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© - WINNETKA WEEKLY TALK, SATURDAY, FEBRUARY 14, 1925 17 NEWS OF INTEREST IN REAL ESTATE AND BUILDING FIELDS SUBDIVISION IS VITAL PROBLEM Real Estate Board Suggests Various Plans American cities have realized the im- portance of controlling the development of new subdivisions of land within their corporate limits, but they have failed as yet to realize the importance of proper plans for guiding the planning of the semi-urban areas outside those limits, which will sooner or later be annexed to the cities, according to a study of ex- isting plans for regional subdivision con- trol in 24 representative large cities which has just been made by the Na- tional Association of Real Estate boards. The study was made by the Home Builders and Subdividers division of the] association. Irenaeus Schuler, of Omaha, conducted the inquiry. The information on which the study is based has been furnished by real estate boards, city planning commissions, city engineers, and other officials of the vari- ous cities. Good control of subdivision develop- ment outside corporate limits was found by the survey in 11 of the 24 cities studied, with partial control in three additional cities. Good control of sub- division development inside city limits is reported for 17 of the cities, with partial control in six additional cities. Control of subdivision development in Atlanta, Georgia, as exercised by the city, extends six miles beyond the city limits, the largest control area outside a city's corporate limits found in the sur- vey, Mr. Schuler reported. In only one city, New Orleans, was there no munici- pal control of subdivision development. The making of a master plan for the whole metropolitan area is held by the report to be the most certain way to in- sure orderly development of the city into the surrounding rural regions. Real estate boards are called on to take the leadership in requesting that such master plan be prepared for each large city's guidance. By the term "master plan" is meant a plan to include the territory within a considerable circle outside the limits of the city, based on a complete topographical survey, showing future street extensions and grades to care prop- erly for both local and through travel, and providing for proper drainage. The report recommends that this circle in- clude territory lying within three miles of the city's limits, that distance having been set aside in many cities for the regulation of plats. Income Tax Facts In making out his income tax for the year 1924 the business man, pro- fessional man, and farmer is required to use Form 1040, regardless of whether his net income was or was not in excess of $5,000. The smaller form 1040A is used for reporting in- come of $5,000 or less derived chiefly from salaries or wages. Forms have been sent to persons who last year filed returns of income. Failure to receive a form, however, does not relieve the taxpayer from his obligation to file a return and pay the tax within the time prescribed, on or before March 15, 1925. Copies of the forms may be obtained from offices of collectors of internal revenue and branch offices. The tax may be paid in full at the time of filing the return or in four equal installments, due on or before March 15, June 15, Septem- ber 15, and December 15. The taxpayer must include in his income-tax return for the year 1924 all items of gross income specified by law. In the case of a storekeeper, gross income usually consists of gross profits on sales, together with income from other sources. The return must show the gross sales, purchases, and cost of goods sold. The professional man, lawyer, doctor, dentist, must include all fees and other compensa- tion received from professional serv- ices. The farmer must report as gross income the proceeds of sales or ex- change of products raised on the farm or whether purchased by him and re- sold. He must report also gross in- come. from all other sources, such as rentals or profits from the sale of farm lands. Net income, upon which the tax fis assessed, is gross income less certain deduction for business, expenses, losses, bad debts, contributions, etc. To take full advantage of the deduc- tions to which entitled taxpayers should read carefully the instructions on the form under the heads of "In- come from business or profession." SUPPLY EMBLEM CUTS Cuts of the emblem of the National Association of Real Estate boards are kept on hand by the Miami, Fla. realty board for use of newspapers and print- ing houses. The cuts are available on request of members of the board for ad- vertising, letter head printing, and other purposes. REALTY BOARD HOLDS DINNER Told Profession is Commu- nity Asset Sixty north shore real estate deal- ers attended a banquet given by the North Shore Real Estate board of Suburban Chicago, last Monday eve- ning at the Lake Shore Terrace. Wil- mette, at which it was announced that the board plans to organize chap- ters in each village on the north shore, and hopes to include every dealer on its roster. The chief speaker of the evening was H. U. Nelson, secretary of the National Association of Real Estate boards, which represents 516 boards throughout the country. His address was an explanation of the purposes ind advantages of these organizations. He declared that the real estate sales- man really sells community assets, therefore he is keenly interested in community welfare and growth. He :aid that the business is rapidly be- :oming a profession, and for that rea- -on needs such things as the real estate hoards which formulate a code of athics, establish standards and fix compensation. "The word realtor, "can only be " said Mr. Nelson, used by. a member of the state and national boards. The time is coming, and it is not very far away, when to be successful, a dealer must belong to a board and be a real- tor." Other speakers were H. IL. Wool- hiser, village manager of Winnekta and Max Murdock, secretary of the Illinois State Association of Real Estate boards. Mr. Woolhiser told of the tax situation and the govern- ment in his village and extended to those present an invitation to come themselves or send to him any clients who desired information about any- thing pertaining to village affairs. Mr. Murdock, who is also a Win- netka resident, told of his work in organizing boards and chapters, sim- ilar to those to be organized on the north shore, in other parts of the state. He urged every real estate dealer to join a chapter and become actively interested in the work that all might have a hand in the work being done for their mutual advantage. Quinlan and Tyson Report Active Market in Acreage Quinlan and Tyson's Winnetka office reports a very active market in acre- age west of Winnetka along the proposed electric line. Properties recently sold include 14 acres for Bernard Happ, 12 acres for Fred Breitzman, 16 acres for John Levernier, and 5 acres for Peter W. Sel- Zer., OPPOSES BILLBOARD The Portland, Ore. realty board has gone on record as opposing out-door ad- vertising where it detracts from scenic values. INDIAN HILL SEES BIG REALTY DEALS Two large transactions last week showed that at least in the Indian Hill section north shore real estate is be- available to all real estate people through the book supply service recently opened at headquarters of the National Associa- tion of Real Estate boards, Chicago. That there are fundamental principles underlying the directions of city growth, the distribution of utilities, the currents of travel and the like, and hence under- ginning its usual spring movement. The first of these was the sale of a 12 tract on the east side of Ridge r Kenilworth to the A. H. Kraus company. This tract was a pa { el estate of the late William M. Mae clea and lies north and south of th Melk nd home and across from the Ir Mia I Country club. } The acquisition of this tract 'gives At H. Kraus company control of al dvail- able subdivision property on both' sides of Ridge- road between Kenilworth 'and Winnetka avenues. It is reported that the consideration was nearly $10,000 an acre. The second large sale was the pur- chase by Clarence W. Hubbard from Andrew Thelander of the 28 acres at the southwest corner of Hibbard road and Avoca avenue. This property lies east of the right-of-way of the proposed electric line between Niles and Lake Bluff and between the Indian Hill and Wilmette golf clubs. Carl Lind and Son were the brokers in this deal and it is announced that the land will be ex- tensively landscaped under the direc- tion of Mr. Hubbard, who has extensive nursery interests. HURD'S BOOK PUBLISHED Gives Valuable Hints on City Real Estate Following requests from a number of sources, a new edition has. just been published of Richard M. Hurd's "Prin- ciples of City Land Values." The publication of this edition, the fourth to be issued, will make available again a valuable discussion of the science of city real estate which has been out of print for some time. The book will be added to the list now 6%2% INTEREST is collected semi-annually our customers on Real Estate Gold Bonds and Mortgages sold by our Loan Department . 1 trifugals fofc lying rentals, capitalization rates, and ie values of residence and business Ss, 1 trated in the fact that despite at anges in habits of living about: since the first edition of qos in_1903, the author states that ARiouhd no need for revising his et afements for the new edition. Nhe by: le has become a great cen- in the growth of cities, ['making' available large new areas for residential purposes. The radio has brought" the world to one's own home, and is hence a centripetal influence. The book contains maps illustrating the plan of growth of a hundred or more American and European cities, photo- The Best Buy In Kenilworth Village Vacant Two frontages: 281 ft. and 220 ft, Base 176 ft. This is the most beautiful triangular homesite in the choicest location of distinc- tive Kenilworth. Price Just Reduced $3000 Phone Wil. 1750 CLORE,BUDINGER & SMITH Real Estate--Insurance 1177 Wilmette Avenue Opposite Village Hall graphs illustrating good and bad utiliza- tion of building sites, and a series of plats giving distribution of front foot values in 20 cities. I Know How To Build Homes An 'experienced builder of modern homes would like to meet a financially responsible party who would be interested in building homes on the north shore for speculation. Address A-440 Wilmette Life From Coal to Oil The four hardest heating months are before us. With coal spring means the consumption of a lot of coal to keep the fire going during the warm days, or rebuilding a new one for the snappy mornings and evenings. With oil you only have heat when you need it. MORAL: Buy your oil burner now and save fuel, money and your peace of mind. About the Hart Burner-- ask the man who has one. Service day and night. HART HEAT For information call AYRES-TEFFT CO. Tel. 1146 566 Center St. Winnetka LOANS ON CITY AN SUBURBAN PROPER $2,000 to $1,000,000 or more, 514%, to 6% Installment Loans limited to $100,000 Liberal prepayment privileges with all loans GEORGE H. TAYLOR REAL ESTATE MORTGAGE CO. Real Estate Loan Correspondent THE PRUDENTIAL INSURANCE COMPANY of AMERICA EE University 285 Rogers Park 0272 312 S. Clark Street. Chicago Wabash 1246 Winnetka Bargain Charming 6 Room Brick Dutch Colonial, located in choice sec- tion on 70 foot wooded lot. Owner has cut price to $18,000. HILL & WHEELER, Inc. REALTORS "Homes for Particular People" WILMETTE OFFICE 334 Linden Avenue Tel. Wilmette 93 WINNETKA OFFICE 736 Elm Street Tel. Winnetka 142 Our Home Building and Financing Plan Will appeal to you if you own a lot anywhere between Evans- ton and Waukegan. Get in touch with us for full particulars --No obligation. Lake County Construction Company 10 N. Clark St., Chicago Phone State 8825 General Offices 212 Washington St, Waukegan Phone Waukegan 3031 Cg | | WE RECOMMEND AND SELL OPPERS COILIYT FOR SALE BY Order from your neighborhood dealer today .. Winnetka 643 .Winnetka 734