Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-03-01

Lucky Investors I'm Suburban Property.
now SYNDICATE PROPOSES TO RAIsKiMosEY FOR
rNPRovExESTs-THE COLONIAL STYLE OF
ARCHITECTURE LIKELY TO BECOME GENERAL
HxRK-oTHER MATTERS OF INTEREST.
The handsome profit made by ex- President
Cleveland in the sale of his home on the Ten
leytovn road is regarded by many only an
other Illustration Of Gle Glands luck" There
have been, however, quite a number of others
who have disposed of their property in the
same vicinity upon very advantageous terms.
A large portion of the land there has changed
hands several times in the past four or five
years. and II has been no uncommon experience
to clear forty fifty thousand dollars by the
sale Of Q farm that seven or eight years ago
could hardly have found purchaser. Ex-
Secretary whitney, is well known. bought
his place before Mr.. Cleveland made his i'll
vestment and after holding the property
about three years nc disposed of it, netting the
handsome sum Of 1000. The Davis farm
on the LOughborough road, which will
be the site OF the proposed new Meth
odist university, Was purchased for 500 600
MIR. Davis, the owner, bought the farm some
years ago for 5000 ana has since lived there
The syndicate which purchased in the spring
OF 1886 the Nourse property. now known as
Richmond Park, for S32. GOO, the next spring
sold 1t for $1,000. About one-half of this
tract was recently sold for SlO5, 900 by the
Richmond Park syndicate to the California
syndicate. The Iturbide tract lust beyond
Oak View on the north, was sold in the fall of
81 tor $4,000 per acre. having been bought the
preceding sprM5 for -, 500 per acre. The Var
nell property. opposite Oak View was sold in
the fall OF 50 for about 1880 per acre. The
Countr, club property. adj joining Grasslands,
was sold III October. so, for over $500 per
acre, and IN the following spring about 81, $40
per acre WAS paid fer the same property The
hengla tract was purchased about four years
ago FOR ii ,OeO per acre, and was recently sold
for nearly three times that amount In the fall
OF 81 S32, 500 was paid for the Mason farm and
few months ago it was sold for 81, 800. In
the same vicinity the Bradley place, known as
cherry Chase, was purchased III May, ~, for
ell, 500 and IN November 1t was sold for sea, 000
The purchasers were what is known as the bull
lit syndicate, at the head of which is John
z. Bullitt, the wealthy Philadelphia banker.
The latter in con junction with Anthony J.
DreIel Of Philadelphia and Senator Cameron
purchased in 1887 the kalOrama tract and paid
tor II 500 900 IN cash. This property was sub
divided and it is said that lots to the value of a
half n million of dollars were sold ut once, thus
paying back not only the original purchase
money but the amount spent in improvements,
interest, &C., and besides q large number of
lots are still retained by the syndicate.
All these transactions, as far as the price paid
per acre Is concerned. are thrown in the shade
by one of the purchase reported to have been
made by the California syndicate. 1t is stated
bridge tract the sum of S5OO,U00. This is over
$1,000 per acre, which is the highest price ever
paid for suburban property.
PROPOSED ISSUE OF REAL ESTATE SCRIP
rather novel idea is now being considered
by syndicate for developing their property
They propose 70 issue scrip which will have a
certain par value and which can be located in
the lots in the subdivision owned by the syndi-
cate. The price per loot of the ground will be
determined and this valuation will fix the
amount OF scrip that may be donated ON each
lot. The value of the scrip will fiuctuate with
the value of the ground. If the value of the
ground is 25 cents per foot then the scrip upon
the basis of Il per foot will be at a discount of
IS cents. When the land reaches u valuation
OF 81 per foot then the scrip will be at par
The ground owned by this syndicate which is
known the Thompson syndicate hes on each
side OF Massachusetts, avenue extended from
Rock creek 10 the Tenleytown road The in
tention Is to subdivide the entire tract of $40
acres and grade and open the streets One
fourth OF the money derived from the sale of
the scrip will be expended in this way III the
plans now under consideration are carried out
Ii Will be one OF the most extensive enterprises
IN this line ever undertaken by one set OF men,
IL Is probable that the section of this tract
bordering on the Tenleytown road will be first
subdivided, as the expectation seems to be that
owing to the building Of the Tenleytown cleo
tric road there will be a demand for building
sites III that locality.
This probable demand is given as an explana-
ton OF what some regard as the high price paid
for Oak View. II is said that the property can
be subdiSlded at comparatively httle expense
and IN such a Way will leave undisturbed the
dwelling, house surrounded by about two acres
OF land. Ii Is claimed by those who have made
the calculations that the lots in the subdiyi-
sion OF Oak View at the current prices prevail
ing In that section be sold so that the
owners will realize 800, 900.
REsIDESCEs OF THE COLONIAL TYPE
The residence which the widow Of ex-Sena-
tor Zach Chandler is building at the northeast
corner Of 10th and 4 streets will be a notable
one in many respects. Its chief point of inter-
est IN the opinion of many will be that it rep
resents new type of architecture in this city
The design Is said to be purely colonial One
OF the chief features Of this style is the yellow
or bun color and in this house the exterior
walls will be built entirely of buf-colored stone
and brick The plain lines and ornamentation
peculiar TO colonial architecture will be faith
fully adhered to. The principal entrance, which
VIII be from 10th street, will be marked by a
circular porch resembling In general way the
porch Of the old octagon house at the corner
OF New York avenue and 18th street. A line of
pillars will support the roof of the porch and
the flight of steps will extend around the en-
tire porch front The size of the lot which ia
larger than is usually available for city resi-
dence, "a well as its location ON a corner will
enable the architect to introduce many details
which have made this style Of architecture so
popular Of recent years.
While Washington can boast perhaps of
greater variety III house architecture than any
other CITY in the world, yet for some reason the
colonial has never been introduced here
There Is only one modern residence where
this style may be said TO have been EMPLOYED.
and that Is the house owned by Mr. Cropper
on u street near Connecticut avenue The
front Is built of buff brick and white marble is
used for the trimmings. The introduction of a
circular projection extending to the third story
Is necessity due to the location OF the house
on city lot OF the usual size in the midst OF
block OF houses. But the wood work Of the
front door frame and the door presents a beau
uful example of this style, with its futed col
umns and pilasters. The wood work of the in
terror IL consistent with this type OF architec-
ture and the doors are of heavy mahogany.
which were formerly, it is said. in an old house
Is probable that this season may witness
the birth OF q new architectural fashion While
mere Is plenty Of nondescript architecture vet
the period Of the prevalence of certain types is
clearly marked What was known as the Rem
aissance period with a kind of eruption of
French roofs was followed by the Queen Anne
period and the numerous beautiful specimens
Of That style contribute materially to the repu-
tauon winch this city enjoys for handsome and
picturesque residences Then came the Roman
esque PERIOD which was stimulated BIZ the adj
vent in this city of the great architect Rich.
ardson, who made his influence or rather that