Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1907-01-13
TIMELY REAL ESTATE TALK
Omaha Capitalists Might Engsndsr Boom
by Asking Lower Interest
NEBRASKA FARM LAND is ATTRACTIVE
some Recent Deals Indicate wnu=x-
ness Of Outsiders TO Invest I'm
This state ut Good
Round Figures.

IF local capitalists would loosen up on
their money and be content TO make per
cent net on II. l believe there would be more
activity this year than last Ia the erection
OF warehouses, at least as much said a
Jubber the other day. mot only do / be-
Hove many OF the jobbers now here would
erect new homes, but other jobbing houses
would come If they could get places to do
business. There would undoubtedly be- an
other shoe house. another drug house and
another dry goods company here before
long.
zone difficulty in the way Of building
IS that the men with the money want
too big an interest on their money. Six o.
Z per cent net TO the builder. which means
or to the jobber. when taxes and other
Fixed expenses are taken into consideration
is too much to contract for on long time
Lease II is not so bad just now, but (;
might be exorbitant under condition
a few years from now. The owners use.
TO be content with lease contract whic
allowed them 8 per cent on their money
Mrs. Nash gets per cent net on the ware
houses she is erecting for NJ. F. Smith &
Co. and am told she would not agree TO
put up another building without larger
profit. They want about per cent net now
money. There is not enough money in the
country for all the business that needs tt
Nebraska farm land continues to advance
and Douglas county dirt is right at the top.
Joseph Connor, retired elevator man, sold
his 4OO-acre farm six and one-half miles
west OF town last week for $4,000, or 1925
an acre, and now he is complaining that
he might have had more. Many residents
Of the city remember the time when that
land was sold at SO an acre.
II iB significant that the purchase was
made by a capitalist of another state He
recognized the value of farm property near
Omaha and decided to get hold OF a good
farm before It went even higher than $125.
OF course the farm is we'll improved. or
II would not have brought such a good
price.
A hotel for colored people is to be estab-
lished in a four-story building on Nine
teenth street between Nicholas and Paul
streets, which has just changed hands
DR.. j. II. Hutton has acquired the prop
erty consisting of two lots and the build
ing, from s. A. Megeath and Harry Marc
WITT. and will use It for hotel purposes
The property brought 5000. In 1901 It was
sold under mortgage foreclosure for 5000
The building alone cost $4,000 eighteen
years ago, but the financial depression of
the SOs made It losing investment for
the builder.
February / will see the beginning OF the
demolition OF the buildings on the east
side of Sixteenth street between Capitol
avenue and Davenport street, where Her
man Cohn will erect building the whole
length of the block as soon as the Site Is
cleared. All leases will expire or bo-
fore February 1. The buildings are all
small. some of them frame structures, and
they can be removed quickly. Specifca-
tions, which call for the removal OF all
wreckage by March 1, have been issued
20 contractors. Construction on the new
building will be started Immediately after
March /.
Van A. Writ has bought from f. d. Wead
a house and lot at 415S Cass street.
+. w. Chapman has bought from z. G..
Rood two acres just south of the Country
club and will erect house on the land.
The Waterloo Creamery company ex-
poets to close a deal in a few days for the
erection of new creamery building on
Jackson street just west of Sixteenth. The
building planned Is one story I'm height. is
G6x1S2 feet, and will cost something over
$4,000. The creamery company proposes
10 lease the building for twenty years.
William McCune, western representative
of the Buffalo Bill show, has made several
purchases OF Omaha property as invest