple originally listed the home for $1.54 million in September 2018. 

The property taxes: The Pages paid $184,650 in property taxes from 2008 to 2017, or 12 percent of the sale price. 

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS