Evening star. [volume] (Washington, D.C.) 1854-1972, 1908-02-03
PRICES ARE CLIMBING
Government Should Hasten
Purchase Of Building Sites.
HOLDINGS NEAR CAPITOL
Assessed Values and improvements
in Square SIC.
FACTS FAVOR HEPBURN BILL
Arguments in Its Behalf Not Con-
fined to Showing Made rs to
Property Nearer the
Treasury.
FACTS FAVOR HEPBURN BILL

| Those who favor the purchase by the
government of Pennsylvania avenue prop
erty for sites for public buildings say that
| one need not look alone to the squares
near 18th street for evidence Of the I'M
| wisdom of delay in securing the land en-
| braced in the Hepburn bill. Getting
closer to the great white dome Of the
| Capitol. square $40 presents conspicuous
example OF the effect year or two may
have in increasing the value of property
in that district.
This square contains To-, SO square feet
of ground. which is assessed at $56.l0S.
The improvements are assessed at 72,90O.
This Is an average Of "A cents foot for
the ground alone, or Of 1925 foot for
both ground and improvements. Assum-
ing these values to be two-thirds of the
real value of the property. the ground
alone is worth $S4,1o9 or about g. cents
foot, and with the improvements, which
would be worth $1a3. 500. would be valued
at about 81. 50 foot. Except for the Bar
tholdt apartment house, the property OF
the Boston Baking Company and the
| Israel NJ. E. (colored) Church, the i'm
provements are scarcely worth consider
ing, being for the most part what one OF
their owners has been pleased to term
"a little bit of wood and whitewash that
brings excellent returns in the way OF
rent
Awaiting Developments.
Judged by the assessment basis. the
apartment house, without regard to the
ground upon which it stands. Is worth
from 10000 to $4,000: the property Of the
baking company SIS, 1920. including the
ground, and the church $52.312.0O. 1t Is
said that the church property was onered
L. $hvno WOO 70 q III
Its present price is being withheld at this
time awaiting developments"
The baking company estimates its prop.
erty, which contains 46,002 square feet OF
ground. to be worth half miiiion a eoi-
lars, or at the rate Of about $iOS1
square foot. It's assessed value, TOT the
ground alone, is $26.075, or about 50 cents
a foot. or about Sc cents foot counting
both ground and Improvements. Its real
value. if the assessment were made at
two-thirds thereof would be s39, 1880. OF
So cents a foot for the ground alone, OF.
as already stated. $oS.3625O. or about
81. % a foot. for both ground and improve.
ments 1t is doubtless true. however, tna1
this nroperty has some additional and Pc
culiaI value to the proprietors. because u
offers a large ground space and is es-
pecialIy adapted to the business which Is
conducted upon It. 90.
square feet, assessed at $4,S7e. Or about
5SIa cents a foot for the ground alone
and 1880 for the improvements thereon
"a few small brick dweilinEO. which
would make both ground and improve
ments. estimated upon the assessment
plan Of valuation. worth $l016 or about
81 90 a foot, asks $4,000 for his property
provided it is taken quickly. This val-
uation would bring 1t up to little more
than s. foot for both ground and I'M
provements-
Still another owner. whose lot con-
tains about e,l00 feet OF ground. as
sessed at 1885. or IS cents foot for
ground alone, and $4,000 for improvements
"a substantial two-story brick dwelling).
at the rate of about $7.l4 foot.
Some Former Sales.
This square is located on list street
west between Maryland avenue and B
street south. and extends from LIST street
to I'd street west. few years ago there
was little or no demand for the ground In
this square, and it IL said that sales were
often made at a rate much less than u
a foot.
1t is claimed that except for its inn
provement in the location Of the baking
plant and the apartment house In ques-
ton nothing has occurred particularly to
enhance the value Of the ground. Each
natural additions to the plant Of the bak-
ing company that increasing business will
demand will. 1t Is said, send the value OF
this property higher each year.
The Assessors Estimate.
The following table from the tax as
SCISSORS books shows the lots. the square
feet contained In them, and the assessed
value Of both ground and improvements: