Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-03-24
TIMELY REAL ESTATE TALK
Vacant Inside Property Goes on Market ai
Bsmunerstive Tigures
APARTMENT HOUSE era OAwEs IN OMAHA
RoOd's Venture on west Farnam
street Believed 60 he the begin
ming OF Extensive Opera
lions In This Lins.

An interesting development IN the pres.
ent req! estate market Is that Of the sale
Of many large tracts OF vacant property
situated near the center Of the city which
have been held for many years by the
b agents OF various estates and others The
cause IL assigned to the present high prices
prevailing for choice inside property and
the fear that the conditions may change
within short time before the immense
holdings can be disposed OF advantage
ously at the present range Of prices. rs
tates which have been held unimproved for
years are now being placed on the mar
ket ana exploited either ~ business prop
critics or as choice residence additions
Chief among the latter was the opening Of
tho large estate Of the late Herman
Kountze last week for a new residence ad-
dltion, to be known as Forest Hill Park
which Is now being exploited by the d. ".
Sholes company with great success.
1t is also interesting to note the many
vacant lots IN the very heart Of the bust
ness district OF the city which have been
sold within the last SIX months for the
purpose Of their Improvement by the cree
tion OF subgtRntial buildings. Such lots
have been held patiently for at least thirty
years In some instances, and the wisdom
OF such action 10 not patent by the aiacrity
with which they have been snapped up, TO
tho material profit Of the owners. In some
cases, however. such property was bought
in the old boom" days and has been held
at a loss until the present prosperous
realty conditions has enabled the holders
to dispose OF their holdings. either with a
profit or without material loss.
The most important deal recorded durins
the last week from every viewpoint was
that Of fourteen lots on the east side OF
Nineteenth street between Mason and
Pierce streets to the Chicago Great West
ern for use by the ziegier Coal company OF
Ziegler, ILL.,, Of which Joseph Letter of Chi
cago is manager. Negotiations for this
property have been under way for som,
time, but the deal met with considerable,
opposition on the part OF many Of tn,
home owners IN the vicinity and Their,
sim remains one lot IN the tract to be &C
quired. The fourteen lots have a frontaE,
Of 100 feet on Nineteenth street and ar,
occupied by small houses and one store
The houses will be removed and II is con
sidered probable that immense coal yard
will be established by the ziegier com
pany, which thus obtains its first foothol,
for business in this section. Traekag,
facilities for the new coal yards will b.
most convenient, as the Great Western Will
extend its tracks in front Of the new trac
and connect with the present freight depo
at Leavenworth street, providing the al,
Of the city council can be secured 20 clos
Nineteenth street to trafflo. The lots nc
CURED occupy the whole block between
Mason and Pierce streets and form tn
last part OF a pocket" for which tn
Great Western has been working for som
time. The railroad holdings in that viclnit
now extend around nearly four entir
blocks. with the western boundary on Nine
teenth street.
In addition to the establishment Of tn
large coal yards the sale will work TO tn
7 advantage Of Omaha by placing the severs
home owners. whose properties were bough
for cash, in the market for new homes
and several are now seeking investmer
along that line with the funds secured b
the sale Of their homes to the Great West
ern.
With the erection OF the proposed S125,O
apartment house OF seven stories for e.
Rood OF Benson at the northwest corner
Thirty-eighth and Farman streets, fc