The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1899-01-12
GET ANOTHER BLOCK
CasweIl-BuckIey Building Pur-
chased by J. R, Mead,
PROPERTY Is IN DEMAND
Reason Is That it Earns
Money at High Interest

J. r. Mead yesterday added to his grow
ing and already large list of business prop
critics in Wichita by buying the Caswell-
Buckley building
The CasweH- Buckley building IS a two
story building, erected about 1889, and
stands at 500 East Douglas avenue, just
east of Emporia avenue. Mr.. Mead closed
the deal last night and filed the deed.
This, added to the fine Rushing block.
part of the Smith-Skinner block on North
Market street, and the building on West
Douglas, and other properties which Mr.
Mead has lately purchased in Wichita,
makes his new holdings here a handsome
handful, and indicates how strong his
faith in the Peerless Princess of the
Plains is. He has been through the many
stages of the city's grown and has always
been Of the first to see a coming tide. All
his property has been purchased with dis
erection, and it all has the capacity TO earn
money on the sum invested.
A prominent realty man OF Wichita yes
terday said:
Business property in Wichita is con-
stantly selling, because it now offers a big
return in interest on the investment, as
does residence property. Everything is
full and the trend is to an overlook and an
increased demand, with an increase of
rentals rates. A vacancy is unknown,
and vacancies were what killed the mar
ket, for so long as the trend was toward
light rental demands, vacancies in prop
erty were apt TO be frequent and no re
liable figures on the earning power of A
property in rentals could be arrived at. AS
it is now and as buildings are selling in
Wichita, q sum invested will bring in from
TO 10 per cent over and above the taxes
paid out on the property. I have found
that in residence property for renting pur-
poses, the smaller houses have the largest
earning power, with some few exceptions.
For instance, the demand for the houses
of medium sic being greater, the rents
are higher, compared to the taxes, while
in the larger houses, being in milder de-
mand and being heavier in taxes, do not
have the great earning capacity. But
there is demand for buildings Of all
kinds. I do not think there has been d
house in Wichita for the last year and a
half that has been rented out free, to
keep the insurance alive I verify be-
lieve that we are approaching an era of
growth which will not be secondary to the
famous one We had ten years ago. I be-
lieve that history in the investment world
repeats itself as much as it does in the
political world. If you will remember. our
Wichita's previous squirt upward was pre-
ceded by a great cattle inestment era. We
have today the cattle investment, and
there is no doubt in my mind that it pre-
cedes a second realty imitation for us. 1
know it for a fact that lot of the big
money made in cattle is coming to Wichita
today and is giving US some of the pros
perity which makes Wichita people so
happy, and point the city out as an object
OF admiration TO our visitors
Although the winter months are still
here, Wichita presents an appearance il
has not had for years. The new resi-
dences, new paint, gas mains going in, yell
low new telephone poles stretching away
down the streets, give the city an ap-
pearance which while being familiar. seems
like a reproduction Of the days Of 1855.