Omaha daily bee., 1908-06-21

same lot for s55.oco. and Ct is now one Of
the two lots on which the Hotel Loyal
stands. at sixteenth and Capitol avenue.
Examples may be multiplied almost in
definitely Of men who have held on and
found themselves rich. In 1889 the residence
OF John l.. Redick stood on the present site
Of the Henshaw hotel and 81 was estimated
10 be worth about No.00n. To-day 1t is worth
5000 a font foot. or about $4,000. In 1919
Charles Bolhach bought the southeast cor
ner Of Sixteenth ana Harvey streets for a
residence. paying $ 900 or $4,000 for IL. In
1909 he sold il for $4,000 and had he held it
until the present time he might have quad
rupled this amount.
In 1881. when John L. McCague first
started in the real estate business. he tried
to sell the lot on which the Bee buildins
now stands for $500. No one would take
it at that price, though It was subsequently,
bought by Mr.. Rosewater because it ad-
joined his other property.
The King Midas touch has enriched the
property still further out on Farnam street.
The northwest corner of Twenty-fourth and
Farnam was bought in 1852 by Senator John
NJ. Thurston for a paltry $1,000. Three
years ago the HamRton Bros. bought 1t for
apartment house purposes for $4,000, an in
crease of almost $1,000 a year. The north
east corner Of the same intersection was
sold in 1852 for $1,000. Today it is worth
$4,000.
Speaking of some of those who had op-
portunities without the foresight to grasp
them. John L. McCague, who began in the
real estate business in Omaha over thirty
years ago, tells one on himself. Early in
the SOS Mr.. McCasue was the agent for
John II. Kellom in the sale of several
pieces OF property. He was new in the
business and money was not rolling in so
fast that ne could take a long time view
Of his investments. At that time a good
square meal safely slowed away under his
vest looked better to him than a piece Of
real estate which might be worth thousands
of dollars in the distant future.
Mr.. McCague had sold several pieces of
property for Mr.. Kellom and his commits
sions amounted to $3.50. one day Mr.. KEEL
lom took him to one of his lots about where
Twenty-third street would be if it were cut
through and said:
Il will give you this lot for what l owe
you in commissions"
Real estate was then, as now, not a pal
atable article Of diet, and as Mr.. McCagua
needed a square meal more than he did
future wealth., ne declined the otter, To-
day If he had the lot he could get $1,000
for it. Lots all around it that sold for a
song in 1881 and 1882 are now worth from
s175 to 5000 a front foot.
But the young investor may shake his
head and say, at is all we'll enough to tel
us what we could have made II we had
been investing money thirty years ago. bu'
the time of rapid real estate rises g past,
To these may be cited a modern in,
~steh:ce. In May, 1900, Mrs. Elizabeth Du
irene invested considerable money or
Farnam street west Of what is known a!
the retail district. On every piece sh,
bought then she has more than doubled he
money. One property at Nineteenth anC
Farnam she secured for $21, 900 and toda!
she could probably get $4,000 for it. At tn.
same time she bought a lot near Eighteenth
and Farnam for $1,000. She has recent!
refused to take $4,000 for It. Anothe
property she secured for $500 is esti
mated to be worth 5000 now. Example
Of rapid rises within the experience Of tn.