The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

WINNETKA WEEKLY TALK, SATURDAY, APRIL 11, 1925 21 NEWS OF INTEREST IN REAL ESTATE AND BUILDING FIELDS Your Insurance Edited By F. J. Budinger There is always a question in the mind of the property owner as to the correct amount of fire insurance to carry. Unless one is an expert ap- praiser it is unquestionably a difficult task. Insurance companies have of- fered suggestions from time to time and fire insurance agents who are really in the field to serve have ren- dered valuable assistance in this mat- ter. Nevertheless it is safe to say that right here in Wilmette there are many home owners very much under-in- sured. At the same time there are probably some carrying more insur- ance than they could collect if their property was completely destroyed by fire. So we're going to offer a few suggestions which if followed will result in our readers being properly insured as far as their fire insurance goes. Must Know Replacement Value In the first place to ascertain the correct amount of fire insurance to carry you must know the replacement value of your property to be insured. From that you will estimate the amount of depreciation that the prop- erty has suffered. The resultant figure will be the correct amount to carry provided that you expect the fire which might damage your property to ef- fect a total loss. Note, only one house out of every twelve hundred ever burns completely. If you have a fire you can readily see that the odds point to only a partial loss. Therefore it is questionable whether or not 100 per cent coverage should be carried. The writer always recommends 80 per cent of the actual value. In appraising your property for its insurance value, re- member that basements are very seldom destroyed as a result of a fire and you should therefore deduct the replacement cost of a basement from the actual value of a dwelling when ascertaining insurance values Involves Building Costs Very few home owners can give more than an approximate idea of the replacement value of their dwellings. The figure arrived at is generally in the neighborhood of what the owner paid for it plus his idea of the value of his own good judgment in buying such a bargain, and then, added to that, the owner's idea of the "increase in building costs. The increase or de- crease in building costs is of greatest importance. Through the American Appraisal company of Milwaukee we have been given access to a chart showing the movement of building costs. We will illustrate this chart here by using for example a $10,000 house built in 1913 and show the move- ment from that year. The changes in the costs of frame, brick, steel, con- Shots etc. have run practically paral- el: ; 1013 retary Taras rR 1 JOT inh vb 10200 1015 Br. rE 11,000 He... 2.28, 2% 12,500 a a be 15,000 hia ae dei Gi ELIS 17.500 19... if sei Bey 21,500 I i 28,000 121 + ond ooh Nn el, S000 21,000 Heh dtanin, dd TRL LL lg 20,000 Cn EG ARs eT 22.500 ON ee 22,000 This table refers to values in the Central Western states. It should be a very valuable guide to use in de- terming the insurance value of vour house. : Discusses Life Insurance Next week we will start a series of articles on Life Insurance. The field of Life Insurance is the most exten- sive in the insurance business. It is interesting to note that approximately 80 per cent of material property values 1s insured whereas only about 7 per cent of human values is insured. This statement probably brings to mind the question of just what is meant by hu- man values. In a broad sense and as we think of human values in Life In- surance we mean the value of a life In its capacity to earn. The commercial value of property is determined by the Income which that property brings in. So it 1s with a life in a strictly com- mercial sense. To make this a little clearer: Assume that Mr. A has an income of $3000 a year. Mr. brains and brawn make that income possible. Now when Mr. A dies that Income ceases and can only be re- placed by a sum of money which when put to work earning interest will bring A's | in" an income of $3,000 a year. Of course the commercial value of a life is modified by the expectancy of that life, a detail which we will explain in our life articles. We promise to make these articles on life insurance, inter- esting as well as helpful. EXPO FOSTERS HOME BUILDING Exhibits to Bring $5,000,000 in Construction Officials of the Chicago Real Estate board under whose auspices the fifth annual "Own Your Home" exposition closed in the Chicago Coliseum re- cently, announced that more than $5,000,000 worth of residence construc- tion will be undertaken as a direct re- sult of the holding of the exposition. Moreover, there is every assurance that these new homes will be of a higher grade than many houses built in the past says the Exposition Ad- ministration committee that is enthusi- astic over the success of the campaign to educate the public in good con- struction practices. "There is no doubt but that the Chi- cago public is aware of the danger in 'gnorance of the fundamentals of home building" said George IL. Bruckert, chairman of the "Own Your Home" division of the Real Estate board and of the Exposition Administration com- mittee. Inquiries Exhaust Attendants "The interest shown in the exhibits of the right way to build a house is far beyond our expectations. We be- lieved it would be necessary to urge people to examine these displays be- cause there is nothing particularly at- tractive in their appearance, but the inquiries of the visitors exhausted the attendants who had to be put on shifts. People stood in line waiting to in- spect these exhibits and advise with the experts in charge. "The fact that many of those who indicated interest in this educational campaign were people who had been imposed upon by unscrupulous con- tractors and manufacturers of shoddy materials made us realize more than before the great need for a dissemina- tion of the fundamentals of good con- struction practices. : "Hundreds of people who visited the exposition have invested their savings in poorly built houses on which the annual depreciation is woefully heavy, and their sad experience should be a lesson to all prospective home build- ers. "There is no doubt but that the houses to be constructed as a direct result of holding this exposition will be more efficient and satisfactory be- cause of this campaign." Safety and Service EHIND the service of Smart and Golee, Inc. are reputation, large finan- cial resources, sound busi- ness principles, and an exec- utive personnel that has earned the confidence of its customers. Bonds and mortgages sold by this firm are secured by the best Evanston apartment buildings. The return of 6 to 6% per cent is certain. Ask for Our Securities List. RT > MEE .1580 Sherman Avenue, EVANSTON University 285Rogers Park 0272 ood ole oe oo ole ode of BoB ole ode ok ok od ole ob of ode oo ood og ob ob ob ob odode ode ook ok ob ob ol ob BoB ob oR ol oo od oR oR fully insured. We do not Phone Wil. 1750 Wilmette, Illinois LL EX ELE EE TELETEXT PLACE YOUR INSURANCE WITH A LOCAL AGENCY We will give you an appraisal of your property and advise you of the correct amount of insurance that you should carry to be represent CLORE, BUDINGER & SMITH "Let us solve your insurance problems" eof oo of obo of obo of of ob oe oo of oe oe obs oe of oF obo oF ob oF ob oo of ook ood oe ode oe of oe ode oe oe oe of of oF fe of of oe of ode ooo obo reciprocal companies. 1177 Wilmette Ave. Opposite Village Hall od oe oe obo ole of obs of oe oe oe obs of of obs oo of ob ob Bo ool 100,000 at Exposition No definite figure will be announced on the attendance until later, but it is estimated that close to 100,000 people entered the Coliseum during the week. "The recommendations made by the National Conference on Home Build- ing that met in the Coliseum on Wed- nesday and Thursday at the call of the National Association of Real Estate boards will be used as a guide in stag- ing the sixth annual "Own Your Home" exposition to be held in the Coliseum, March 27 to April 3, 1926, again under the auspices of The Chi- cago Real Estate board. Linden Crest Apartments Linden Avenue and Fifth Street WILMETTE DIRECTORS TO MEET The National Association of Real Estate boards has called a meeting of its board of directors, officers, and advisory board, made up of the past presidents of the organization, to take place April 17 and 18 at the Drake Hotel, Chicago. One of the Corridors in the Linden Crest We Will Build For You! "THE HOME YOU WANT" 10% Down Enjoy Wilmette its many advantages, without the care of a home. Close to schools, Balance on monthly payments lake, harbor, golf, parks. Only in tet ; 1 t one block from transportation all Soma PT rons see and shopping center. We invite your inspection of Wilmette's Jes the hommes wo Jovy bit on first and only apartment building. the North Shore from Wilmette to Waukegan. Lake County Construction Compzny 212 Washington St. Waukegan, IIL Phone Waukegan 3031 10 N. Clark St., Chicago, Ill. Phone State 8825 For Information call R. T. Davis, owner, Main 3012 or Wilmette 589 or see Janitor at Building Linden Avenue and Fifth Street WILMETTE ts Ae --------.----_.,-S AL A ra Zar rrr 2 2 ZL Zl 2 2 LE ELE Lil. F727 777777777rrrrrrirrrrzrrzzzziizziziiiiddd 4 George H. Taylor Real Estate Mortgage Co. A State Wide Organization ZN Mortgage Loans made in Chicago and other Illinois Cities $1,000 to $1,000,000 or more--5',% to 67 Monthly Installment and Amortized Loans on Residence and Business Property Under Three Different Plans up to $100,000.00 Liberal Prepayment Privileges We also make Construction Loans 312 So. Clark Street, Chicago Telephone Wabash 1246 Ml 27772 2 a dr iziaidiiiididiiddid Real Estate Loan Correspondent THE PRUDENTIAL INSURANCE COMPANY OF AMERICA We Consider Applications Through Our Representatives for Loans on Approved Properties in 42 Illinois Cities Other Cities will be Added During 1925 If you do not want to borrow buy some of our 7% to 10% investments 777777 72772 a 2777777777 777777z77zz7zzzzz, LIZ iiiiriitiiiilidid ddd dd dd dd didi ii %. Zz Za 27777 2777 2777772 rad 77777 777 2 7777 72d 72 i addr rzizzzziriiizrrriizrzzrizzzzzzzrzazzziziziddiiaiaiiiididdddciiid -- Geneva, Illinois, lies in the beautiful Fox River Valley, 38 miles from Chicago. It is an hour's ride on the main line of the Chi- cago & Northwestern Railway, and is also served by the Aurora, Elgin & Chicago Rail- way. Cement road direct to Chicago. A great many business men commute daily from here to Chicago. This attractive red brick Early American home, with over 214 acres of grounds, is for sale. Beautiful trees, shrubs and f flowers abound. Situated in a very high-grade residence dis- trict, ten minutes' walk from station. y » A ig : H. D. HOYT, Geneva, [llinois Telephone 861 Geneva sue © Inspection by Appointment Only ER ------------ A egg, J MMA EE ee i rey TT eo