The Indianapolis journal., 1903-10-04
REAL ESTATE NEWS

Before the end of the year the largest
real-estate transaction in indianapolis for
good many years will be closed. in the
purchase by the Indianapolis, Logansport
& Chicago Railroad Of $4,000 worth OF
property between Washington and Market
streets and Missouri street and Ernmerson
Place, for the site Of passenger and freight
stations, and additional property in that
vicinity for freight yards
/. N. Richie is handling the transaction
for the railroad. Options on a large num-
her Of the pieces Of property in the tract
have been secured. but the transaction is
not yet in such a condition that it can be
closed. AS the railroad is planning to be-
gin construction of its stations not many
months from now, it is expected that the
deal will be got through and the transfer
put ON record before Jan. l. This is the
general understanding in real-estate
circles. Mr.. Richie said yesterday after
noon that he was not in a position 10 an
nounce anything defnited about the trans
action
The tract to be purchased by the Indian
apolis, Logansport & Chicago Railroad has
frontage on Washington street OF 30
feet and extends from Missouri street to-
Emmerson Place the tract will have a
frontage OF 420 feet, extending clear back
to Market. The passenger station will
front on Washington street and the freight
station on Market street.
1t is the present plan of the railroad to
begin the erection OF the passenger station
about six months from now Mr. Richie
does not know how much money the COM
pany Is planning to put in the two stations,
but he says they are to be large build
ings and will cost good deal of money.
1t has been the general understanding for
some time among real estate men that the
Indianapolis, Logansport & Chicago Rail-
road was getting matters in shape to make
large real estate purchase near Washing
| ton and Missouri streets, but not until yes
terday was announcement made con-
| corning the extent of the pending transac-
| ton and the amount of money to be in
/ volved.
EASTMAN'S FLAT BUILDING.
| Walter H. Eastman will build a modern
| Pennsylvania and Sixteenth streets. 1t is
not known whether the building will be
erected this fall or In the spring. Mr.. East
man purchased the lot at the southwest
corner OF Pennsylvania and Sixteenth
streets last week from the Jerome Aller
| estate. through L. n. Richie. He paid 9,O5s
| Sdsh loi tlS pIVptEty. Inc ldle JtiOuie
Allen lived IN Greencastle.
| The fiat building to be erected at Penn.
sylvania and Sixteenth streets by Mr.. East
| man will be the only building of this kline
| in that vicinity. There are a few fla
buildings on the upper north side, but mos
| of them are within eight or ten blocks o
| the Circle. 1t is the prediction of certain
real estate dealers that a good many fla
| buildings will be located on the upper
| North Side within the next few years
DIR. Benjamin T. Dye has purchased from
| David M. Dye the property at the northwes
| corner of Capitol avenue and Twelfth
| street for $4,000. The transaction was han
died by the Indiana Trust. Company. The
| property is to be improved by DR.. Dye Il
| the extent of several thousand dollars, anC
| will be converted into resort for the treat
| ment of cancer.
Arthur Jordan last week purchased tn,
| residence property at 191 North Delawar,
street from Mrs. Eliza j. Knight for $ll,00O
| Mr. Jordan will deed the property To hi:
daughter, Mrs. o. B. lies. The transaction
| was handled by I. N. Ritchie.
| Charles w. Sedwick, who is In bushes!
| at the Union Stockyards, has purchased
| the residence property at 1137 North Merid
ian street from l. N Ritchie. Mr.. Sedwicl
| will occupy the residence.
| The Meridian Flats, Meridian and Michi
gan streets, have been purchased by VIII
! liam A. Holt, manager OF the Grand Hotel
| and will be converted into q modern resi-
dence hotel. Mr.. Holt Will add four stories
| to the building and remodel 1t in man,
| ways. When the building is opened as
hotel it will be eight stories HIGH accord
ing to, his present plans, and will contain
210 rooms. The Meridian Flats now contain
Les rooms.
The new hotel will probably be known a
| the Meridian. Mr.. Holt will continue hi
connection with the Grand Hotel