Indianapolis Times, Indianapolis, Marion County, 8 June 1952 — Page 41
E 8, 1952
‘Key Word “Relax”
Sectional and Lounge Chairs,
Enjoy The ease which is custom made in Custom Built Furniture,
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struction industry. all city utilities and sewerage. ay It's made the building business this nation’s largest Walk-in Closets ; IN industry with a tremendous neon-'—— - - {| The two bedroom home offers pright future, $100 million worth of construction 768 square feet under roof. -The *! But it’s the babies that put in in Marion County. master bedroom is 13 by 10 feet - the bounce. And only a few weeks ago labor and the second is 11 by nine feet. A"
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Real Estate
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HAWTHORN MANOR—The price tag reads $9841 for this two-bedroom 768 square foot home.
Forty new 2 and 3-bedroom homes will be built by the |ABC Construction Co. to com-
. . plete their Hawthorn Manor KB bh B Led Addition, president John Bauer qa ies Ul announced this week.
Real Estate—
: ® field, the Hawthorn Manor two A Big Mar et bedroom homes sell for $9841 and the three bedroom models are priced at $17,500. Bounded by 16th St. Ritter By DON TEVERBAUGH Ave., Hawthorn Lane and 19th " Times Real Estate Editor St., the addition now houses 225 CHAIN REACTION, a pretty important phrase families. It was started in the
. : spring of 1950 and includes paved = these days of the Atomic Age, has taken effect in the con- streets and sidewalks, as well as ¢
They produced, first? a giant officials in the construction trades/Both feature large sliding door ®™ hunger for newer, bigger homes. were worried about getting walk-in closets. . Families outgrew their living enough work for their members., The kitchens feature 11 run‘quarters. And the greatest home Things change, fast nowadays, ning “feet of Youngstown .cabibuilding years in history (1950- ? nets, a disposal unit, a built-in; + 51) haven't appeased this appe- Costs Are Up : Beliie washer and inlaid’ lino-, y yet: : in Sg ; fleum floors. , All other floors are - ow it’s schools. : Elementary. h YOU "CAN ‘expect that NEW of hardwood. : In a few years it will be high Douse to cost. you more money ofr the kitchen is the utility 2ehools. Then colleges. We because production expenses are room, which most customers are won't be able to build 'em fast higher. That's the word from using as a dining room (the ofl
enough. Joe Lund, president of the Na- heating plant is located in the And then it will be houses tional Association of Real Estate center core of the house). agiin as these habies start a new Boards. The 18x1113-foot living room
generation. It's a complete circle] Prices 4 existing housesifeatures a floor to ceiling eight—a big one that takes a full should remain about the same in foot Theromopane picture wingeneration to revolve: - ‘the coming months, he says. (dow and a 6-foot walk-in closet. 4 = 5 His predictions are based on Construction of the home is of 100 ACK 20 YEARS oa the 53d annual survey made by sonventionsl riding. Sone or 30- ec 00 BEIT 4S WOT TEW persons 55-the NAREB of real estate conditions plyw siding. The
; smaller homes are built on con-! | Poeviogt 19 years, And Tomel® 251 U. 5. communities, |crete slabs, but the three-bed-! building faded 58 per cent. Total| And here's something surpris: room models have a full base-!
construction volume dribbled off ing. The survey indicates real- ment. All are landscaped and| 38 per cent. tors look for building volume tolhave a side drive. Aluminum But 10 years between the 40's decline in the coming months. [storm windows and wooden storm |
and 50's added a 116 per cent| what's what 46 per cent of the doors come with the home, boost to the depression era popu- communities reported. But’ 27) — - lation growth and home build- gajg the pace should increase. | . ' ing shot up 115 per cent, bring-| And 26 looked for little crane: NOI Side ing along a 33 per cent lift for, Know what the report said I S all type construction. {about Indianapolis? The demand for elementary ‘Buyers are more choosey and S = schools will probably carry us/critical.” ales Continue over fhe rough years ahead. It| And that’s on the button. " should last through 1958, the ex-! pers ; perts say. Biggest Landowner | . : | EE The high school boom will come| .p,pgq wHG owns ‘most of] t [1S Rate next and carry through. 1960. th -) ) e real estate in the nation? Then comes demand for more col- Right. Uncle Sam | leges and houses. 2) n'dh irioE it in 1 For the seventh consecutive About 1965 we'll hit the high-| e's been acquiring In large week the sales report of the Asest era of prosperity this nation has ever known. "That's the promise of the econ-
owns almost 460 million acres.
taled more than a half That's, roughly 25 per cent of million
dollars, Chairman Guy F, Boyd
tinental United States. omists. It is a nice future. A |CORUI : |announced. M soothing balm for these anxious We aT hel Forty-one properties worth ayor Clark 4 s s. J. 8. § [total of -$525,900 sold, Sec- i days. 87 per cent of Nevada, 73 per retary Wavne Whiffing sisi i Talks to Builders More Gl Benefits cent of Arizona, 72 per cent of The sales: kiss
Utah, 64 per eent of Idaho, 53) Norman I. Hammer — 1521
CONGRESS this week gave the arm. The Korean GI Bill now before the lawmakers is aimed to Sor 2 pep Sent a ora any) 118 W. 36th St. give the millions of vets called Montana p Walt Veon Co.—2401 E. Northback into service a second homé& : Pare St rooperating broker F. loan benefit. ’ - Tucker Co.; 7924 Barlum Dr., That's because many of them The Law $ Delay 724 S. Worth Ave. 1015 E. 60th| were forced to sell homes they It took a court order to stop!St. | had purchased on the original house shoppers from inspecting a| The Spann Co., Ine. — 219-21] GI financing as they were called model home built for display at McLean Pl, 2139 Boulevard PL! back to service. Rochester, N.Y, this spring. [550-52 Bell St. The ‘second chance” will be! More than 5000 home buyers| Bruce Savage Co.—4915 Broadavailable to only those vets in crowded into the narrow, one-way| Way, 5333 N. Capitol Ave, 5430 this situation. Those who yet own (street on which the home was| Washington Blvd. 5408 N. Capi-
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their home are to be exempt. |built. The crowd jammed traffic:| to! Ave, 8201 N. Park Ave. co- hovaiug. rl residents in the neighborhood OPerating broker Robert Walker;| Mr. Clark embers Bl Houses Mushroom couldn't find parking space for 3737 E. 65th St. 2 the Oy Coe HOUSING starts this past week their cars, F. C. Tucker Co.—5716 Critten- cil and City Planning Commishad a volume of $61.8 million— One resident finally obtained 4 Sen Ave. 3709 N. Emerson Ave., sion have been invited, Mr. Mol-
that's about 8 per cent above the restraining: order hom. a local 016 W. 16th St., lot 36, Sherwood ler said.
average week this year and a justice and the builder was forced! LL 2EE:
whopping 40 per cent above the to set up his diplays in a hotel Ve Kmght Realy. Co--1430 volume to date for a year ago. lobby. Hu ” Te . & " td lie ar S For the 23 weeks of '52 we have, What was so attractive about 12 z sete. Co6213 Odk-
J d Ave. a national home building volume the house? an 2 of $1.31 billion. Well. it had Butterworth & Co.—3423 Salem
. ; : three bedrooms, g¢ Anniversar End of Strike? L automatic heat, full basement, 2 Driscoll Realty Co.—-652 E, 48th ‘
» Youngstown kitchen, a recreation | gy HERE'S HOPE in the air this room, tile bath,’and you could buy| ; week end the month-long team- it for $10,700—only $1100 down grr io" ot at Illinois and or" 1naiana will mark its 60th sters strike will end within a few and $68.75 per month. i) {anniversary at a -convention in
days. That would attract crowds any-| Ford Waod 160 Indianola gr,e) Lincoln tomorrow through
The strike has halted about where, I guess. Aven €0-operating broker, John wednesday. General theme is . . ” |“Merchandising.” : A. H. M. Graves, Inc.—3650! A bus tour of Indianapolis |Fall Creek Blvd. home-building projects and a Jack C. Carr, Inc.—60 N. Bol- dance are set for tomorrow. {ton Ave, 2026 Rembrandt St. Among speakers will be Dr. 2130 E, 13th St. 1446 N. Alabama Melchoir Palyi, former. financial “RST Tot wt-6100- Sexton” Ave., 1110- advisor ~ to ~ Adolph ~ HitleF, DF, 14 N. Colorado St. 3015 N. Lay- Palyi is now a consulting econmarr IRI3erS Ny Hamilton omise fa Chicago: HIRES zpeak Ave., 301 E, 25th St. 5702 Crit- Wednesday on “Prospects of the tenden Ave, 150-52 E. 24th St, Capital Market and Interest (two lots at 2317-19 E. 34th St, Rates.” He has been a U. 8. citi{5623 Guilford Ave. {zen since 1933,
- | Other main speakers will be
Fe N . {Fred T, Greene, president, Fed‘rewer New Cars “eral Home Loan Bank here; Rob- . ~lert P. Perrin, Chicago, representAre Being Made ling the U., 8. Savings and Loan
| Current passenger .car and League; Kenneth Heisler, Wash-
truck production figures show ington, D. C., Federal Home I.oan '|SHight decreases from last year, Bank ‘hoard member, and J. ‘according to Chrysler Corp. and!Archer Kiss, Chicago, sales-man- , General Motors Corp. figures. agement consultant, A rundown from Chrysler Corp. Lester K. Bing, Anderson. i= {showed production was off the President and Lisle W, Tinsman, E | first five months of this year, and (Indianapolis, is executive vice {less last month than in May a President. year ago. ans: em es Total production for May, 1952 Miami Beach in '52 | was 11,734, compared to 19,014 8 The 45th annual convention of 'year ago. The 5-month period the National Association of. Real
i — Tis : ’ - .| showed 55,342 this year and 76,- Estate Boards will be held at ti Ww. ia . DRUGGIST'S HOME—Albert Groh is the new ‘owner of this 18 last year “ Miami Beach, Fla. Nov. 914, at 0. DH Pre : 5 : three-bedroom home at 3650 Fall Creek Blvd. It was sold rec ently General Motors figures for the Last year's convention In Cin- dent and I. W, Bosworth, secre- SPEEDWAY CITY—This five-room frame built at for owner Fathaver. by Maybelle Green of the A. HM a a a hiad. 2.102 nat} drew more than 3000 tary-treasurer. Anton. ‘Vonnegut 1859 Chivtophes Live was wi Moti By Miss : Hendrix raves C : Ty : 1 Rates representing about (8. will continue as member of the! r by + cl A nan Ged - Graves Co, The ny includes » by 8 TOOm. ~~. [Year ABE 207.008 Jags Year. - 0D members. - . hoArd of Girectors. ©, Mueller handled roe Joh So yilstnan George. 2 on § oa eo, wad ’ * eat 3 - Ta ® oil . ugh ? ; . oe
SUNDAY, JUNE 8, 1952
Mayor Clark will speak at this . p of the arion GI Bill of Rights a shot in the ail ny 31 per Co Herschel] Sn 5s [nt Heeling of Se nt fornia, 44 per cent of New Mexi- | noig St. 1438-40 Ye Ls St the Athenaeum June 17, Propram : Moller announced today, | “Your Indian-| apolis Govern-! ment” will be} the Mayor's top-| je. It will in-| clude such vital] © subjects as tax-| ow ation, dedevelop-| ment and public |
saints | The Indianapolis Times een A
Small Home Plan ...........42
40 Homes Planned For Hawthorn Manor Rent Control's Effect
Outstanding in the low priced; AERIAL VIEW—Two hundred and twenty-five families under roof and another 40 coming up. management of residential units
LT | d f real EVERYTHING STOPPED—Just about all completion work had been halted at the I4-story, 390. | And, in a free market, there And users of real estate falls to apartment Essex House, Pennsylvania and Vermont Sts. by the month-old teamsters strike, which {gobs ever since 1937. Today he sociated North Side Realtors A! Se dy Te Simmans Hi Sulaurs had hoped for completion by midnluly,
Employees
“their move to the | million, 120,000 squ “| building. ; The recently co {building is part of t
|
{that has increased | |square feet—more the space in 1941,
The construction
Mr. Downey
is constructed of
masonry and steel, is non-inflam-
owne Chosen mable and is protected by a pre- Rental Demand Under $35 | cast concrete slab roof. Despite volumes of high-Non-glare windows were in- falutin’ statistics the great mass stalled on sides most often ex- demand in a comm
To Head A Bic | |posed to the sun, T | {100,000 square feet,
{manufacturing. A | Grattan H. Downey this week |foot second story
was named manager of the Fieber/and engineering facilities. ConThe Savings and Loan League & Reilly Insurance Agency, How-| struction was started in 1951.
arg Fisher announced. oars. op rr ar—_,,_,_,—_, |ally missed the target about as This means, the company said, | ity me Ha A ee business Real Estate Board [far as it can be missed. from 20 to 30 per cent of your ie Bis DAKE OLR Downey] d d { Managers continually hear the|gross income will go into the DE Rage ro charge bf neYIA s 6 Members (earnest protestations of thousands | house at lower earning levels and Gt eter aE Six new active members were Who Would like to buy and won-{from 11 to 12 per cent if you are
In 1947 he was awarded the admitted this week to the Indian- df Who is kidding them when| in the $20,000 brackets.
designation of Chartered Property 2polis Real Estate {Casualty Underwriter and is a NeW Realtors are:
eharter.. member ot she local oW- linton. Atkinson. Atkinson Management offices comelinsurance and property. maintes hed Ee a ERE ee Se SR SR fr “tnchuded 10 the figs of the Indiana State Fire. Pre- Kuhn; Mary Merrick; Ershal their silent, unhearalded way by|ures. Electricity and gas for 5 ’ TEE AT ass sms arta d EY 1 Frank ‘Connell, taking the older house, cleaning! lighting an ooking are not ine rg venti. rade one ry oh Haberapnet. SE Lagidsr. t 8€, cleaning wy :
Mr, Downey frequently lectures & Kuhn, and at, Indiana University Extension erine Coulter. on the subject of insurance. He is a past exalted ruler of Lodge #“ ai 13, BPO Elks. Rie
Old Concern Changes Name
The Vonnegut Moulder Corp, 1815 Madison Ave. has changed its name with retirement of Anton Vonnegut. . The business of the company has been taken over by its present personnel and will be known as the Grinding and Polishing {Machinery Corp. Products and ‘their distribution will be unchanged. ) Heading the newly formed cor-|
ony | |P. R. Mallory "| A manager could be proud of thing off, and continue to serve
To New Building [rent from them. Now that is alll We were about to adopt a nae
| Nearly 500 employees gf the Today competition is gone. propriately, be “this to will pass,” | contact division of P. R. Mal-| No manager can be much of We hope se.
lory & Co., Inc., have completed | ¢
| program of continued expansion Our experience in dealing with By United Press
|turing space owned to 963,800 the years is they are almost|decide to buy that dream house,
long by 140 feet wide and houses stricted income has made this|CO. can't tell you how much yon 3 |complete operations of the con-| exceedingly difficult which, in|Should pay, but its real estate 5
tact division, plus the company’s turn, gives rise to a greater need |eXperts figured out a table show shipping and receiv .
PAGE 41 | Classified .............. 4459 |
ml On Rental Housing ;
| By ¥ARL B. TECEMEYER i Secretary-Treasurer, Schmid & Smith Housing is as much a public utility as anything else. ‘Yet, unlike other utilities, owners and managers of rental \properties have no one to turn to for help. :
| * "The telephone company, the bus company, the gas, {water and electrical utilities all:- rar eine go to the Public Service Commis _ NOTE: This is the fourth of
. A series by “The Men Who sion and get increases based on Know” real estate to keep rising costs and
Times readers alert to changing in proportion tof trends. With ‘the co-operation their needs, of the Real Estate Board, these But property reports will appear exclusively owners have no in The Sunday Times. help in sight and
iyou can see the effect it has had. We are generally ashamed of the appearance
| & minimum of ‘about $750.00 down and payments as low as 4 | $40.00 per month. This .really i meets the need. i No publicity attends this sort of most of our | of operation because no advers property. tising or hullabloo is needed. The { The owners mr. Teckmeyer G¢mand is intense. 1 are ashamed. but : All tenants are prospective lack of adequate return on the buyers, the manager can, in this 1 property prevents their supplying Way, convert part of his skill in H nything “other than the barest the housing field to solving a se- i an; : vere prdéblem though, in the end, 3 he will be selling himself out of 3 ‘Anything From Anyone business. A A tenant today will rent any- Fewer Rental Units 4 y from anyone. DR ny engage in the And that is one real reason | why the number of rental units are actually the unheard of, un-| iS constantly diminishing. Ten- E sung heroes of the real estate ants are occupying rental space 3 business. at about 60 cents on the dollar, Hero probably is not the proper And, unless forced to do so, ale word because there isn't anything most never voluntarily vacate. particularly heroic ahout a. per- Nothing is cheaper for the son who choose to get himself householder today than the caught in the crunching vise of rental space he occupies. rising costs, soaring taxes, and When the tenant does vacate, ever mounting expense budgets the owners and managers get lon one hand, and frozen rents on their heads together and figure the other. One can always get! Out what to do. Their rent is : {out of such a business if one frozen and yet they don't want chooses, but who would then continually to reduce their holds maintain and service and care Ings by selling out. But they are - for the 90,000 rental units in| being “sold out” by remote conIndianapolis. trol because of ‘conditions under Many owners are non-resident; which they are forced to operate. many are of the institutional! = The owner and manager have type; many are physically in-|10st complete control over pos. ‘capable of managing their own Session of property. .the amou-fy © |property and above. all, almost Of rent charged “400 cheb of eX~ all owners realize property man-|Penses. There is no agency to agement is a feature of realtors|turn to except one whose sole pur- * |work which requires skill, pa-/Pose-is to maintain the status tience, and training. So, someone quo. The Rent Office has no real ke has to do it, ’ : {power to equalize rents in line : . | Managers or management of-/with increased taxes and ex ifices do not rate glowing head-|penses. lines which, flow to those who! Traditionally, the manager's 5 {proudly ‘boast of huge sales vol-/way to be of assistance could be umes. Managers cannot possibly defined very simply—keeping incompete for public esteem withicome up and expenses down. the builder who creates those Good management could do that: {little ranch type gems in suburban can still do it, but to a much |areas where thousands flock of lesser degree than ever before. a Sunday to gape, wonder, praise - All expenses have increased and, above -all, hope. from 50 to 200 per cent. Rents Nor, can the manager of res- have by no means kept pace. idential units publicize his skill Here for Long Time iin negotiating deals, at fancy in-| Rent control is apparently like |vestment rates, for owners of the “Man Who Came to Dinner.” commercial properties, office! t is here for a long time. buildings, and the like, We are trying to learn to jive All the residential manager| with it but that requires the pacan do is manage his little port-| tience of Job and few managers [folio of homes and aparunents.) re invested with such qualities, 3 occupied by people wae oer) Some kind of reasonable conse x FO “It tops " pleasant, TOs on upkeep items coal, ofl, [fruitful work; not high paying| ag. gin rn |but spiritually satisfying because] g. P nd would lit dealt with people and their] /homes. f
essentials
Ro
Workers can vote—houses can’t, Yet the opportunity to be of Competition Set the Pace | greater service to more owners
, . » help- the skillful manager who, despite [Was 3 Chalice really to be hell resent difficulties. Jones fon pes but the strike [Competition obliged owners to/t0 a brighter day, listens to the {meet competitors by keeping their| tribulations of his owners, the - ~ properties in good, rentable con-{¢omplaints and demands of his % [dition. tenants, tries to level the whole
the appearance of the units he the great masses who need or Move managed. Tenants sought out the Want rental housing. good managers and wanted tol Like the immortal Lincoln, if
lchanged. tional slogan it could, very ape
a “standout” under such condi-| i nles lely through division's $1 | ons unless it be solely throug
: | personality and his attempt to Wh } Y are foot new mitigate present conditions and , a S our
make the business of renting as
mpleted new |pleasant as possible despite the 8 ( , $2 he company’s |pitfalls. ome oS -
ale Si
its manufac- a multitude of owners through] NEW YORK, June 3—If you
than double unanimously interested in pre-{ how much do you expect to spend 4 serving their investment and|on it each year? 4 is 700 feet maintaining their properties. Re-| The New York Life Insurance k
ing docks. Itifor the manager's special skill|INg about what your neighbors monitor type| than ever before. with the same income are | spending. If your overall annual income is $3000, you will spend about $900 of it on the house, according
ema ty this|to the table. If you make $ 5 he first story, size is for units in the monthly | you will spend around $1200. ¥
5 devoted to rental range trom $25.00 to $35.00. Higher on the income scale, 20,000 square This will probably violently | New York Life reported if you houses office | disputed but can be easy proven. make from $20,000 to $25,000 a Hence all the building for the year, your outlay for housing will [so-called mass market has actu-|range from $2200 to $3100.
Board. The they are offered small homes re-. All major costs, such as morts . quiring $2000 or more down. | gage charges, realty taxes, fire
“problem THT nance; “are
7 RC ie
it"Up when It goes vacant (very cluded, becaudk these are conside rare), selling it on contract withered household operations. =~ a ~~ If you are now paying rent and CA I | spending about 25 per cent of your gross income for shelter, New York Life’s thumb rule for home ownership cost might be of interest before you . decide | whether or not to buy. It shows. if your annual income is more than $5000, you might save money on annual shelter costs after the plunge into homes |ownership has ‘been made.
; Home Builders * Plan an Outing