Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1882-04-09

shswssgs - Make Ola.Tlme settler
oDea Their Eyes and Wen.
der % sbe AlghSy
Rise.
Ass - sssse 81 The Iopsssans IN.
pesve0e1ts In PsssDees -
the Grounds - Val.
uahDe.
THE ADVANCE IN sALLs.
For the past four or Eve years there
has been general and steady advance
in the vslnes Of all real estate i'm and
about Seattle. This advance has been
based upon the sure and solid Pounds
ton Of actual prosperity and growth.
and upon demand for property for the
purposes VI improvement. and not SOLE
~ upon the quicksands Of wild specula-
ton or the inflated ideas Of visionary
schemers. To show ths general charac-
ter Of this rise in values it may be we'll
To give few illustrations. During the
past three or four years prices Of pro
perry on Front street, for instance, have
advanced quite rapidly. A lot joining
Samue ksnuey's corner was sold three
years ago to Vim. Walker. OF Port Gam
BILE, for goo, and that gentleman re-
Gently refused 81, COD for the same.
The lot joining this property on the
north was sold to NJ. =. Drew. of the
same place, for less than $500, and &c.
~ would not touch it today. The pro-
prerty ON the corner If University and
Front streets was sold ~ l.. DiIler, three
years ago, for x:3.Oo-a few months ago
one fifth Of it brought as much rs the
entire purchase price. Going further
north. to the corner Of Front aud Pike
streets, we find lot purchased in 1872
by Robert Abrams for $500 and sold in
1880 for $500. and today the same pro-
psrty could not be touched for less than
$6OO: and 80 We might 90 on al mimi
tim, but ws have cited enough to make
our point cieaD Business houses erect
al On any Of this Front street property
will pay from to 5 per cent. per month
on the investment. allowing literally for
the ground.
A POTENT ARGUMENT
For those owning vacant property in tho
business district to build thereon. Two
years ago the ground on which the Post
Building now stands was occupied by a
wooden structure, and brought rental
Of about *25 per month. The brick
building which has taken its place pays
rental Of $500 per month, or more
than Quo and One-quarter per cont. per
month OH the entire investment over
and above taxes and repairs. Two years
ago the lot on which Gatzerf's Front
street block stands sold to Cove and
Scott, Of Port Gamble, for 5000. They
held il year and sold it to Ga.zert for
$1,000. He invested about &l5Oo in
buildings and now receives n monthly
rental Of not less than xlO0. The Col
man water block, On Front strset. was
given to the Seattle and Walla WalIa
Railroad Company by the Terry estate
| at nominal consideration in 1871. In
1878 Mr.. Colman paid the company
about 5000 for the property and. after
holding It three years, refused thirty
thousand dollars in gold coin for the
block. He has since erected ten of
twelve cheap, but neat. wooden build
ings along the Front street face Of the
property. all Of which are rented and
paying the largest kind Of interest on
the money. In 1878 John Sullivan
bought lot 6Ox1aO feet OH Front street
for 5000. He invested 5000 in build
ings and receives therefor q monthly
rental of about $lS0. On james street
II. Butler has laOxla0 feet which cost
him in the early days about 800. He
has put ON buildings at an expense ot
less than $1,000. and receives monthly
rental Of $50. II. l.. Yesler. principal
| property owner in the business part Of
town, hts no less than forty business
houses rented, and receives all the way
from q 10 : per cent. per month on his
| investment in buildings and property.
In 1Sis Francis McNatt, OF White river
owned the corner where Fl. j.. Yeslei
now lives. lie Ma anxious ~ sell the
place. and by way Of accommodation
Mr.. ieslcr took il of his hands At $1,000
The owner has standing offer Of $780,.
m for tho property. II. McAlesr in
1850 paid SIS for lot On Commercial
street. He put on buildings at an ex.
penae Of 5000; receives $l95 per month
rent, and refused, few days ago, Il
sill for 425, Om. Tho two-thirds Of a
lot On the corner Of Washington and
Commercial streets was bought IN the
early days by l.. =. Wyckoff for eco. He
put ON buildings ut NIL expense u not
over 4sNO. The property has brought
$lO0 per month rent for many wears.
Wyckotf sold it ak months as,o for $lO,-
O0l, and IL has since sold for *li.OW
and We doubt il xaO.O0O would induce
Mr.. Aand, the last purchaser. IL part
with It,
N xtDps ADDITION.
A Al. \ lts- Il 4 ,