The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-01-04
FIRST BIG REALTY
DEAL OF 1907
w. H. Dickson invests $4,000
in East Second South Street
Property.
WILL ERECT BRICK BLOCK
A. FRED WEY MAKES LARGE
PROFIT IN THE TRANSACTION.

$4,000 deal i'm commercial real estate
half block from Main and Second South
streets. involving the transfer of "A tract
of business property 5S19x220 feet and the
immediate erection OF three-story press
ed brick block 130X5Sis feet. which wlz
consummated yesterday afternoon. starts
the Salt Lake realty market ON It's new
year.
w. II. Dickson of Salt Lake has pur-
chased from the Mutual Realty company
of this city. the property at the corner
Of Plum avenue and East Second South
streets, between Main and StaJe streets,
for $4,000 This property has a frontage
en- Plum avenue of 20 feet and a frontage
on East Second South street OF 3Sl4 feet.
Mr. Dickson has purchased from \.
Fred Wey and Mrs Lottie NJ Clasbey.
the property on East Second South PIX
1874 feet, Immediately east of the prop
erty purchased from the Mutual Really
company and which completes "A block Of
property with 5Sl2 feet frontage on East
SecOnd South street and 20 feet frontage
on Plum avenue. Mr.. Dickson paid S25.0l0
for the Wey-Clasbey property making a
total consideration OF $1,000
The block of property is improved at
present with three-stOry pressed brick
South and running 80 feet deep on Plum
avenue.
Will Erect Big Block.
Mr.. Dickson will proceed at once with
the erection OF an addition 10 this block.
to be three stories i'm height, 5Si2 feet
wide and running back the remaining 100
feet on Plum avenue. The new bocic
will be thoroughly modern and fire proof
and will be the first big step looking to-
wards the rehabilitation of Plum avenue
The deal is the most important of ths
closing weeks OF 1906 and is the first big
transaction of the new year. II is dOublv
important and significant in view of ths
+ location of the property within half 10
block Of the business center OF the city
! and in view of the fact that conditions
along Plum avenue at present. the street
/ being inha bited almost solely by Chinese.
are such that property in the vicinity Of
! fers Inducements for Investment 10 those
/ only who are most optimistic and conf
dent as to the future of Salt Lakes bust
! ness section and of the ultimate CONVEX
/ sion of Plum avenue and Commercial
street into thriving retail thoroughfares.
Shows His Confidence.
Mr.. Dickson is the Salt Lake attorney
who very recently sold a tract of prop
erty an entire block long and ten rods
wide. running from First West street to
! Second West street between Second AMI
Z Third South streets. TO The Browning
brothers OF Ogden for $1,000 payment "
which was made Wednesday TO Mr.. Dick
son and the deed to the BrOwnings placed
on record. Mr.. Dickson has put this $1,000
with an additional $4,000 back i'm Sale
Lake real estate and in addition thereto.
\ has planned 20 eXpend several thousand
dollars more i'm improvements.
! The deal speaks volumes for Mr. Dick
sons confidence i'm local commercial
property and for the stability OF the To-
cal realty market. i'm spite OF the wave
Of real estate speculation that has swept
The city since the Newhouse deal
4 Incidentally il may be mentioned that
( Mr.. Wey comes out Of yesterday trans
/ action several thousand dollars ahead orr
an investment made by him but few
! weeks ago Mr.. Wey purchased a one
+ half interest i'm the Clashey property sold
4 Mr. Dickson yesterday. Z, short time AGO
at very low figure and the sale Of the
lot for S25.000 to Mr.. Dickson gives him q
big profit
1t is understood the deal for the trans
. fer OF al II the above property to NIr.
I Dickson was made through the agency
Of KELSEY & Gillespie. though the mem
bers of the firm could not be reached last
night for notification of the statement.
Mr. Wev. however. said that Mr.. Gilespio
was the agent for the entire transaction.