Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1906-03-18
BIG DEALS IN REAL ESTATE
Predictions Made Last Fall Are Already
Being More Than Verified.
LARGE PER CENT OF CASH DEALS NOTED
Majority OF the big sales Are for the
Use of Purchasers aud several
New warehouses Are 20
he the Result.

Predictions Of local real estate men last
fall that the year 1906 was to be lively
one In real estate circles are being con-
armed for the early season by current
sales of property. For two or three weeks
business has been getting better day by
day, and the last week opened up with
decided activity.
Early in the week came the announce
ment that the Northwestern was buying
four blocks near the Webster street sta
ton for an extension OF trackage ground
and site for a new freight depot, involving
about t450OOo in real estate and making
the largest deal OF its kind since the ground
was bought for the Great Western ter
minals. A part OF the property, in the two
blocks between Davenport and Cass streets
and between Thirteenth and Fourteenth,
and belonging to ]. A. Creighton, the
Creighton estate, the schlitz Brewing COM
pany and George Warren Smith, is yet TO
be secured. though the real estate dealers
concerned expect the whole deal will be
cleared up this week.
Not less in interest for the reason that
1t showed the increase in values of prop
erty in the West Farnam business district,
was the sale Of the First Christian church
property at Nineteenth and Farnam streets.
Three years ago, strongly urged by Rev.
Harry Hill, then pastor, the church bought
the lot for $4,000 II was sold to syndi-
cate, the names of whose members are not
known, for $4,000 leaving $4,000 for the
church after the payment Of the $500 debt,
$40 900 for a new site at Twenty and
Harvey streets. and 5000 in commissions.
Ground for warehouses.
Other transactions are important because
of the building operations they portend.
Miller Stewart & Beaten bought forty
four feet on Farnam street opposite the
Union Pacific headquarters, adjoining on
the west the firms purchase OF forty-four
feet last fall. Mr.. Beaton has announced
that the firm will build on this ground
warehouse SSx1S2 feet. Saturday Francis
A. Brogan bought for eastern men two
sixty-six-foot lots at the southwest corner
of Eighth and Leavenworth streets and
announced that a warehouse would be
erected to cover the whole purchase. Mr..
Brogan refused to name the real buyers,
and as the property is in the implement
district, tn Jobbers in that line are won
dering II the new warehouse is to be for
| implements. AS far as they know, the
~ ok Island Pillow company is the only firm
in need Of new quarters, and Manager
sherdeman of this concern denies that his
company is the purchaser.
The Omaha Loan and Building associa-
ton. which has always done business In
rented quarters. now has a home Of it's
own. the Douglas block. at the southeast
corner Of Sixteenth and Dodge streets. The
association will make its headquarters on
the first floor. remodeling the old bank room
there, which will make very pleasant
home. The upper floors will be rented, as
at present. for ONCE purposes.
Speaking Of this purchase, the real es-
tate men note that the ground on which
the building stands sold twenty-five years
ago for $500. The association. though it
bought the building, paying $4,000, has only
leased the ground for twenty-five years,
having the option of renewing the lease
under a re-valuation at the end of that
time. The gross rental for the coming
twenty-five years is about ten times the
amount Of the cost Of the ground twenty
ivo years ago.