Dupage Policy Journal

Dupage Policy Journal

Wednesday, October 16, 2019

Market Watch: Jared Gallagher and Leslie Strutzenburg lose over $110,000 on sale of Downers Grove home

Real Estate

By SYHN News Service | Feb 8, 2019


5833 Chase Ave., Downers Grove | 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: 5833 Chase Ave., Downers Grove

The 2,600-square-foot dome-shaped home has three bedrooms, three baths and features a private loft with a beautiful spiral staircase.

The seller: Jared Gallagher and Leslie Strutzenburg

The purchase: In December 2002, Gallagher and Strutzenburg paid $290,000 for the home, or roughly $402,750 in today's dollars, according to the U.S. Bureau of Labor Statistics

The sale: According to Zillow, Gallagher and Strutzenburg sold the home for $292,500 on Jan. 30, or approximately $110,250 less than the original purchase price, in today's dollars.

Gallagher and Strutzenburg originally listed the home for $550,000 in July 2018.  They dropped the price drastically 17 times in 2018.  It was last listed at $300,000 in December 2018.

The property taxes: Based on data compiled from Blockshopper.com and Zillow, Gallagher and Strutzenburg paid $81,779 in property taxes between 2002 and 2017, or about 28 percent of the sale price. 

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The Financial Facts in Today’s Dollars

Seller's Purchase PriceAmount Home Sold for in 2019Seller’s Property Taxes
$290,000$292,500$81,779

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Organizations in this Story

Blockshopper.com U.S. Bureau of Labor Statistics Zillow

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