Los Angeles daily herald., 1886-03-12


mented with u symmetrical tower sur.
mounted by flagstaff. The building
has been handsomely engraved for use
in the forthcoming ANNUAL HERALD
which will appear now in short time.
The cost OF the structure will be some.
where about $4,000. This figure is a
reportorial guess.
The third structure selected for illus.
tration of what is doing hereabouts is
the Lawyers Block" as it is getting
to be known, on the corner OF Temple
and New High streets. This is double
block with one face on each street. 1t
will be some 30 feet by somewhat over
100 in area. Three stories, like the last
described. It will be very substantial
and will ornament this central corner
very pctaresquely. The lower floor is
understood TO be for purely business
purposes and the upper stories will
probably be filled with the members of
the Los Angeles bar, who will want to
be near the new Court House, which
will soon be begun on the hill above.
As previously stated the double block
will cost $780, ,ClO.
Here are three solid brick blocks with
fine stone facings costing in the aggre-
gate about 100000 They do not
stand alone here, but are chosen because
they are just begun and show what is to
be done here this season.
THE EMBRYO BUILDING
Projects for the opening campaign, their
name is legion and they rank up full
abreast of, or even over:op. the best of
those named. The Raymond Hotel at
Pasadena and the new one at Santa
Monica do not do away with the need of
thoroughly good hotel in this city.
They do not even lessen the need of
good commercial hostlery. On the con.
trary, they increase the demand for such
an establishment. One will be erected
here by some person or combination be-
fore the winter comes. If only the
Board of Supervisors would get out of
Mr.. Louis Phillips way with the
county Jail, he would get in before all
competitors in the race and the corner of
| Spring and Franklin streets would be
graced with a beautiful hotel Just as
| soon as brick and mortar could accom-
plish the work. 1t may be he will be in
time yet, but it would be a big rush to get
| it ready for the crowd Of tourists
who will visit us during the next season.
| All the excursion agents say the rush
| will be greater than ever. Many have
been deferred from coming here this
| past season because of the lack of hotel
accommodations. The Raymond and
the Santa Monica will bring them out
next season, and they will all want to
spend more or less time in Los Angeles.
| But if Mr.. Phillips finds he is too late
to put up a hotel he will put up block,
| asssolid and as beautiful, to be used for
other business purposes. 1t will go up
in some shape just as soon as the county
let's him.
1t is an open secret that the Tesch.
macher property, on the corner of Main
aud Sonora streets, nearly opposite the
| Pieo House, has been secured by Los
Angeles real estate syndicate. Some
parties have their eye on this together
with the Abbott property, south
of it, aud the Hellman lot next south of
that, reaching, all told, as far as the
Ferguson block, opposite Arcadia street.
Here is most ample room for a magnif-
cent hotel. 1t has ample street accom-.
mediation, with frontage on three streets
The price to be paid for the Tesch-
macher property, with the two three.
story brick buildings now on it is $780,
000 1t is nearly 1870 feet square. The
price is cheap enough. Even should
the property not be the chosen site for
the new hotel, it would be greatly I'M.
proved by building up the unoccupied
space between the two lodging houses,
and also that on New High street.
These are also merely Specimen
bricks" of the projects to be soon put in
way of execution. There are many
more of just such magnificent proper.
tions. The architects offices are full of
orders, details of which are not yet
ready to divulge. Several of these
offices could spread out work
whose aggregate cost would sum up
S400, ZOO to 100000 for each office.
The total sum for the campaign, when
the smoke of battle clears off next
autumn, will run up into few millions
of dollars.
REAL ESTATE Is HELD
With a very firm grip under such cir.
cumstances. Anything near the center
of the city is looked upon as sure
bonanza. This is specially true of the
property in the vicinity of these grand
improvements. The Jail will go up this
summer and spend $50, 900 on the hill.
The lawyers building will make prop
erty thereabouts more valuable. All
in round the postotlice is getting rapidly
filed up with fine structures. The new
court house will probably be begun as
soon as the Jail is done. The city is pre-
pairing to put up the City Hall, corner
Spring and First streets. Here is an.
other fine block to be erected,
scattering thousands of dollars
among the community. The corner OF
Hill and Second street, where Mr.. f. j.
Gilmore is building his big three.story
boarding house, two lots brought Sl0,.
600. Mr.. Louis Mesmer recently sold
the opposite corner, about the same area,
for Sl3, 900. The corner of Second and
Olive, about S0xl40 feet, with double
two.story house, is held at $4,000
SIS, 900 having been declined for it.
This is the reason why money
is worth 10 per cent. in Los Angeles,
while is the current rate on real estate
in San Francisco and in Oakland.
All property named above pays in.
terest on that amount at the prices it is
held at. There is besides the prospect
OF an advance in value. Near the GEN.
ter rents will not decline, while as money
falls in price, the property will go the
other way.
The HERALD was correct as usual
when il said ten months ago that 1856
would prove the most progressive yet in
the history of Los Angeles.
Another new project is one in which
Mr.. Lankershim is interested. 1t is a
brick block 70 feet front, three stories
IN height, to be erected on the east
side of Spring street, south of Third.
Then comes the rumor that the An.
heuser.Bush people, who are said TO
have taken violent fancy TO our an.
gelic city, wish to buy the Baldwin
property on the west side of Spring
street, south of the HERALD building.
This is about 100 feet front and is prob
ably held by the millionaire at about
100000 Mr.. Schiek has refused that
price-Sl000 per front foot for some of
his property nearly opposite the post
office. This is the highest figure yet