The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1904-11-06
Hotel Proprietor Buys the South
west Corner of Twelfth and
Washington Avenue.
OLIVE STREET LEASE.
Furniture House Secures In
creased Quarters Important
Changes in Tenancy of Lo-
Gust and Chestnut Street.

The increased interest in downtown
investment properties within the past two
weeks as the result of large sales closed
was given further impetus during the
week by the transfer from the Corner
Realty Company to Leo Moser of the
property ut the southwest corner of
Twelfth street and Washington avenue
The sale was made by the Mercantile
Trust Company, who lave within the last
fortnight sold for clients three other pieces
of hish-class investment property in the
same locality, being the Crane building
and the old Exposition power-house site
at the southeast corner of Thirteenth and
Locust streets and the Ozark building at
the northwest corner of Tenth and Pine
streets.
The property secured by Mr.. Moser is a
new modern eisht-story slow-combustion
building, having a frontage on Washing
ton avenue of IL feet and 8 inches and ex-
tending south on Twelfth street I50 feet
70 81 Charles street, making a frontage
OF virtually three streets. The building
Is equipped with three high-speed eleva-
tors. sprinkling plant and other facilities
OF a modern structure.
The building is occupied under a long
term lease by the Hanlon Millinery Com
pany at an annual rental of SIS. 500. The
price paid, for the property by Mr.. Moser
Is withheld. but is understood to have been
close to 10000. which would allow a fair
income on the above rental.
Mr.. Moser is at present owner of the
Moser Hotel. and the southeast corner of
twelfth and Chestnut streets. together
properties. He has been a heavy operator
in real estate for several years and by
good Judgment of values has added largely
to his wealth from this source.
Tho closing Of a Ion o. torn, Iaoca on tho
corner OF Twelfth and Olive streets to
May. Stern & Co. is expected to further
retail street. The lease dates from March
l. 1905, the Mammoth Hotel Company, the
present tenants. holding possession Until
January 1.
Fifty thousand dollars will be spent in
changes n alterations to the building.
May, Stern K Co. have recently completed
a ten-story building in Cincinnati, and
street nearly double their present capa-
city. is in line with their intention Of
making the st Loui house among the
largest in the country.
h lease was mad by the Rutledge &
fitzpatrick Realty Company for the es-
tate of Marie e Patterson. and is at a
rental close to $4,000 per annum The
Misses Wallace of Washington, d. c.,
fused an offer of $4,000. for the purchase
of the property 81. So s,5.
DOWNTOWN BUSINESS BOoMS.
The ]. Bolland JeweIry Company has
leased through the Mercantile Trust Com
pan the three-story fire-proof building,
No. 513 Locust street. which they will ec-
cupy after Ma! /, 1865. The lease is for a
term of fifteen years, and at a rental con-
siderably In advance of previous rates in
he district. The building is at present
occupied by the Lambert, Deacon Hull
Printing Company. who will vacate next
April.
One OF the more important leases Of the
week was upon the building at the north
east corner of Sixth and Chestnut streets
from the Daniel G.. Taylor estate to a
client of the Weisels-Gerhart Real Estate
Company. TIL lease is for a long term Of
years and on a basis of 3 per cent net on a
valuation of 500 600.
The property consists Of a substantial
three-story building arranged in stores on
the first floor and occupied above by the
Alma Hotel. covering ground fronting 42
feet on Sixth street and 60 feet On Chest
nut street. Plans to remodel the building
and increase the height two stories are
under consideration.
The building Is directly opposite the La
ciede Hotel and adioinS the new Garrick
Theater. to be opened soon. and has in
creased considerably in value lately as a
business corner.
The ground floor and basement of the
Houser building at the northwest corner
of Broadway and Chestnut street has been
leased for a term of ten years by Simon
G. Louis Rothgiesser, Broadway mer-