The herald., 1895-01-20
A BOOM IN BUSINESS BLOCKS,
Several More Big Buildings
Will Go Up.
Second and Main Street the Site of
One of Them.
eartori q Hellman Lease Kaspare COINS
Corner for Building Purposes.
Deals in Dirt


Los ANGELES. jan 10.
Leasing OF prominent co-nors and erection of
business blocks thereon seems 10 BIO y favcritc
form OF investment at the present time Moth
ing could illustrate the condolences OF capital
lists In tho impe ed.ste future of the city 10 bet
ter advantage than tho terms upon which
some OF these leases are made.
Tho latos. case in poin. is the leasing of the
northeast corner Of Ma n aud Second s.rssts by
J. T. Sartori and Maurice g. Hellman from Kas-
| pare Cohp, for term of 10 yeara with tho OPP
ton of i've years more at the ennusl net rem tai
of $4,000 year. payable quarterly, the lesoes
10 pay all taxes insrrsncs, street aesessments,
etc. The term of the lease began JaruaIy 1st,
| las, and IL months from that date tho lessees
must have ma ie Improvements on the lot
worth ut least 8 %. 900. and 90 much moro as
they may desire.
| The property fronts 81 foct on Main street
and about $40 on Second, and is at present
cow red with one.story structures. These will
be removed ss soon as practicable. and hand
some brick block erected on the site.
Messrs. Sartori and Hellman havs no. yet
| fully dec ded as to the details and cost of the
building, butt will probably BIO three-storles
high and designed for stores and Offices The
proximity of the building to tho bnsines1 cen.
ter will make 1t very valuable income prop
erty. The lessees are being generally congratu-
| lated on having secured decided bargain.
| 1t was Messrs. Sartori and Geilman who FIRST
leased the southwest corner OF Broadway and
Fourth and tho northeast corner OF Th'rd and
Broadway. They almost i'm m ediatoly sold those
leases at handsome advance.
MRS wEINsHANK WILL BUILD.
Mrs. weinshank IS making arrangements to
erect large btick block on Second street be-
tween Los Angeles and San Pedro. The cost
and plans have not yet boen decided upon.
A NEW sTIMsoN BLOCK.
| There is a probability that T. D. 8timson will
| ere long erect large block at the south west
corner OF Thru and Broadway. 1t will not be
so tall as the Stimson block at the northeast
corner of Third and s,rng but will occupy
more ground space. Mr.. stimson says he has
been wanting to tate trip, and II he does not
so away, for awhile, he Will probably com
IN !nce the new block within the next year.
SECOND AND SPRING.
1t is stated the negotiations for the lsase Of
the southeatt corner OF Second and Spring
street,, for the purpo OF erecting large bust
ness block thereon, have fallen through and
The deal is now entirely oft y Is SAID ss s
hthucikco inhu mas peou u,ckotiHS WIN .A.9
| Wilcox estate for the site The property fronts
| 40 feet on spring street and 1855 feel on Sec.
ond. The proposed lesse wanted the use OF
valuation of $225,00O for this Int and per
cant on the cost of the building. He proposed
to build the block only threestories high Al
enough for an eight-story building. 1t Is I'M.
d -T. TODD that the deal fell through partly be.
cause an agreement could not be reached as ia
the nd OF building to be erected, and partly
because the interest on the ste would only
amount to $4,000, whereas the present renta
| Is 1924, 600 per annum.