The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-21
REAL ESTATE MARKET
SALES NOT ACTIVE. ALTHOUGH BET
TER CONDITIONS ARE EXPECTED.
Two BTs Mortgages satisfied During
the Wcck-The Buildings tn
der Nay-Tbe Transfers.

While there was considerable activity in
the real-estate market the past week. there
were no transactions Of special interest. The
amounts. with possibly one exception were
small. The total number OF transfers was
II. involving the sum OF Sl51. 9.o6 Real
estate men anticipate a large business IS
soon as the weather takes on a real sum-
mer warmth. and many deals involving
thousands OF dollars are being negotiated.
One item OF interest was the cancellation
OF two mortgages amounting 10 10000.
These. were recorded in April 1895 and were
executed BY John f Davidson and payable
20 Alexander Cassett and J. p. Green. off,
GERS OF the Pennsylvania Railroad, and also
officers OF the Pennsylvania Railroad en-
pIoyes' savings funds. out OF whose saw
ings the money was invested. These were
satisfied on the records OF Marion county
last Wednesday by the Pittsburg. Chicago.
Cincinnati * St Louis Railroad. this
branch Of the Pennsylvania having previ-
ously assumed the obligation. The property
involved includes union tracks on the south
and between Delaware and Pennsylvania
streets. where in times past the Sinker-
Davis Co.'S large mandatory stood. and
Cottren & Knight had a building OF the
same character. The land IS assessed at
$4,000 without improvements.
Xxx
There is given herewith a statement Of
the building in progress at this time, show
ing the number OF business blocks, flats,
factories and dwellings that are in actual
construction There is a possibility that
some deserving buildings or houses have
been overlooked, but the endeavOr has been
10 cover the entire city In a thorough man
ner, with the result that some interesting
data. demonstrating that Indianapolis is
doing an immense amount or building and
that a great sum or money is used, Is given.
xxx
A new fat and apartment building that
promises to be the equal Of any now ex-
listing in indianapolis will be erected by
Joseph A. Rink on the northeast corner Of
Illinois and Vermont streets. The plans
have been prepared for some time and
show a structure of seven stories and base
ment, with frontage on Vermont street
CT eighty feet and on Illinois street of
eighty-two feet. 1t will adjoin the Savoy,
the splendid building erected two years
ago, now the property Of Mr. Rink. II will
be absolutely freproof and built of stone
and brick The first two stories will be of
Indiana oolitic stone and the remaining
ones faced with buzz pressed brick max
ing an attractive and pleasing aspect. Each
floor will have one five-room fiat. one or
four rooms, one suite of apartments OF two
rooms and one of three rooms. Each OF
these will have bath and tile floors, with
all the appurtenances that go into modern
rooms OF this kind The basement will be
used for storage for the occupants and for
the lighting and heating plants. Passenger
elevator service will be installed near the
center of the building, operating from the
ground hallway, and service or freight
elevator will be run from the rear. free
from annoyance to the tenants, delivering
its freight TO the flats and apartments
RcfF fAFfcr h1
passageways There Is also system OF
Stairways, made wholly of iron. One OF
these is the main stairway, of great
breadth. for the use Of occupants and
guests. the other for the exclusive use OF
help and other purposes Each hall floor
VIII De iald NTH mar 5ne,e or 9 hI
and the cornices by stucco work of the
handsomest design The floors OF all rooms
viii be or hard wood, and the windows Will
be of plate glass, one notable feature being
that every fiat or apartment will have out
side light, supplying good view and venti-
lation. One OF the attractions on the in
side OF this modern structure will be a
court Of forty-five feet square, which will
have cement floor and fountain for the
and friends. The roof will be built for a
garden or other purpose that may be de-
cided upon after construction has been
completed. The entrance will be on the
point where the streets unite, and Will be
of stone ornamented in pleasing and at
tractive designs. A spacious hall will be-
side where tenants and visitors can rest
wait for their conveyanceS or street
cars without being compelled 10 stand on
the street or steps IN dlsagreeable or IN
element weather. All the modern conven-
fences for tenants are supplied. Electric
lights, steam heat, push bells from the
main hallway 10 each fiat or apartment.
closets in every room, refrigeratOrs. ranges,
butler and kitchen pantries, so that an
occupant win lack nothing for convenience
and comfort.
There are two bay windows on every
floor on each side-Illinois and Vermont
streets-giving an additional attractive ap-
pearance to the perspective. There are in
the building fourteen flats and fourteen
suites. as described in the early part OF this
article.
Mr.. Rink has not decided yet as to the
prices TO be charged for leases on the diff
ferent apartments. but a schedule will be
arranged in few days. Ii is the purpose
while giving to those who wish TO secure
quarters. a home with every convenience
and in a building free from all danger ike
fire, making them especially inviting. to
make the cost as reasonable as the large
expense will admit.
The site upon which this magnificent
building will stand IS that where the large
brick home OF 1. II Roll, one of the pio-
neers OF Indianapolis stood for many years
and which, a quarter OF century ago
was one OF the largest and most attractive
dwellings In the city. The cost of this struc-
ture has not yet been determined, although
estimated at $4,000. as Architect Moore
will not call for bids for several days. but
the demolition OF the building now on the
ground Will be begun this week and the
work OF construction Immediately after the
debris is removed.
The Bemis indianapolis Bag Company.
through Warren II. Simmons. the man
ager, has contracted for the construction
OF a massive five-story brick building
fronting on Barth avenue. south of the
Belt Railroad. and adjoining the factory
now owned and used by this company at
a cost OF $4,000. The structure Will occupy
$500 square feet. while the old building had
5000. The two upper stories will be used
for manufacturing paper. cloth. burlap and
Jute bags, and the first, second and third
for the engraving department. composing
room. where the typesetting for addresses
OF merchants 10 be printed on bags Is set
and for storage OF paper. inks and other
stock and the engines and boilers This
company AT present uses twenty-five
printing presses which indicates the mag
nitude OF their business The building
acjOins the old structure for length Of
twenty feet. on the front facing Barth
avenue. where offices will be located. then
Il runs IN curve for distance of $50
feet 10 the rear line. which measures 1874
feet. exclusive of court where the large
water tank Is installed
Architect Bates has prepared plans for
three two-storv frame buildings on Central
avenue. between Twenty hfth and Twenty
sixth streets. which viii be modern in every