The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-08-03

The site upon which the Century build
Ing stands. on Olive, Ninth and Locust
streets, was sold yesterday for $SI5,GV0.
Taking the Ninth street frontage as a
basis. the value is shown to be about $2,S3i
a front foot.
The ground was purchased by the Liggett
estate, Claude Fitzpatrick and John FNow-
Ter. trustees, from the Century Fee Realty
Company. through the Mercantile Trust
Company. The Century building corpora
ton pays q ground rental of $685. 900 a year,
thus giving the owners of the land 4 per
cent on the investment.
1.-THE price paid indicates a decided in
crease in the value Of business properly in
ST. Louis" said Lorenzo Z. Anderson, vice
president of the Mercantile Trust CompaaT.
Time was when investors in st. Louis
their holdings, but now this interest IL
deemed sufficient, especially when the fact
il considered that the investment is abso-
ldtely safe, and in all probability the value
of the ground will steadily advance.
.The property includes the entire hall
dock. being bounded on the west by a
lz1blic alley dividing the block. The lot
fonts 22S feet on Ninth street. by Il depth
ofs5B feet on both Locust and Olive streets.
AHsmall lot at the southwest corner pt
Ninth and Locust streets. l9xI5, is not sold
in fee, but n ninety-nine-year leasehold on
this tract is included in the sale.
1t will be remembered that the Mercan-
tue Trust company reported the sale of this
pfbpeTty TO a corporation known as the
CENTURY Fee Realty Company less than a
gEti oSC- AZ IhANAdsNAS AloNS IA AHC AAiNdlAA
tfhe enjoyed a satisfactory income from the
property, and the Liggett estate is believed
TO have secured one of the safest and most
satisfactory investments to be had in st.
Louis. Certainly no greater Endorsement
or St Louis real estate investment could
be had. it is said, than the fact that such
business men and fnanciers as the trustees
of this large estate should purchase ground
to the extent of nearly a million dollars on
q +per-cent basis.
The income of $4,000 a year is considered
perfectly safe, as the Century building is
one of the finest Office structures in the
West, and is In a location that is becoming
more central and more valuable each year.
In making the sale the Rutledge & Xiii
patrick Realty Company was associated
with the Mercantile Trust Company.
Week of Big Realty Deals.
Realty transactions on an exceptionally
heavy scale made the local market last
week the liveliest ever known in July.
the Carleton building. northeast corner of
Sixth and Olive streets, which the Ger
mania Trust Company purchased for SSI5,-
oQ. TIL building pays a gross rent of So
CO., out of which the owner of the ground is
paid $4,000 annually. Joseph P. Whyte ana
John c. Hall made the sale.
= A lease of considerable Importance, since
II involves the erection of a handsome
eight-story structure. was made by McNair,
iriE will be constructed on the northeast
ckrner of Twelfth street and washington
afenue; on q lot 155xiS5 feet. and is to cost
Ckfleton Dry Goods Company.
Vhe Mercantile Trust Company completed
the sale of two blocks in North st. Louis
from the A. Leschen & Sons Rope Company
TO the Rock Island road, for $1O0. 900. The
property adjoins the tract recently acquired
b4 the Rock Island.
u is announced that by reason of this
sue the Leschen Company will soon pur-
Chase a large lot and erect a building for
manufacturing purposes.
On Overland avenue, near the proposed
Edrthern entrance Of the Worlds Fair.
the Fair Gate Realty Company, composed
OF ~well-known st. Louis promoters, pur-
CHASED about 400 feet of ground upon which
exposition hotels will be erected. Property
f1 this locality has almost doubled in
vtfue since the announcement was made
TRAIT Oakland avenue would be opened and
RECONSTRUCTED by the city. The Leon L. Hull
Real Estate Company has other big sales
pSpding for property on the southern border
OF Forest Park.
q. r. Bissen & Co. and the Holbrook-
Btackwelder Company sold 400 feet on De
GSyervtlle avenue, near the east line CT
DR Baliviere avenue, to a syndicate Cor
S4kD00. This property will be utilized for
WEprld's Fair improvements.
IN connection with the Fair, the fact that
Fl p. v. Ritter of the Nicholls-Ritter Re-
aNy Company succeeded in settling the
TNsson Tract controversy, and turning the
prpperty over to the Exposition manage
mtnt for a period of two and a half years
fdf $1,000, was regarded as one of the most
noteworthy achievements of the week.