, 1872-12-15
REAL ESTATE,

Lake View.
Building Notes-.-Transfers for the
Week.
The volume Of transactions in real estatt
seems to be dwindling down, as is usual ut this
season Of the year. This, however, has little or
no Significance in connection with the feeling Of
confidence about future values. The dispositions
to invest money in realty in growing city like
Chicago is not subjected to re7u1sions or re-
actions like the tendency to put money in any
other kind Of investment. Dishonest manage
ment may bankrupt railroad companies and
depreciate the value Of their stocks and bonds
Banks may meet With losses and their stocks
depreciate in consequence. Partisan legislation.
in State Legislatures, or in Congress-, may depre-
ciate the value Of State, National, and town
bonds, and, al things considered, there Isl
nothing in which money can be invested
where it is so safe from loss as in city real
estate. Nothing abort Of great interneclne'
Wat like that Of the Rebellion, or some great
commercial panic like that Of 1857, materially
affects the value OF city real estate unfavorably-
/ ~
these city real estate more certainly recovera
than any other security. Real estate is the,
sAEEsT SAVINGS BANK
in the world, and it is in this view Of the casa
that every man Of influence, every employer,
ahou1d advise laboring men and mechanics to-
put their savingsinto house and lot, rather than
in any savings bank, no matter how good its
reputation. Mechanics and laborers should be-
encouraged to buy lots for homes, but cautloneti
not to buy any piece Of ground without gong to
of one OF more Wel-moWn citizens that that la
the identical ground they are proposing to buy.
Landowners also should meet the case Of thosa
who wish to buy By building cottages and aei=
will meet the ability Of those who would other.
wise have to put their savings into bank before
they got enough to make the first Of the ordinary
payments On purchases Of ground
REaIDENoE PROPERTY
is in better demand now than business property;
owing to the prospect OF high rents Tor dwellings,
next summer. Even suburban land fire or slzt
miles from the Court House, in almost.
any direction, sells more readily than business
property. month ago. the horse-disease was,
| the means Of imparting check to transactions
in outside lands, but there is still more dispoai-
| ton to buy than to sell An instance Of the-
! frmness With which this class Of property is
| of $700 per acre for liz acres in the 8. ". 4 Of
Sec. 5, Town 81, Range a east, being mile
| north Of Washington Heights Station Ihe.
s.me 1and was bought three and half years
There is also good demand for nearer resi-
dence property that Is within the limits OF sucH
city con7eniences "a gas, water, sidewalks, sew
err, ETC., etc. at prices a ranging from $3o9 f9
| be required for actual occupatisn next summer
The sale Of block Of ten brick residences
each two-story and basement, and containing ten
small rooms, with bathroom, etc.; located o4
avenues) NORTH Of Thirty eighth street, vas ef@
fected this week by Messrs. j. G. McCord 4 Co.,
for $40 600, being 81, 900 tor each house and d1ot-
! The lots are 20 feet front by so feet deep.
| We have from Colonel 4. jacobson the state-
ment that the 965, 600 Of notesmade BY A. jacobs:
son and Thomas ?: Ta1lmsn, running five, six
Of the Hcandinavian National Bank, were given by
them to buy out WinsloW'B interest in the So
acres OF land on North avenue, Western
avenue, Division street. and nd .:13 :Deerpath n At
$50 lots that have been sold and partially paid
for in that addition and also to place the title Of
the unso1d part in Jacobson and Tallman-
Winslow paid $40, 500 OF the purchase money o4
ton with jacobson and Tallman to purchase hiz
interest for 1000, which they did when they
| became satisfied he was not coming back, and
would become bankrupt. This, it is claimed
gave Winslo"'s account Proht OF 50, ,5c0 CT
never discounted by the Scandinavian National
Bank, but they we're voluntarily placed IN th9
| bank by Jacobson and Tal1man as additional
security for Winslow's creditors.
| TIE ASSESSMENT IN NORTH CHICAGO AND 1Aka
The assessment rolls for the completion of
the Lincoln Park purchases are ct last ready,
and the land yet to be acquired will be at onc9
| taken and the Park be finished and beautifed
/ 41nnr itR entfra grand lake frOptap8.
| The getting up Of such assessment IS thia
is work requiring much time, labor, and skil19
and it is only due to the Assessors and Super
| visorB Of the two towns interested to say tha4
| the general opinion Of those interested pro-
| nouncea the aasessmenta fair and equitable one.
The Assessor in such cases has, Of course, "a
consider the benefits accruing to the property
| from the proposed improvements, and, in doi7a
| this. must take into account the value Of each
| piece ct property and also it's proximity to thu
Park, or to the particular land to be purchased
and weigh them fairly in coming to 3 conclusion
It is tact admitting Of no argument thaf the,
much more in proportion to it's value than the
lands that lay between it and the centre Of popu-
| Iation, and thus, Lake View, in the present in-
stance has to bsar 1ger snare 4hon q ne az s3-
cago Thus, while the assessment for general
| tax purposes for 1871 is nearly ei1 times az
| great for North Chicago as for Lake View, th4
territory Of the latter is assessed nearly half Of
| the cost Of these purchases. It's valuation has.
! however, always been small in comparison WITH
its selling ya1ues 1ts total valuation for 1871 be<
| ing On tie ta1-dup1icate less than one million,
| while its real value is probably about fft}
millions, or, say, half the real value OF North
| Chicago.
The Assessors seem, however, tohave ignored
town lines and laid the expense simply in pro-
portion to expected benefits.
| The entire amount OF the assessment covering
| all purchases Of land, made or to be made. ie
$1,000, ,000; $3.50, GOO Of this comes in the town
OF North Chicago, and $3.50 900 in Lake View
Bonds for only third of this amount, OF, say.
s397 600, a5e to be issued 4 now the Iemalndsf
| but, it not, will be paid in bonds, payable iH
twenty annual instalments, or, say, $4,000 pei
ennum, a sum not very heavy, even On the pres-
| ent real value Of the two towns.
| GENERAL BUILDING NOTES.
! rTh-nrryhouf I'm nifder NeAther la4