Evening star. [volume] (Washington, D.C.) 1854-1972, 1906-03-31


years one OF the most valuable business
locations in the city, and doubt IL the
books of the tax collector, could be ex-
amined for number of years past 1t will
be found that such estimate OF that
particular piece of property is by no means
recent one
There is nothing out of the way in the
immediate locality sharing in some degree
at least in the market value of such a
neighbor, and therefore the scale of prices
on 18th street which have ranged In the
recent sales all the way from 500 to ST
per square foot, is not surprising. In
the case of the property on the west side
that of the normal lot and in consequence
that makes the per foot value greater,
adding something like 80 per cent.
A Restricted Section.
In other words, when 500 per foot is
paid for lot which has depth of 145
feet the same total would make per foot
value on the basis of a depth of normal
lotz-namely. 100 feet-about. $33 per square
foot. This latter price Is about what is
asked for some good corners in the busy
retail districts, and some students of realty
values are inclined to look upon some of
the recent prices as rather high. 1t Is
question whether such critics take into
account the restricted area of the block
18th street having, as 1t Is stated, only
eight distinct pieces of property.
This latter consideration, OF course, has
an influence on property values, and also
will affect the uses TO which property can
be put. 1t is believed that buildings IN
that locality can be used throughout while
in other business sections the profitable
portion of a structure is limited practically
to the first floor.
Conditions of Business.
There are, of course, many cases where
the volume of the business IS such as to
make use of good deal of space, but IN
the bulk of instances in the retail district
separate business establishments are not
OF sufficient size to utilize more than the
first story, and the upper floors are left
vacant or leased very cheaply.
Such a condition affects the revenue pro-
ducing power of the property, and, of
course, its market value. 1t is proposed
In at least two instances In the recent
changes on 18th street that the new owners
viii. In addition to providing space for
their business, furnish in the upper floors
office rooms. which are to be supplied with
elevator and other service. 1t is recog-
niZed, however. that there is some limit
to the demand for Offices, and unless an
expansion in the extent of the individual
business takes place, so that additional
space is needed II seems reasonable to
suppose that market values of the prop
erty will be limited by that condition. just
as has been the case In other sections of
the city.
Transactions In Takoma.
The Collins Guerry Company, which is
operatin extensively at -Takoma Park as
well as in the city. reports the sale of sew
eral houses IN old Takoma and some lots
in north Takoma. and that other sales have
been made by different owners and agents.
Mr.. Query of that company says 1T is
impossible to anything like meet the con-
slant demands Of applicants to purchase
and rent. | believe a hundred suitable
houses in this suburb could be promptly
rented If they could be procured
The suburban spring fever has developed
unusually early this year. which is doubt
less in part due to the unusual demand for
real estate everywhere in the District and
in part TO the growing tendency in all cities
to move to the suburbs. The development
of the trolley system now enables a person
to reside from five TO ten miles from his
place of business and still be as near to
his office in point of time as he was a few
years ago. though actually residing only a
few blocks away, and this, of course is
mainly responsible for the growth of. the
suburbs, and the further development of
railroad facilities must in time produce in
general greatly changed and bettered
condition of life in large cities"
Delay of Spring.
Owing TO the peculiar change in the
usual rotation of the seasons, winter
weather has been prevailing at a time
when normally there are suggestions of
or actual spring In the air The coming
of the spring season in the real estate
market has in consequence been some
what delayed. and its appearance has only
been deferred. II is bound to come for
1t seems that it is one of the natural i'm
pulses OF the average human being TO
want to get out into the country when the
grip of winter begins TO be loosened
At any rate there are many people at
this time OF the year who looking about
for places in the country to live Some
of them want to buy. Others are merely
a TEMPORARY
the motive the real estate offices find that
such inquiries arrive with much the same
certainty as the arrival of the robins.
Inquiry for Country Property.
The belated season, however, this year
has checked the maturing of the spring
movement. and at the same time has pre-
vented much being done in anticipation of
this Inquiry for country property. There
Is grading that cannot be done while the
ground is saturated with moisture, and
walks to be laid and other work of that
sort There is a good deal planned this
year in the way of developing country
property. as has been stated from time to-
time In this column. and no doubt as one
result there Will be a considerable addition
10 the number of houses in the suburbs and
also In the number of residents.
Two practically new sections are TO be
opened up, one being the region on the
other side of the Potomac river, along the
route of the new trolley line and the other
along 18th street extended along which
also will be continued the city line OF cars.
There are other subdivisions of land In and
out of the District, so that the entire area
of additions to the building lots will amount
TO good deal.
Carnegie Institution Building.
Plans for the geo-physcal laboratory.
which is to be built for the use of the Car
jS--- --------=-----------------,l