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April 7, 1928 WINNETKA TALK 63 Iz TTT TTT EE CTC EEC CCC EE TT TI 0 AHI am m------ r= LS wes Sr -- cass wees LT ER I TR BT TT A Profitable Investment EDGEMONT APARTMENTS $90,000 Fit Yorum Rest Baie 0/7 In denominations of $100 - $500 - $1000 SECURITY: This First Mortgage is secured by land 50x176 and the improvements--a 16 apartment build- ing with private garages for tenants in connection, there- with, located at South West Corner of Washington St. and Elmwood Ave., Evanston. LOCATION: The property is conveniently located in a very, fine residential section. The Main St. "L", Northwestern steam road, as well as the Bus and Surface lines are all within five minutes walk. The Main St. shopping section, schools, and churches are all close at hand. This building is being erected amid beautiful houses and apartment homes. TITLE: A Chicago Title and Trust Company Mort- gage Guarantee Policy has been obtained, insuring this loan to be a direct first lien against the property and improvements described. MATURITIES: The bonds are dated February 1, 1928, and the final maturities are in seven years. Semi- annual pre-payments after the first year reduce the total indebtedness at final maturity, and provide excellent shorter term investments. As follows: $3,000 February 1, 1930 $3,000 February '1, 1931 $4,000 February 1, 1932 $4,000 February 1, 1933 $4,000 February 1, 1934 $72,000 February 1, 1935 VALUATION: Edward H. Payne, real estate appraiser located at 1569 Sherman Avenue, Evanston, values the land at $25,000. Stanley Peterson, construction ap- praiser located at 616 Church St., Evanston, estimates the value of the completed structure at $120,315.13. This makes a total of $145,315.13--a wide margin of security for the loan. THE BORROWERS: The bonds are signed by Ernst Knodel and Anna Knodel, his wife, the owners of the property. Mr. Knodel is well established in this community. He has been responsible for the successful development of two other corners at this same inter- section; the North West and South East corners. INCOME: Conservatively estimated, the annual income from this property will exceed $21,500--nearly four times the highest annual interest charges. This provides unusual security. MANAGEMENT: The property will be managed by John F. Hahn, Incorporated, at whose office all in- terest and principal payments will be made as due on the first day of February and August throughout the life of the loan. INSURANCE: Full fire insurance, as well as tornado insurance is carried, payable to the Trustee. THE PURPOSE OF THIS LOAN: is to provide funds for the erection of the building. The proceeds will be disbursed by John F. Hahn, Inc., who guarantee the completion of the building free and clear of all prior liens, and in this guarantee reserve the right to re- purchase the bonds, at the original price plus accrued interest, should the building not be completed in full accordance with plans and specifications, This Investment Is Highly Recommended By Us. JOHN F. HAHN INCORPORATED Established 1899 1617 Sherman Avenue Greenleaf 2700 EVANSTON, ILLINOIS Rogers Park 5115 LE EEE EET ST TTS rs cm Se---- LE TT TCC TCT EEE EE EEE LL FLERE LEELA GALE ERE LEE EO REE EEO REAR TO ELLER RELATIVE EOE EORTC EOL EEL EEL ELLER RE EEE EEE EEE DEE nnn