Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-04-27
CURRENT LAND VALUES
Course of Prices in the Business
Section.
HIGHEST OF FIGURES PAID
Expansion of the Trade Locality in
Progress.
|G STREET CORNER PROPERTIES
Apparent Trend and Tendency of the
Development and Probable
Course in Future.

The active market for property in the
business section of the city, to speak nov
of only that phase OF the general realty
situation as well as the prices which are
quoted in connection with such transac-
tons. either reported to be in the colisI
of negotiation or actually completed rep
resent conditions that are of much inte.-
est. During the past week the statement
was made that a consideration was beng
given to the buying of a corner property
in what is known as the business So
ton or the city, or rather in one part Of II.
which would represent an expenditure for
the ground alone of nearly half a million
dollars.
1t WIN be recognized that such figures
show values which indicate that property
in the business portion OF the city has An
Importance which possibly might not hs
expected in the case of a city where, as It
is generally thought the business or COM
mercial interests are not large. In COM
parison with other places of greater pre-
tensions to large volume of local bus ness
this city In point of property values in the
business localities has a position which
no doubt surprises great many people.
Highest Price Paid
In that connection it would prove profit
able to note some of the recent prices paid
or reported to have been paid for prop
erty of the character described The most
costly piece of property in this city, or At
least the one which Is credited with th,
highest per foot price, is that at the north
east corner of 14th and f streets Last
spring it changed hands and the price said
to have been paid amounted 10 SIG per
square foot. The ground has a frontage
on F street of nearly twenty-nine feet, ami
on 18th street of nearly eghty-six fee.
and contains 2,4S1 square feet.
At that time last year a good many
transactions in property of this kind were
closed as then II was all the deals in the
vicinity of 18th and II streets were COM
pleted. The property at the northeast
corner of Pennsylvania avenue and ian
street was sold for about $40 per square
foot. The ground has frontage OF 81 f".t
on the avenue and 100 feet on l4tn
street, and contains 1900 square feet
In 18th and II Streets Locality.
The transactions during this period IN
the 18th and II streets locality included the
sale Of the southwest corner of 18th and
IL streets. where the new home of the
Union Trust Company is being erected
The ground has "A frontage on n street ~
80 feet and OF lGt feet on 18th street and
contains nearly 12.OGV square feet Tn.
price paid was S3l5,VOO, which Is at tna
rate of about $2G per square foot
On the opposite side of 18th street where
the Swartzell, Rheem and lGensey building
and the Hibbs building are being erected
the site was acquired at the time. i'm aues-
ton and for the 10 feet front and the total
area of $50 square feet SD per square foot
was paid. The % feet front on the west
side of 10Th street adjoining ON the south
the property of the Union Trust Company
was bought at the same time by individuals
and for the 100 square feet Sl75oou was
paid which is at the rate of about ST. per
square foot
For Corner and Other Property.
During the present month sale was re-
ported of nearly 90 feet front adjoining On
the south the property mentioned and It
was stated for this area of $50 square feet
between So and S26 per square foot was
paid.
During the past year some of the prices
paid for property In other sections Of tho
business district follows: on the north SIDE
foot; at the northwest corner of 18th and
streets. between ST and SIS per square
foot; at the northwest corner of 13h ana
IL streets for ground having the dimsn-
sions of % feet by 104 feet, SIlJO per
square foot.
Some Street Corners.
In the fall of 1906 the property at the
southwest corner of 18th and G streets
changed hands and the consideration m n
toned in connection with the TRANSACTION
was $4,000. The ground fronts sixty feet
on 18th street and fifty-five on q street.
and contains 1929 square feet, SO that the
price per square foot was $23
The opposite corner, namely, the prop
erty at the northwest corner of 18Th and q
streets, last February sold for $4,000.
or S2I per square foot. The dimensions OF
the ground I0x60 feet
About the same time the southwest cor
ner of 18th and streets was sold and tho
consideration mentioned was S4SOOD The
lot Is 2oXo6 feet and the price per square
foot 500.
An Expansion in Business.
There have been other transactions in
what Is generally termed the business se.-
ton of the city, and some of those men
toned, took place in a locality that has
only within comparatively recent period
been looked upon as a strictly business
locality. Reference is had more especial
ly to the section along 10Th street NORTH
or pennsylvania avenue, and continu ny
along II street. The movement up 1ita
street, north of G street, and thence east
along New York avenue for at least one
block, took place shortly before the fail OF
last year, and when the movement began
up 10Th street, along III street and widening
out to the east, it was looked upon as m
entirely logical outcome OF the situation
and an evidence of the growth of the
business of the city.
In fact the activity in property of the
sort mentioned to a certain extent may be
looked upon as an accompaniment of the
expansion of the business section of the
city. Values in the other sections devoted
of the business section, have not only
manned firm, but have stiffened, show ne
that II has not been a moving westward
as much as an enlargement of the area de-