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DU4 Greml fAve-, WiI.mtte Phome 221 Wil..tte 8.Masng the MNt Shore for 25 TrcÀ FIRST MORTGAGI LOAN S NO COMMISSION 41/2%o INTEREST R.skl.mtW lproper ties. r.stricted BI0B8. Evauston and North Shor.. 5 to 10 year termi S.mi-mali nterest paymnts. INC. 1 N. La Salle St, Chicago Central 0227 1571 Shcrman Ave,_Evwnston The consideration was -not disclosed but prop erty in that section is being held -at $1.000 *pér acre and, up. This prôpertyý was formnerly owned by the Insull interests wvho planned to sùbdivide it into small lots as an 'extension of their Home Addition Subdivision. Present owners have no immediate plans but may later divide the- propert-y into tracts of an acre or more and develop the tract like. similar properties in the' Sunset Ridge section. The prornerty has the advantage of accessibility to city, ivater and .is" one of the few tracts fronting on the north branch of the Chicago river which is not controlled by the Forest Preserve. It a-joins the '25-acre Plamondon subdivision where 'Mr. Vilas is constructing a sectionW which is rapidly taking form a s a community of high grade houses. Prices in this desirable residential neighborhood have advanced steadily f rorn -a low of abouùt $450 per acre to present selling prices which range frotn $2,00 to $3,500 with only a, liniited number of ýdesirable homne- sites stili available. About forty new résidences have been completed,>dur- irig the last two years, each occupying one acre or more of land. As a re- suIt. of this growth in population, the local ýschool bas been enlarged, ,a new village hall for Northfield has- been, built -and a zoning commission -or-' ganized. Neil Williams acted as attorney, for. the buying syndicate and Harry Sampsnn represented the Beuter temodeling Work Heads Glencoe Permit Record The two building permits issued iGlencoe during the past week rere for remodeling work, the total stirnated cost of which is $8,000. A resolution am ending the National. Housing Act to. provide for ex- tension of Governmeflt guarantee on debentures to July 1,i 1939, and passed by Congress was signed by President Roosevelt on February 1l9.. ýThe effect of this amendment is Io extenld the Iguararitee l)y the 1v;iitcd States of t'he principal end intereat of debentures issued by the Federal, Housing Administration. in exehiange for any -propertY on which a loan is insured prior to July 1, 1939. Commienting 'upon theReouon Federal Housing Adrninistrator Stew- a rt 'McDonald made> the follôwin statemeflh "Green Lig-ht" For B«Uilig "The signing of this amnendment to the National Housing Act by the president is, in effect, "the green light0 for the htibwe construction in- dustry throughout the country. "It means the contianted free flow :of mortgage money nccessary to, avert an acute housing, shortage. "Without this extension of the guarantee, construction of homes in this country would have heen seri- ously retarted, perhaps for years. "With. the extension of the guaran- tee private capital will be encouraged The other permit waý issued to rtecns al Gibbon, 1239 Scott avenue, wvho under the Hc building a frame and stucco addi- due to their :) to bis residence. The cost of actuarial point is improvement is $3,000. fund of appr< not a suffiici /ilmette Permits Total $6l00,00O0o the mortgages 122,000 During February to a ce Building Comnmissioner William A. Fuud ýon of new hom~es tg Act. This was ing that fromt an view our insuraflce ately . $16,000,000 is 'eserve bebind the :ion represented by ých the Administra- I