The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1906-08-11

contemplated extensive shop con-
struction in the territory east and
north of the present shop site, land
values in that neighborhood have ad-
vanced in an extraordinary rate
Land that a year ago could be had
at from $3.50 and $500 per acre and
! upwards is now bringing $500 per
acre and upwards, with but very lit
tie and that of not very desirable
character selling at that figure.
Recently an 18-acre tract lying to
the east of the shop site, and in an
accessible location sold at approx
mately 1915 per acre. while land de-
sired for the additional shop facili-
ties by the railroad company is said to
have brought as high as $1,000 per
acre.
There are still opportunities to pur-
chase vacant tracts of land and plat
it at q profit Of perhaps double the
original investment in retailing the
lots.
Building lots in the vicinity of the
new shops which went begging at
from $50 to SIS and upwards per lot
can hardly be secured now at less than
$50 and upwards In fact many lots
in Oakland are now selling at 5000 and
$3.50 is asked for corner lots
Investors who buy land in tracts at
this time for the purpose of retailing It
later to the men who Will add to To-
peka's population and work in the
proposed new shops, can hardly hope
to experience a very large movement
IN the lots for / 8 months.
Probably $50 houses will have to be
moved to make room for the proposed
new shops This moving will doubt
less have to be done yet this fall, and
will require that many lots be used IN
making locations for the new homes OF
the people who have had to vacate
their old ones in the onward march Of
Bids will be asked for this week. 1t
is understood, for at least portion OF
the proposed new shops. and when
/ the contracts are let, construction
work will follow as rapidly as possible
This will furnish employment for
many Workmen and laborers, both
/ skilled and unslxilled. These laborers
must have places to live and the de-
| nand for rental properties VIII tnefe-
fore be brisk.
It will then be probably many
months, or at least Is months from
this date before the first Of the pro-
posed new shops are competed and
J equipped and manned by their regular
complement of workmen. After that
it may be another year, or possibly two
years before all of the shop extensions
already planned for are fully installed
and manned
men will be regularly employed in the
new shops by a year and half from
this date, and very likely more Will be
added from time to time during the
following two years to make fully
1000 new employees in addition to the
1000 already employed in the local
shops.
Consequently real estate transac-
tons in this district viii be spread out
over the next four or five years to
come.
Dealers say that Judging from pres
ent conditions the local market is in
the healthiest condition It has been for
a long time.
Building isn't restricted to the shor
district by any means. In fact but
very little new building is going on in
this district at the present time. al
though transfers of property are fire.
Quent. Most OF the new building is on
the west side, and that principally il
the district west of Harrison street
and south of Tenth avenue. and ex-
tending as far as the subdivisions wesi
of Washburn college.
Property in all sections of the city
is holding up in price. and rental prop