The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-04-07
Real Estate Transactions Show
Improved Conditions and In
crease of Buyers.
GREAT ACTIVITY IN BUILDING.
Mercantile Trust Company's Re.
markable Record for Last
Fortnight - Interest in
Residence Property.

Heavy sales have abounded the last two
weeks. and the record OF the week just
closed is a striking testimony in this respect
to the value of the Worlds Fair. While
every agent reports improved conditions in
his business and a marked increase in the
number OF prospective purchasers. the deals
transacted In several lines of property have
been SO marked as to deserve special men-
ton.
Downtown property has been changing
hands on leases and in direct sales with
unprecedented rapidly, and the list of the
Mercantile Trust Company for the last
fortnight is a remarkable one. In that pc
Rod this company has handled deals
amounting to over 100000 and involving
some of the most desirable business sites
in the city.
A capitalization of their sales and leases
includes the sale of the Emile building and
site for $4,000, the sale of the former LIZ
gett e. Myers building. No. l226 Washington
avenue. Tor $1,000; sale of northwest cor
ner of Thirteenth and Washington avenue
for $1,000; the lease Of the northwest cor
ner of Tenth and Olive streets at 5000 per
annum for five years and $3.50 per annum
for ninety-four years thereafter. with privo
ilege of purchase by the lessee for S2Oo.VV
within ten years, and the lease OF the
southeast corner of Tenth and Olive streets
on a basis of 4 per cent on $lS1,2a.
Besides these deals in business properly
the company has handled real estate trans
actions in nearly every quarter OF the CITY
and In every variety of residence properly
and sites. from the residence No. 1890 Lin
dell boulevard. formerly the property OF ):
NJ. Kennard. which they sold for 20.0co. and
a lot in Portland place, which they sold for
s1T,50a. to small lots and cottages on Cote
BrilIliante. Ohio and louisiana venues.
Mr.. l.. L. Anderson. in charge of the
Mercantile Trust Company's realty depart
meIt and vice president of the company,
stated that the Worlds Fair influence on
st. Louis real estate is in no sense a
boom" but is a permanent benefit. and
has awakened interest in the city and
caused business men to realize that st.
Louis real estate is cheaper than in any city
of its size in the world. The fact that the
city is prosperous ard growing rapidly has
also led to increased opportunities in real
estate investments. and permanent good
will result from the investments caused by
the Fair.
Interest I'm Residence Property.
The increased interest in residence prop
erty is shown by several deals transacted
by the Nicholls-Ritter Realty. Company
the sale of No. 1874 Mcpherson avenue, on
behalf of Mrs. A. K. Humphrey, TO W. p.
Greyson. for $4,000. and the sale Of the
southwest corner of Mcpherson and Kings
highway boulevard. with a frontage of 1S5
feet Oh Kings highway and 1N6 on McPher-
son avenue. for $4,000.
that the demand for real estate of all
classes is increasing. Several agents re-
port that the rentals of the last week have
49, VIZ 0U -
ceived queries from out-of-town business
men regarding ST. Louis as a possible field
for investment.
Malcolm Macbeth. president Of the Real
Estate Exchange, received lately several
letters from business men in Chicago and
other large cities and even from Florida and !
Idaho discussing prospective business. One !
wished to erect a hotel here, and asked for
information concerning a desirable site, /!
while others wished business sites and mer-
Camille locations. |
Activity in Building. /
The activity in building is as marked in
all lines as is the demand for property
available for immediate use. Eoth business
and residence structures are going up al
over the city. and in business structures
now being erected more capital il involved
than can be recalled at any previous time
In the city's history. !
Nearly all the business corners leased
lately have stipulatiors attached concerning
building5 to be erected. and the sites sold
outright are in almost every case to be
covered with. fine business houses. The
and Olive streets. leased to w. A. Gill for
80 years. will shortly have a building erected
upon the site to cost s2o 900: the property at
Realty Company for 90 years. will be occu-
pied shortly by a building costing $4,000:
the property at No: 1226 Washington avenue
ent structure by its purchaser. Thomas
Dunn: and the property at Thirteenth and
Washington avenue, sold to a client of L.
h,gh-class mercantile house.
Other buildings which have already been
mentioned are the Brown, Morton and Cat
lin mercantile buildings to be erected on
the south side of Washington avenue be-
tween Eleventh and Twelfth streets. which
will aggregate 100000 in cost: the business
house which is to be erected on the site Of
the old Belvedere Hotel at Fourteenth and
WASHINGTON avenue by the Reyburns and
which will cost SIZE, 000; the Bank of Com
merce building ut Broadway and Olive,
which will cost ssoo.ooo: and other structures,
Including the new Mercantile Trust build
Ing. which will cost about $3.50, 900. the sum
total OF which represents more capital than
has been invested In building operations at ;,
any one time in the history Of the city.
New Buildings Projected.
Buildings projected are numerous and will
add immensely to the sum total Of capital
invested when definite arrangements are
made. The Peters Shoe Company building.
at Twelfth and Washington avenue; the
two hotels projected for Twelfth and olive.
one OF which is intended to cost $500, 900: the
Ro,enthal-sloan Company building. which
Will be erected in the neighborhood of
Twelfth and Olive. all show the interest
taken In real estate and building.
The activity in residence districts Is no
less marked. Dwelling-houses are being
erected rapidly in the West End, Berlin ave-