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WINNETKA TALK February 4, 1928 Indian Hill Club Neighborhood 9D \ \) | | A) RR GUNSLET KORL GunTRY Day & 0 i 0 3 | tron --= = DT RYes 3 0 wis a : 5 x BE) Tn N RAL OR 4 s 1227) ps URLS Aop iO <i = ols 3 | NEE oO Ei | = WwW Zz DR 3 8 « [ON SR IEE On h rf Hk RY obU8 | Ho \ lite Joi The two home sites shown above are the only ones available in this choicest of neighborhoods. We have a number of acre tracts further away from the stations and schools--But if you wish the conveniences offered here, your choice is only between the two sites shown above. The Birch Street site (105x187 feet) is beautifully wooded and is opposite one of the finest homes in the neighborhood. Mr. D. M. Rugg of Winnetka is building immediately North of this site. The seclusion and rural aspect make it unique. The Chestnut Street site at Hill Road is larger. The surroundings are unusually good, and it is offered far below the prices recently obtained in this section. We can offer two modern homes in this neighborhood. Each has 10 rooms and 4 baths. One is $52,000.00 and the other $55,000.00. Both are worth the price. Real Estate Sales in 1927 from our Winnetka office only OVER ONE MILLION DOLLARS List Your Property With Us! McGuire & Orr 541 Lincoln Avenue Branch Office Main Office--Chicago Winn. 672 6 Branch Offices New Appraisal Rules Six important recommendations governing the making of appraisals and the conduct of appraisers were unanimously adopted by the new Appraisal Division at the meeting of the National Association of Real Estate boards. The recommendations are designed to eliminate misleading appraisal practice especially in connec- tion with real estate bond issues. They are as follows: 1. No appraiser should accept an order for a valuation for which his employment is contengent upon his appraisal. 2. The practice of having one ap- praiser make the valuation of land and another of the building and using the total of the two as the true value is unsound, and is condemned, as is also the practice of basing the appraisal entirely on the capitalized value of the net income. In appraisals for bond issues where more than one appraiser participates, all of the appraisers esti- mating the separate units of value, in- cluding income, should reconcile their respective appraisals and sign a joint report. 3. An appraisal report should state the conditions under which the valu- ation obtains, and when feasible, should be in detail. upon a standard form furnished by the National Asso- ciation. 4. An appraiser should have no in- terest in the property which is being appraised unless his interest is spe- ifically disclosed in the appraisal re- port. 5. An appraisal for a bond issue should, in addition to showing the fair cash market value of the property, also show the appraiser's estimate of gross earnings, operating expenses and re- sulting net income. In case the capi- talization of the net income and the valuation are not reconciled, the rea- sons for the difference should be ex- plained. 6. All advertisements of bond issues should give the name or names and addresses of the appraisers, and should auote sufficiently from the appraisal report, both as to physical value and income, as to reflect correctly the opinions and judgment of the apprais- er, and certified copies of the full appraisal report should be available to the public at all times. The division further recommended that all local board members of the National Association investigate all complaints that come to them with respect to any appraisal for a bond issue, and that if necessary they hold a hearing and file the proceedings with the National association. Vitrified salt-glazed clay wall coping will enduringly protect any type of masonry or concrete wall from the ef- fects of erosion at the top. It is in- expensive and easily available in va- rious widths. VISION OF WINNETKA WHEN ALL BUILT UP Statistical Report Says 3426 Would Be in Apartments; 42,430 in Residences Included in the varied and somewhat voluminous reports from various sources on which the Winnetka Zoning commission and Village council have been studying the perplexing question which has arisen relative to the pro- posed drastic amendment to the zon- ing ordinance, the following data will prove of interest to all Winnetka res- idents, regardless of their view on the issue involved. Many of the proponents have, at public hearings, voiced approval of the amendment, on the sole grounds that they are opposed to any apartments, whatever. Others favor restrictions which would practically eliminate apartments, for the reason that such provisions as they sanction 'would ren- der the {further development of "C" commercial area property unprofitable, it is claimed. H. H. Brown Cites Figures Some requested further information as to the extent of the "C" commer- cial area, and, at the request of a member of the Winnetka Zoning com- mission, the following information was compiled by H. H. Brown, of the firm of Murray & Terry, and submitted to the officials of the village bodies for their consideration. Mr. Brown in his report says: "I have computed the area lying within the various districts, elimina- ting all of the land owned by the Park board, the Village board and Forest Preserve district, also all of the pub- lic school sites and the church proper- ties where it is permanently improved. "I find there are zoned for class "A" residence, east of the Northwest- ern railroad, as near as I can figure it, 496 1-7 acres of land which, under the zoning ordinance, could possibly be improved (allowing 6 families to the acre) to accomodate 2977 families. "West of the railroad, "A" residen- tial, I find that there are 911 1-2 acres of land which could be improved to accommodate 5,466 families, and in the "B" residential district, about 3.6 ac- res, which at the rate of 12 to the acre, would accommodate 43 families. Mak- ing a total of 8486 families, which could possibly be accommodated under the zoning ordinance, in the entire class "A" and "B" residential districts. "I have also computed the area of all the land now zoned "C" commer- cial and also "D" industrial, and give the following figures pertaining to "C" commercial: "Hubbard Woods--346,925 square feet, being almost exactly eight acres, which, under the ruling of 72 families to the acre, would accommodate 576 families. "Indian Hill--281,630 square (Continued on page 54) feet, KUHNS, DITTUS & KUHNS Safeguarded Investments 11 South La Salle Street, Chicago--Central 2990 AMPLE FUNDS TO LOAN 55% --6% LOWEST RATES OF COMMISSION CONSTRUCTION -- REFINANCING RESIDENCES, STORES, APARTMENTS SAFEGUARDED INVESTMENTS Ane ---- HUHNS DITTUS & HUHNS AA A Highland Park Address R. F. Kuhns, 827 Lincoln Ave., H. P. 1860