Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-04-29
TIMELY REAL ESTATE TALK
COINS Purchase on North Sixteenth the
Feature Of the Week.
HOW ORIGINAL INVESTMENT HAS INCREASED
Fifteen Hundred Times First Pur-
chase Price IL Given for Property
In the Last Transfer of
It's Title.

Speaking Of the sale OF the Parmalee
and Redick properties on North Sixteenth
street to Herman Cohn Of the Nebraska
Clothing company for $1S5,o00," said Alex
ander g. Charlton OF the McCague Invest
ment company, this marks a new era for
Sixteenth street, the Broadway of Omaha.
This property comprises the entire frontage
on the east side of Sixteenth street from
Capitol avenue to Davenport, being 2112O
square feet Upon the whole property
Mr.. Cohn contemplates the erection of sub
stantial improvements as soon as his plans
are materialized.
The Parmalee family came into possess
sion Of this property forty-four years ago,
or six years after the founding OF the city,
paying so for tho two lots. Presenting
that the income from the property has been
sufficient to pay for all buildings, taxes
and betterments. the land has increased
100 times in forty-fOur years. which reads
like romance. but II Is not an isolated
case-simpiy Omaha truth.
'An Parmalee and Mr.. Redick are
omaha-born boys. who have seen the de-
velopment and growth OF the city, and are
progressive young business men Mr.. Cohn
Is q keen observer Of the growth of cities,
who has been doing business In Omaha
for number Of years and knows what to
buy for investment. With the erection OF
this building. the Brandeis building. Hayden
Bros annex. the Hoagland, the Sunder-
land-Webster, the Wright building and
other contemplated improvements no street
in Omaha shows greater improvement.
other important sales on North Sixteenth
street during this month were the sale
Of the Bolln block and the Northwestern
hotel, both purchased for investment
| while a great amount of the property
on North Sixteenth street Is held strongly
by such holders as the Boston Ground Rent
Trust, the Ames estate. Brandeis & Sons,
Browns, Folsom, Hayden, Neville, the
| United States government, the Masonic
lodges. Balcombs. Visscher, Wright, Myers,
Callahan, Estabrooke and others, still
there are q few pieces which men OF
wisdom and cash viii look UP and purchase
as investments"
Though some Of the leases on Herman
| Cohn's new purchase on North Sixteenth
street have yet six months longer to run,
| Mr.. Cohn is beginning to consider the ma
| ture Of the improvements he will put on
| the property. A local architect is sketch
| ing plans for a four-story building, which
will cover the entire property. the ground
I moor to be used for stores and the upper
| floors for rooms and apartments. Mr.. Cohn
does not believe in speculation but in
permanent investment and Improvement.
| Strange as II may seem, real estate busl-
ness has been practically neglected during
the last three or four days for the mayor
] olty campaign. the majority OF the mem
bers Of the realty guild having held them
selves ready to sacrifice their business
in order TO got in some good work for Mr..
| Benson. who is one OF their number. They
feel that the election Of Mr.. Benson, who
Is a home and town builder. will do much
10 give the city a good reputation in the
state at large and they feel that their
| business, along with that OF others, will
be more fourishing II he IL successful
next Tuesday. The loan and rental BUSH
ness has received it's full share of attention.
| but as far as new deals are concerned they
have been allowed 70 languish for the
cause OF politics.
The Real Estate exchange has outdons
| itself in politics this spring. Acting on the
advice Of "Pa" Turkey, who always kicks"
when anything OF a political nature is
brought into the meetings, the exchange
has not gone into politics as a body But
that did not prevent the majority OF the
members from organizing to further the
| interests or Mr.. Benson Meetings were
held at the Commercial club Thursday,
! Friday and Saturday and plans for work
Saturday and Monday made. Saturday the
real estate men furnished twenty rigs and
| they were out in force bringing the voters
| to the registration booths. The realty
men were also responsible for 1000 Benson
tags. which are 50 noticeable on lapels all
| over the city.
| Other sales reported by Thomas Brennan
are: Two houses at 1142 and 11A South
Twenty-second street TO A. A Gibson for
| s.. 300; house and lot at 22O6 North Six
tenth street to T. c. Clancy for $500;
house and lot at 1911 South Fifteenth street
70 Joseph Novak for t1.10o
Many Of the men who sold their homes
near the Webster street depot 20 the North
western are meeting with much diniculty
in finding suitable new locations. Houses
for sale are not especially plentiful and
houses for rent are scarce, indeed. The
renters who win be left without homes
by the operations OF the railroad are placed
IN worse condition than those who owned
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