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,t,(i t;¥~·. ndian Hill Club .Neighborhood ~ ~ "!!) ~ "' 0 0 0 DH.Att~ ":.. ~ ~ IJ C.Cp~ (] 0 "1 t. ~ 0 ~p~ ~DAy 0 0 D The two home sites shown above are the only ones available in this choicest of neighborboods. We have a number of acre tracts further away from the stations and ~ebooi-But if you wish the conveniences olered here, your choice is only between the two sites shown above. The Birch Street site ( I 0 Sx 187 feet) is beaatifull y wooded and is opposite one of the finat homes in the neighborhood. Mr. D. M. Rugg of Winnetka is building immediately North of this site. The stelusion a11d rural aspect make it unique. The Chestnut Street site at Hill Road is larger. The auuoandings are unusually good, and it is offered far below tbt prices recendy obtained in this section. We can offer two modern homes in this neighborhood_. Each bas I 0 rooms and 4 baths. One is SSZ,IIIM and the other $5StiiiA Both are ~orth the price. · Real Eatate Salea in 1927 from our Winnetka oHice only OVER ONE MILLION DoLLARS Six· i m p o r t a n t. recommendat~ons governing the makmg of . appraisals and the . conduct of appratsers were unanimously . adopted by the. new Appnisal Division at . the meetmg of Included a"at the vara·ed and somewhat the National Association of Real Estate boards. The recommendations voluminous reports from various are designed to eliminate misleading sources on which the Winnetka Zoninc appraisal practice especially in connec- commission and Village council have tion with real estate bond issues. They been studying the perplexing question are as follows : which has arisen relative to the pro1. No appraiser should accept an posed drastic amendment to the zooorder for a valuation for which his ing ordinance, the following data will employment is contengent upon his prove of interest to all \Vinnetka resappraisal. idents, regardless of ~heir view on the 2. The practice of having one ap- issue involved. praiser make the valuation of land and Many of the proponents have, at another of the building and using the public hearings, voiced approval of the total of the two as the true value is amendment, on the sole grounds that unsound, and is condemned, as is also they are opposed to any apartments. the practice. of basing the appraisal whatever. Others favor restrictions entirely on the capitalized value of the which would practjcally eliminate net income. In appraisals for bond apartments, for the reason ·that such issues where more than one appraiser provisions as they sanction ~"would reoparticipates, aU of the appraisers esti- der the further development of "C" mating the separate units of value, in- commercial area property unprofitable. eluding income, should reconcile their it is claimed. respective appraisals and sign a joint H. H. BrowD Citea F.._ report. Some requested further information 3. An appraisal report should state as to the extent of the "C" commerthe conditions under which the vatu- cial area, and, at the request of a. ation obtains, and when feasible, member of the Winnetka Zoning comshould be in detail. upon a standard mission, the following information was. form furnished by the National Asso- compiled by H. H. Brown, of the firm. ciation. of Murray & Terry, and submitted: 4. An appraiser should have no in- to the officials of the village bodies. terest in the property which is being for their consideration. Mr. Brown. appraised unless his interest is s~- in his report 'says : ifi.cally disclosed in the appraisal re'7. "I have computed the area lying port. within the various districts, elimina5. An appraisal for bond issue ting all of the land owned by the Park should, in addition to showing the fair board, the Village board and Forest cash market value of the property, also Preserve district, also all of the pubshow the appraiser's estimate of gross lie school sites and the church properearnings, operating expenses and re- ties where it is permanently improved. suiting net income. In case the capi"I find there are zoned for clasa talization of the net income and the "A" residence, east of the Northwestvaluation are not reconciled, the rea- · ern railroad, as near as I can figure sons for the difference should be ex- it, 496 1-7 acres of land which, under plained. the zoning ordinance, ·could possibly 6. AU advertisements of bond issues be improved (allowing 6 families to should give the name or names and the acre) to accomodate 2977 families. addresses of the appraisers, and should "West of the railroad, "A" residenquote sufficiently from the appraisal tial, I find that there are 911 1-2 acres report, both as to physical value and of land which could be improved to income, as to reflect correctly the accommodate 5,466 families, and in the opinions and judgment of the apprais- "B" residential district, about 3.6 acer, and certified copies of the full res, which at the rate of 12 to the acre. appraisal report should be available to would accommodate 43 families. Makthe public at all times. ing a total of 8,486 families, which The division further recommended could possibly be accommodated under that all local board members of the the zoning ordinance, in the entire National Association investigate aU class "A" and "B" residential districts. "I have also computed the area of complaints that come to them with respect to any appraisal for a bond all the land now zoned "C" commeris~ue. and that if necessary they hold cial and also "D" industrial, and give a hearing and file the proceedings with the following figures pertaining to the National .association. "C" commercial : "Hubbard Woods---346,925 square Vitrified salt-glazed clay wall coping {eet, being almost exactly eight acres will enduringly protect any type of which, under the ruling of 72 famiJie~ masonry or concrete wall from the ef- to the acre, would accommodate 576 fects of erosion at the top. It is in- families. "Indian Hill-281 ,630 square feet, expensive and easily available in various wi«lths. (Continued on page 54) a AMPLE. FUNDS TO LOAN 5~~--6" LOWEST RATES OF COMMISSION . .· Liat Your Property With Ua! CONSTRUCTION - REFINANCING RESIDENCES, STORES, APARTMENTS Braacb 0 . , Maia Ofict.-Cbica1o s·t Lincoln A venue Wino. 672 6 Branch Offices w ..............t-ta 11 South La SaUt Street, Cbica1o--Ceatral 29,0 Rig,_. P·l& AMft8 R. F. ltah~ 827 L__!acola A-.e., H. P. 1l6o