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WINNETKA WEEKLY TALK, SATURDAY, FEBRUARY 21, 1925 NEWS OF INTEREST IN REAL ESTATE AND BUILDING FIELDS FOREGO RENT CONTROL BILL U. S. Senate Tables District of Columbia Act Following the opposition of the Na- tional Association of Real Estate boards and member real estate boards throughout the United States to the Whaley Bill, providing governmental rent control in the District of Colum- bia, the joint congressional committee on the District of Columbia has tabled the bill and has reported out a new bill in its place. The new bill, Senate Bill No. 4227, provides for the re-enactment and con- tinuation for a period of two years of the temporary rent control act passed during the war-time housing emer- gency in Washington. Would Avoid Pyramiding A provision designed to prevent fraudulent transactions respecting real estate, particularly the "pyramiding" of trusts to give property an apparent sales value not warranted by actual |000 sales, and a provision to give the Dis- trict of Columbia a real estate license law, have been added to the new rent control measure. The basis upon which the new rent control proposal is made is modified somewhat from the basis attempted in the Whaley Bill. Instead of making the claim that all residential rental property is affected with a public in- terest, the new bill bases itself upon the relation of rental property and apartments in the District of Columbia. specifically, to the public interest, and upon the claim that re-enactment of the former rent control measure is necessary in order that Congress may fulfill its duty of guarding the health, comfort, and general welfare of officers and employees of the Federal govern- ment. The measure as first enacted during the war period was based specifically on the existence of a housing emer- gency. The Supreme Court of the Dis- trict of Columbia has recently declared that measure unconstitutional on the grounds that no emergency any longer exists. Victory for Property Owners illing of the bill providing for nent Federal rent control for of Washington is a victory for owners throughout the coun- y for the rights of private prop- arty, officers of the National Associa- - tion of Real Estate boards point out. The association, they state, regrets, however, that the congressional com- mittee in charge has seen fit to recom- mend the enactment of any form of rent control, even though the provision is made as a temporary one. Banking associations ahd other busi- ness associations have joined with the realty organizations in opposing the passage of the bill as an unwarranted curtailment of the right of an owner to the use of his own property, and as unsound economically. The existence of government rent control, the association holds, would tend to discourage the building of res- idential rental properties, to stop the normal flow of investment funds into such properties, thus perpetuating the very condition which the bill was pro- posed to relieve. Want License Law The Washington Real Estate board, while it favors the passage for the Dis- trict of Columbia of a real estate li- cense law such as is now in force in 18 states, and while it has gone on record as supporting any construc- tive legislation to overcome fraud in handling mortgages or real estate sales, has made a formal statement that it is compelled to oppose the pres- ent bill because of the proposal it con- tains to extend Federal rent control in the district another two years. The Washington board is calling on real estate boards throughout the country to help them defeat the new bill also, on the ground that it is a step in the direction of a permanent governmental control of residential rental property. Begin Work on Hubbard Woods Paving Project Improvements in the. Hubbard Woods business district will soon be in full swing. It is thought that the actual work of paving will start March 1, and already work has started on removing trees, preparatory to the widening of Linden avenue to 40 feet. The village and the Illinois Bell Tele- phone company are also at work remov- ing the overhead pole lines on Linden avenue and Tower road, getting ready for the new ornamental lighting system which is to be installed. This work is expected to begin April 1. It will require a great deal of under- ground conduit construction, and prom- ises to make a marked improvement in the appearance of the Hubbard Woods business section. LN ON NN NN NN NN NN NNN | Read All the Want-Ads NNN NN NN NNN NNN NANNY] PREDICT GREAT BUILDING YEAR $5,000,000,000 is Estimate of Forum for 1925 Total value of prospective building for 1925 is forecast as approximately $4,992,318,000 by a computation based on actual prospective construction now in the hands of architects. The com- putation has just been made by the Architectual Forum. The prediction, which will be inter- esting to real estate operators through- out the National Association of Real Estate boards, and to all builders and prospective builders, is based on con- fidential reports from 1,562 architects as to the value of actual prospective construction now in their offices. The prospective total forecast by the Forum for 1924 was $5,560,367,700. 1924 Record Year The actual volume of new building completed during the year has been estimated as approximately $5,750,000,- "It seems almost incredible that the tremendous momentum established in the building field should continue al- most unabated through another year," the report states. "But when it is realized that the building shortage in this country is still approximately five billion dollars, and that the normal rate of building is from three to three and a half billion, the continuation of this activity becomes logical." The Forum's estimate is based on a volume of actual prospective construc- tion at present in the offices of the architects reporting, totaling $1,664,- 106,000. The demand for various types of buildings as shown by comparison with the corresponding report of last vear. The demand for apartments is indicated to have increased from 9.8 percent of the total demand to 10.2 percent. Apartment hotels have gone down from 5 percent of the total de- mand to 4 percent. Small Homes in Demand Dwellings in the class under $20,000 went up in prospective construction from 4.1 percent to 4.5 percent, dwell- ings from $20,000 to $50,000 in value indicate a demand level with last year. Dwellings over $50,000 in value show a lessened prospective building total. Office buildings, industrial buildings, and stores all show a small increase. Automotive buildings show a slight raise, banks a slight decrease in de- mand. Churches went up from 5.8 per- cent of the total to 8 percent. Hotels show a decrease from 13 percent to 9.2 percent. Public buildings, club build- ings, and schools show slight increases. Hospitals, welfare buildings and thea- ters show slight decreases. WASHINGTON WA> GOOD REAL ESTATE BROKER George Washington was a real estate man, a subdivider. And if he had lived later, or the National Association of Real Estate boards had been estab- lished earlier, he undoubtedly would have been a member. Because that is precisely the kind of man he was, ac- cording to an article by Frank Par- ker Stockbridge which is to appear mn Collier's Weekly for February 21. It was in the historic surveying trip into western Virginia when Washing- ton was 16 years old that the future first president learned much about the buying and selling of real estate. He was to put it to use later when with his older brother Lawrence and his pa- tron, Lord Fairfax, he took an active part in the development of the new little city of Alexandria. The surveyor of the partnership was active in the subdivision and sale of lots. So active and so successful that he went on to a more extensive land settlement en- terprise in the undeveloped land at the headwaters of the Ohio, the tract his early surveying trip had made him familiar with. Helped Settle Claims The French and Indian war was oc- casioned, in large part, by the rival SALESMAN WANTED A high grade man resid- ing in Kenilworth, Win- netka, Glencoe or High- land Park, apply at our Winnetka or Chicago of- fice. Fredk.B. Thomas & Co. Realtors claims of the French to the territory part of which was being settled by the Ohio Company, in which Washington was a shareholder. The war bulks large in the histories, but to the man Washington his part in it was a mat- ter incidental to his business career, the author feels assured. When it was over he settled into the real estate business in earnest. "There was nothing austere about the George Washington of 26, with a mouth like Rudy Valentino's," Mr. Stockbridge writes, basing the new Valentino-Davy Windsor conception of Washington on a miniature painted when he was 25 and a small town real estate agent in Alexandria. "He join- ed everything there was to join. If there had been a Rotary club or a real estate band or a chamber of com- merce, George Washington, the 'reg- ular fellow' would surely have been a member." Set a Fast Pace As a real estate speculator Washing- ton set a pace which few of his suc- cessors have followed with the same daring, the article states. He became the first American millionaire, and easily the richest man in America. A fortune of the same size today would be counted at somewhere around $10,- 000,000. Not a stone remains of Washington's real estate office in Alexandria, on Cameron street just east of St. Asaph. A bronze tablet in front of the vacant 'ot indentifies the spot where his town house stood and where he maintained his office. OAK PARK TAKES COUNT Both New Trier quintets walked over their opponents from Oak Park at the New Trier gym last week. The Gray and Green heavies won by a score of 27-16 and the lights rolled up a total of 38 against Oak Park's 18. Both teams played a very fast and steady came. It was the best brand of bas- ketball they have displayed this sea- son. From Coal to Oil inj . 0H N oi Hours o TO0H Ask any o HART user 60H about his Service and : cost of op- 50H erating o Hart Heat. oH The Spring . months show the greatest 30H waste in heating with coal. You surely can not afford . to heat with coal next 20H Winter. Install your burn- er now and know that you . are ready for the following 104 Season. ° Ask us how you can save o money by installing now. "Jl HART HEAT For information call AYRES-TEFFT CO. Tel. 1146 566 Center St. Winnetka Tax-paying Faces Delay This Season, Says Hale General taxes will be delayed again this year as the tax books have not yet been received, according to an announce- ment issued by Sanborn Hale, township tax collector. However, it is believed that some of the books will be in next week and bills will be mailed out as fast as possible. Mr. Hale urges Winnetkans to pay their taxes on time so that the park boards, and schools and other local tax- ing bodies may have their money on time. The tax books usually close March 19, but there may be an extension this year, he said, because of the delay in getting the books. Paying with separate checks for the personal property and real estate tax bills will enable the collector to render faster service and a self-addressed stamped envelope will expedite the re- turn of the receipt. New Franklin Building Sold to Carlton Prouty The Franklin building, Linden and Elm streets, has been sold by George F. Gonsalves, owner and builder, to Carlton Prouty, well known Winnet- kan, director of the Winnetka State Bank and former owner of the Prouty huilding and annex at Elm street and Prouty Annex. The transaction was said to have been closed this week at a considera- tion approximating $200,000. Mr. Gonsalves erected the Franklin building within the past year and it is regarded as one of the finest store the and office structures on north shore. A little fixture here and there Helps to make a home most fair. -- Mr. Electro-serve. E will supply you with the fixtures or globes or lamps you want at an at- tractive figure. We will install them for you and wire the house in a man- ner of celerity that will not disturb your daily routine. Ask us to tell you the cost? MA--<0MWY u ¢ - 4 WPA Read All the Want-Ads Linden Crest Apartments Linden Avenue and Fifth Street WILMETTE od Al BI Li one of the Shore suburbs. surroundings with lawns. unique features. immediately. One of the Courts of the Linden Crest. Live in Wilmette most a Beautiful of home--servants, Inspect the Apartments. You will be delighted with You can move in For Information call R. T. Davis, owner, Main 3012 or Wilmette 589 or see Janitor at Building Linden Ave. and Fifth St. WILMETTE attractive North suburban none of the cares heating, care of their many WINDOW SHADES Cleaned or Replaced H. N. Blasius Co. Winnetka 1125 14 Prouty Annex SELECTED INVESTMENTS! Our bonds and mortgages are selected with the great- est care as to security. We purchase all invest- ments offered for our own account. Call for list of securities. RTS ONOLEE: University 285 Rogers Park 0272 Southwest Winnetka Almost New 6 Room Home, Center Hall, Large Living Room, Heated Breakfast Porch, 3 Large Bed Rooms, with Tile Bath and Heated Sleeping Porch on second floor, 2 Car Garage, Beauti- ful 60 foot Lot. Price $24,000. HILL & WHEELER, Inc. REALTORS "Homes for Particular People" WILMETTE OFFICE 334 Linden Avenue Tel. Wilmette 93 WINNETKA OFFICE 736 Elm Street Tel. Winnetka 142 ee MONEY To Loan on Improved Well Located Real Estate Amounts $1,000 to $60,000 5%% to 6% Interest Low Commissions Irvin Jacobs & Company 105 South La Salle Stieet CHICAGO Telephone Randolph 2350 $11,500 Wilmette Home Small Down Payment Lot 50x187 FRAME AND STUCCO H.W. Heat Near Transportation This is one of the few un- usual bargains that turn up from time to time ACT QUICKLY Phone Wil. 1750 CLORE,BUDINGER & SMITH Real Estate--Insurance 1177 Wilmette Avenue Opposite Village Hall Re. nada' i a oo 53 dre