Banting House behind the discovery of insulin, as well as Banting's life and career. Its galleries focus on everything from his time spent in London, to his contributions in both World Wars, to his efforts as an artist. Some notable artifacts include Banting's original art, desk, medicine cabinet, and bed frame, as well as his Military Cross, the KBE, and his official replica of the Nobel Prize. Banting House was designated a National Historic Site of Canada in 1997. For decades, the public viewed the house as the "Birthplace of Insulin," and many individuals expressed their desire to have it turned into
Highest and best use the site is to demolish the house and sell the site as a commercial lot. The market value would be $225,000 ($250,000 site value minus $25,000 demolition cost). However, if the demolition costs rose to $55,000, the highest and best use would be the existing residential use, because the value as a commercial lot (now $195,000) would not exceed the existing value as a residence. This would be the highest and best use of the property, even though it is contrary to what actually exists. Even if the house is not razed and the site sold as a commercial lot,