The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1900-09-28
SOLD
Sheet Building Now Property
of MesSrS Tucker and Daisy
PURCHASE PRICE $4,000
Fine Business BIoCk--Bought
as an Investment.

The Eagle is informed that the Scheetz
block. on the corner Of Market street and
Douglas avenue, was sold yesterday to
two Wichita men. Mr.. w R. Tucker and
Mr.. 0. c. Daisy. for $500.
With one exception. this is the largest
sale Of real estate in Wichita that has
taken place for years. The building is a
fine one and viii increase in value as the
years go by.
Within the past few weeks, unaware to
Wichita people in general, there has been
a rivalry for the possession Of this brick
block. While the property was not really
on the market. yet there were people in
terested in Wichita anxious to possess It.
Just few days ago an offer Of $50. 900
was submitted for the building On the
day following the sum Of $4,000 was
onered, and still no sale. Later Sc. 500
was announced, but the sale was not con-
summated. A short time after that offer
was given in, another of $33, 500 was sub
mitted. and as last offer, and the one
which took the building, that Of $500
was made by Wichita men who have
faith that property values will increase,
as they will
TIE deal for the building was made be-
tween Mr.. George T. Walker. as the
agent Of the Cherokee and Pittsburg Coal
and Mining company, and Reese & Co,
Tor Mr.. Tucker and Mr.. Daisy. The en-
tire transaction occupied the business
hours Of yesterday, and last night the
final contract was closed up.
The Scheetz building has a history that
is interesting. It was the first brick
block to be erected after the boom in
Wichita For years the walls Of the
building. which were erected up to the
second floor stood on that corner sur
rounded by a high board fence which was
used as a billboard and every stranger
who came into the city took especial
pains to ask the reason Of the non-corn-
pietion Of the block.
The building was commenced by Mr.. 7,
q. Scheetz, whose name the building
now bears. It was just at the waning of
the boom, and before much progress had
been made the construction OF II was nv
force Of circumstances stopped. For sew
eral years no acton was taken. and to
indemnify themselves the Cherokee and
Pittsburg Coal and Mining conpanv tool,
in the property on lien, giving Mr.
Scheet an option to secure the building
after its erection, should he desire TO do
Sc.
Mr.. fScheetz has had three options on
the building. One was for term Of
years and after it expired another for q
few months was secured by him. At the
expiration Of that option another was
asked for and given. The last one expfr
&c just a few months ago.
At the time the Cherokee and Pittsburp
Coal and Mining company secured con-
troll OF the property in its unfinished
state. the taxes had accumulated on the
property and there were many things. in
the way Of claims. against the property.
which had to be settled up before the
hnishing Of the proposed building could
De taken up. The company placed the
property in the charge of Mr.. George T
walker and with untiring efforts he
worked 20 get the matter in condition for
the bunting Of the block The taxes
were arranged satisfactorily, the claims
We're adjusted and the construction was
resumed. Wichita people watched that
building with interest. They never tired
OF commenting on the progress They
talked Of the beauty Of the corner whom
1t was completed and Wichita peonla 3,
general are glad 10 know that two NJ
"ichlta citizens are TO own the fine
building.
The purchase OF the property as an IN
Vestment IS undoubtedly a good one. Is
the corner viii grow in value. The first
hoor Of the building is used by Offices
and store rooms and the second floor is
occupied by offices. Wichita Commercial
college has the entire third floor under
a contract for term Of years. The rents
rem the different floors Of the building
VAL pay good rate Of interest upon the
amount of money expended
II would be hard to estimate The cost
OF TIE building, owing 10 the different
complications. from the first owner u,tf,
the actual building Itself was On the
ground Just how much money NJ
Seheetz placed in the property is not
known. but the cost Of he LOT AZ +sa
urne II was purchased was a large SIM,
IN itself The different liugations. taxes
etc. amount 70 a large sum- but in sDita
q that the investment has been a profit
able one even for the Cherokee and
Pittsburg Coal and Mining company.
The new owners of the building have
lived many years in Wichita Both NJ
tucker and Mr.. Daisy havet watched the
development OF the city. They have
watched the change in the value of the
property here. Quick 10 take. advantage
OF OPPORTUNITIES. both men decided to Sc
cure the Scheetz building. and the result
was that Of yesterday.
MeSsrs. Reese & Co. who made the
purchase Of the building for the new
owners. have been working on the trans
action for different parties fer some .irsa
and the fact that they brought the mat
ter to close is an indication Of the bust
ness ability Of the firm. They have the
credit for handling one end of n deal for
one Of the best business blocks in tpa
cit..