Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-14
NO MARKED BOOM FEATURES
Improvements That Have Been Pro-
jected and Put Under Way.
NEED FOR BUSINESS PROPERTY
Ready Sales Have Done Much to Ad-
vance Values-No Indication
of Change.

Tile chief Characteristic of real estate in
the downtown business section of the
city during the past year is the increased
stability that has been given TO prices.
There have been no marked boom features
to affect that section of the city, but the
improvements that have been projected and
put under way have been of such a sub
stautial nature as to tend to fix for all
time the business center of the city within
the limits that are generally known lie
downtown section.
From Pennsylvania venue TO II street
and from 18th to eth street the constant
demand for property for business purposes
mas been such as To make it easy to ne
eotiate sales at prices that show no falling
off from records of the past. \ year ago
The purchase Of H. o0 feet Of ground a the
southwest corner OF 10th and IL streets for
500 op0 or for more than ST per square
iooJ, marked the record price in that cX-
IRENE section Of the business portion of the
city. Now the monumental and disnitied
home of the Union Trust Company has
rc"u reared on that site. while just across
The street the Hibbs building has gone up,
making another beautiful addition to the
handsome business structures of the city
For Purposes of Improvement.
Throughout the section it has been noted
hy real estate men that the purchases dur
ing the year have generally been for pur-
poses OF Improvement and while they have
not been unusually frequent no one has
found it necessary TO put UP his property
and 10 accept lower prices than in the past
These ready sales have done much to ad-
vance the downtown property in the esti-
nation of investors, ana the feeling of Sc
'urity they have had has been further in
creased by the stock market panic. which
has affected so many other forms of in
Nestment. While the prices of the most
approved stocks have been affected in the
general furry that has gone through Wall
street. it is not possible to quote a single
instance of a sacrifice sale in the down
town section, because even the uncertainty
in stock values makes more desirable sub
Stdntial investments in improved real es-
tate This is true to such a large extent
that during the past few months many
ing the attention of their patrons to the
stability of realty compared with that of
Corporate investments such as are gambled
In in Wall street. There has been no diff
cuIty in securing desirable loans on this
class of business property at favorab BILE
rates Of interest and with the usual margins
;hLt are demanded ordinarily.
Tn, downtown section is also being given
additional stability by the carrying out of
Il public policy for Improvement both in
the construction of buildings for the ma
tluUal government and the municipality.
THE magnifl, ent new building for the
Agricultural Department lying to the south
81 this section has been nearly completed,
aud the equally monumental structure
along u street and within the Mall. to be
used as an exhibition hall for the National
Museum, is also far advanced. The mu-
niCipal building on the south side of the
avenue between 1872 and IA streets has