The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1907-10-23
COST TO REACH $4,000
INCLUDING PRICE OF LOT
Initial Purpose to House First Ma
tional Bank, Which Was Deprived
of Its Permanent Home by Tcdd
Opera House Fire-Many Seek
Office and Store Rooms.

East Chicago. Ind. Oct. 2s.-Special-.
The dearth or store rooms In this city
since fire destroyed the Todd Opera
house block is SO great and the need
OF office rooms Is so imperative that
the business men OF East Chicago
headed by q. J. Bader. the president OF
the First National bank are discussing
the feasibility OF forming a stock com
pany TO build a 100000 building on one
Of the prominent corners OF the city.
Mr.. Bader has gone TO the extent
of having an architect draw plans for
such a building and has shown them
to several OF the business men whom
he thinks would be interested.
Mr.. Bader is interested for the reason
that since the fire he has been unable
to find suitable location for his bank.
He has had several offers from men
who said they would build a bank
building but none of the projects so far
have met with his approval
Many Would change Location.
In addition to Mr. Bader there are
several other business men who would
change their location If they could nnd
suitable quarters ard there are a dozen
or more professional men who would
immediately grasp an opportunity te=
date Office.
This suggested the idea to Mr.. Bader
.or building a business block that would
be a credit TO the city and also the
plan OF securing the cooperation OF
those who might be interested in Sc
| curing business locations as we'll as
those who are looking for an invest
ment.
The banker says the building would
cost in the neighborhood of 500. 900 and
the lot about $4,000 making the total
amount OF the investment 10000. He
says the bank Will subscribe 0,000
OF this amount and he thinks the other
$40. 600 can be raised among the public
spirited citizens of East Chicago.
Would Pay 10 Per Cent on Investment.
1t has been estimated that the build
ing could be relied upon to pay 10 per
cent on the investment and it has been
suggested that If a dentist or a doctor
care to put $1,000 to $4,000 in the pro-
ject he would not only have a con-
servatiye investment that would ap-
lpreciate in value the city
grows but which would partly or
wholly pay his Office rent.
The building according to the sketches
which are on display at the First Ma
tional bank show a structure two
stories in height and large enough to
cover four lots
On the main floor there would be
the bank and six other store rooms. On
the second floor there would be Office
rooms and a lodge room that could
be rented out TO one of the fraternal
orders in the city.
In the basement there is planned. a
barber shop. a billiard and pool room,
bowling alleys and several store rooms
Several locations have been talked
OF, among them the corner where the
Todd Opera house block stood. The
ruins OF this old building are looked
uron as disgrace TO the city and
every body IN town is anxious to see
some new building on this site. There
2 appears however. to be very little like
E lyhood that the owner and a prospective
r purchaser can agree on the price and
e It may be necessary to locate the build
2 ing elsewhere.