Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1889-03-16
THE PETERSON BLOCK
SOLD TO THB DRY GOODS FIRM OF GBO. b.
STIPRL & co.
The Price Paid at the Rate Of Over One Thousand
Dollars Per Front Foot-Ihs Plans Of
the Firm as to It's Occupancy.

One of the largest real estate transac-
tions recently occurring in this city, and
one which reaches high water mark, as re-
yards the price per front foot, was conclud-
ed Thursday and made public yesterday.
The papers have not been actually signed
but the bargain has been made, and the
actual transfer will take place within few
DAYS. The property sold embraces whatlS
known a. the Peterson Block, on the east
side of Main street, just north of Twelfth
the frontage being forty-fOur feet on Main
street and running back one hundred and
tbirty-two feet. The sale was affected by
Real Estate Agent W. Il. Rinehart, Messrs.
W F. and B. Walker Peterson turning
over tina property to Mr.. Rinehart, acting
for the firm of George E. Stifel & Co., IN
consideration of $4,000 This is at the
rate of 81, OPS per front foot, and is con-
siderably more than ever before paid IN
Wheeling, at least so far as could be aseer-
tanned yesterday.
The property aspurchased by the father
Gifts present owners from the Zane estate
about 1866, and the building erected upon
the land marked about the beginning OF
the improvements along Main street be-
Ueen Eleventh and Twelfth. Before the
transfer to Mr.. Peterson the site was only
occupied by a couple Of frame structures
and the remainder Of the square upon the
east aide was little better off in the way OF
bindings. The Peterson block was
completed in 1867, and within few years
there was an uninterrupted line OF hand
sor,e busiuess blocks along the entire side
of the street, they taking the place OF the
picturesque but Improbable sand bank
which had previously occupied that neigh
borhOod.
In corroborating the sale yesterday, Mr..
W + Peterson said 1--WE were not anx-
ions 10 sell, but we got our price, and con-
cluded to let the property 90. 1t Is a hne
location, and will grow more valuable IN
the future The fact is, Wheeling real es-
tate. especially for business purposes, IS
low. and has been so. In no other city Of
our population, wealth and trade can the
best business real estate be bought az 30
reasonable a figure as here in Wheeling.
This has been demonstrated time and
again"
A representative of the firm of George E.
stifel & Co, said I'VE will not occupy
the building until the expiration Of the
present lease, which runs another year.
Then We shall take hold of the baildings,
which are IN first class condition, have
them remodeled, and the lower floor turn
ed into one mammoth store room, arrang-
ed upon a plan particularly suited to the
dry goods trade, after the manner of large
Eastern stores, and fitted up in the best
manner for the convenience of our patrons
and ourselves. The front will probably be
changed and beautifed, but of course we
cannot tell as yet just what will be done
in that respect"
Had you trouble in obtaining new
location ?n
Indeed we had. Property is held very
tenaciously along Main street, as we soon
found when we first set about purchasing.
Bu. we think We have a fine location, end
are much pleased"