Virginian-pilot. (Norfolk, Va.) 1898-1911, 1899-06-10

In its Issue of Wednesday the vir-
| ginian-Pilot outlined the big sale of
| Chesapeake and Ohio real estate that
| was on foot. Yesterday Mr.. G. d. Wall,
of Richmond, of the real estate depart
ment of the Chesapeake and Ohio Com
pany, returned to Norfolk and was
closeted with members of the syndicate
of capitalists who were earnestly de-
sirous OF securing this valuable prop
erty.
The sale was concluded at the real
estate Office of Messrs. 3. r. Jones &
Co., in the Columbia building, and last
night Mr. Wall left for Newport News
to attend to important matters there
] leaving Newport News for Richmond
this morning via the Chesapeake and
| Ohio.
PRICE ABOUT s17O,45O.
This property fronts 351 feet on
| CRANKY street and about 100 on Taze-
we'll street The company asked S175.-
900 for the property hereinafter de-
not disclosed last night, but is said to
be about $l10450. This figure is on
basis of $3.50 per front foot for the
Granny street frontage and SIPS per
front foot for that on Tazewell street
MIR. CANTPE GETS A LOT.
Soon after the syndicate had picked
up its big plum from the bargain coun-
ter. Mr.. Abram Z. Campo, of the D.
Lowenberg Boot and Shoe Company,
took one NJ the CRANKY street lots at
$4I5 per front foot, and sales were also
made . other individuals at better
prices one lot going for $500 per front
foot. Among others who are stated as
early buyers are Reid Bros, one lot.
and the Tazewell estate. two lots.
THE PROPERTY SOLD.
The property sold is described as fol-
lows: Beginning on Brooke street, 100
feet from CRANKY street, easterly 120
feet to CRANKY, thence northerly 35l
feet on CRANKY Ito this sum add 40 feet
for width Of Tazewell street,, thence
westerly 25S feet, thence southcrly ia
feet, thence westerly to Boush street,
thence southcrly Is feet. thence easterly
along Tazewell. to within 100 feet of
CRANKY street. thence southerIy to
place OF beginning.
ABOUT TEN DAYS TO CLOSE.
1t is estimated that about ten days
from date will be consumed in the in
vestigation of the title to the realty. be-
| fore deeds will pass. This will. how
ever. not delay sales. as there Is pro-
| baby no doubt that the title to this
bonanza property is absolutely with
out flaw. 1t is understood that more
sales or lots to local people will be
made this week and next and that these
| sales are not for speculation purposes
but the purchasers desire the lots ms
| the sites of business blocks. some OF
| when are TO be erected in the near flu
| ture.
VALUES STEADILY INCREASING.
The way In which CRANKY street
property has rapidly increased of late
| is not surprising to many who have
Kept their eyes on the tendency of bust
| ness that way. Last night one Of Nor
folks shrewdest capitalists gentle
man who is one OF the largest individ-
ual property holders of this city. when
interviewed regarding the sale, stated
that he expected the CRANKY street lots
to advance to about $500 per front foot
within few weeks.
RETAIL TRADE ON UPPER FLOORS
When interviewed last night on the
subject of the sale and character of
the structures to be erected GET the
CRANKY street lots. Mr.. D. Lowenberg.
who was instrumental in financing the
zeal, SAID that the tendency of retail
trade now in the larger cities Is to seek
the second, third and even higher
floors of business blocks, desirably To-
Gated and built with the view of ac-
commodating general retail trade.
There are q few examples of this in
Norfolk to-day. especially in the furni-
ture line. and 1t is Mr.. Lowenbergs
idea that the wise investor in Nor
folk business structures will erect
buildings with this end in view. With
the fine modern elevators, space Is an
initiated and the tenth floor of a
building is practically as good as the
first floor, so far as convenience Is con-
cerned.
LEACIIE-WOOD SITE NEXT.
1t was rumored last night that the
site Of Leache- Wood School may be the
next piece OF CRANKY street realty to
change hands. and that strong syn
dictate of local capitalists is DESTROYS of
securing it. with the expectation that
the advance of business up CRANKY
street will make it. ere many years. n
most valuable site for business uses.
Loft Cor Now York.
Mr.. Peter Wright, president OF the
Virginia Electric Light Company. left
last evening for New York. preparatory