The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-03-31
IMPORTANT DEALS
IN REAL ESTATE.
Property Amounting in Value to
Nearly s1,GNM,OoO Sold During
the Past Week.
HOTEL SITES ARE WANTED.
Probability of Some of the Down.
town Skyscrapers Being Turned
Into HOstelries-GOud Prices
for West End Property.

Property amounting to nearly one million
dollars in valiIe changed hands IN two deals
last week. the Emile building and site
mt the southwest corner Of Ninth and
Olive streets having been sold to the Mer-
camille Trust Company for S425. 900, while
the old Bank Of Commerce building and
site, on the northwest corner of Broadway
and Olive street, was purchased last Thurs
day by the Commonwealth Trust Company,
the price said TO be close TO 500. 0O.
These two transactions and others record
ed. pending and prospective. mark an era
In real estate circles in which all records
Tor transfers and prices are expected 10 be
shattered. Inquiries have been received by
the owners of nearly every desirable BUSH
hess site in the city concerning their readi-
ness to sell, while even the sites occupied
by costly skyscrapers. which would appear
too valuable for negotiations to be success
iul. have been the subject of offers and
inquiries.
Several offers ave been made to the nro-
prietors OF downtown business buildings
by hotel proprietors who desire to Use them
d0r hotel purposes during the Worlds Fair.
me Readiness with which a modern office
building with its rapid elevator service and
It's numerous small offices could be trans
formed into a h!gh-class hotel, with the
ADDED advantage OF Its iireproof construc-
ton. has caused such an activity in in
Guiries and offers that 1t is practically GER
tain a deal will be closed for at least one
of the skyscrapers within the year.
The week just past has been remarkable
Tor its heavy sales in every line of property.
While the business districts especially are
now beginning to show the effects of the
worlds Fair: an indication of the demand
for property i'll the residence and West End
business districts Is evidenced by the sale
handled Saturday by James NJ. Franciscus,
Jr:, of the firm of NIoffett 4 Franciscus,
who disposed of lots throughout various
sections OF the West Enc districts for ex-
cellent prices.
Other sales of residence property were
closed during the week by several agents
at exceptionally good prices, but the inter-
est is just now centered in the business
district. where the heavy buyers are COM
menc1ng to operate. Several deals are now
pending which will possibly make the rec
ords OF a future week even heavier Than
those Of the last week.
1t is reported on good authority that a
hotel will be erected on Twelfth street near
Oive, II satisfactory arrangements can be
made for the site, and Thomas Hayden,
of the property extending from Lo-
Gust street half way down to Olive street,
mas received several offers for his land.
He stated Saturday that he has given an
option on his property on Twelfth street to
a certain party who is DESTROYS of building
a hotel on the site. Mr.. Hayden is willing
to lease his land, and the deal is likely 10
be closed one way or the other the ensuing
week.
The north half of the block on Twelfth
street between Olive and Locust is owned
by Hayden, while the south half Is owned
by Mrs. Doctor j. b. johnson. If arrange
ments can be made with Mrs. johnson the
deal will be closed Immediately. The only
Gently taken out by Guerin on the north
west corner of Olive and Twelfth streets,
but it is thought that this matter can be
The nroperty nov ovnad nv Haydan u,s
by him fifteen years ago in two lots
of seventy-five feet each. At that time the
property was valued at $3.50 per foot. The
being worth at least $3.50 per foot. a
indication Of the increase in real
estate values.
block was occupied b. heavy timber and
could have been bought for a mere song.
1t was part of the Lucas estate and passed
into the hands of Mrs. johnson, who was
q Miss Lucas.
Changes equally startling can be noticed
in other sections than that around Twelfth
and Olive streets. Concerning the sale or
she Emile lille ,cS building m q at Sin tn. ana aI,a e oi i've
old Lucas homestead. Mr.. Benoist of the
Valley Trust Company has the
following to say:
when we look back what seems to be
but a few years we see on the four corners
at Ninth and Olive streets the old Church
Of the Messiah. which was afterwards
luIneQ INTO rope 8 lntaCeE, WlcEe the CeNC-
ury now stands. On the northeast corner.
now towers the Federal building.
was the residence OF Doctor Tandy. which
back In the yard. at an elevator OF
about ten feet from the old brick sidewalk.
ION the southeast corner was a row OF
little two-story buildings of six rooms each.
which stood back from the sidewalk and
,bout eight feet above It. with an old stone
vail in front. AT the southwest corner OF
and Olive streets was the Reyburn
esidence. while on the southeast corner
II Eighth and Pine streets was the old
3cnoist residence. which occupied the south
lalf of the block on Pine street. running
rom Eighth to Ninth streets. the residence
m Ninth and Pine"
The change is striking at present, and |
ven more striking changes will be made
vithir the next three years. when modern
buildings will be erected en- the sites now
by old-fashioned office structures. |
The hotel to be erected on the site Of tn
" Henry Bradford of the Bradford Realty |
will make a change in the present |
spect of the southwest corner OF these 4
treets. The structure will cost in the neiSn-
,orhood OF s36C.CtU. and Will be twelve |
stories high. containing 800 rooms.
Mrs. E. S. Wooten is erecting a rooming
nd apartment house. similar to the private
lotels already In the neighborhood. at Tay-
IT and Mcpherson avenues. The structure
ill cost about SEA. eco.
At Twelfth and Washington avenues, On
ne northwest corner, the refers ShOe COM |
ANY will erect a modern seven-story mer-
antile house. which will further increase
he number of such establishments in the
.eighborhood. At Thirteenth and Wash
the site of the Belvedere Hotel will
c occupied by a mercantile house to cost
GO. erected by the Reyburn boys.
These buildings. with the three mercantile
ouses now II. process of erection on WASH
avenue between Eleventh and
welfth. point to a settlement of mercantile
ouses in hat section of the city and prom
e well for the property Of the neighbor-
God.
The question of the Fair site Is still ex-
ting general interest, and the action Of the
,ouse of Delegates yesterday In throwing J
I'D water on the idea of locating the Fair
Forest Park is thought likely TO have
n effect tS some real estate dealers. All
rcdict a rush OF business as soon as the
tie Is finally announced.
continue good, and satisfactory
ports are made by all agents on this
lint. Several report negotiations now on
hich will result in the establishment here
new manufacturing concerns. IL success
plant attracted here by the
'orld's Fair is that of the lola Portland
,ment Company of lola. Kas., which has
ased the building at Theresa avenue and
e Wabash tracks and will start a manu-
Glory here. Negotiations to that effect
ere closed last week.
FOR ELECTION OF OFFICERS.