Market Watch: Home featured in 'The Fugitive' sells for $2.93 million after 7 years on market
Illinois' highest-in-the-nation property taxes are eroding home equity and depressing home values across the state. This report is part of a Chicago City Wire series on recent home sales that demonstrate the consequences.
The home: 336 W. Wisconsin St.
The home was featured in "The Fugitive," a 1993 crime thriller featuring Harrison Ford and Tommy Lee Jones.
It has 3 bedrooms, 4.5 baths, an elevator, an indoor swimming pool, a glass-floored walkway, a roof-top deck above the three-car garage and a sauna.
The seller: Dr. Norbert Gleicher
A fertility specialist, Gleicher is the founder of the Center of Human Reproduction in New York City.
He is a graduate of the Mount Sinai School of Medicine; and is the founding editor-in-chief of the American Journal of Reproductive Immunology and the Journal of Assisted Reproduction and Genetics.
Gleicher has held a number of academic positions at the Chicago Medical School and has been named among the "best physicians" in reproductive endocrinology and infertility by Chicago Magazine.
The purchase: Gleicher purchased the home in 1992.
The sale: According to Zillow, The doctor originally listed the home for sale in 2011 for $3.95 million, or $4.52 million in today's dollars. The price was dropped later that year to $3.70 million and by 2013 was down to $3.65 million. The asking price continued to fall to $3.1 million last summer before selling for $2.93 million on Dec. 13, or $1.59 million less than the original asking price in today's dollars.
The property taxes: From 2013 to 2017, Gleicher paid $335,643 in property taxes on the home, or 11 percent of the sale price.