Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-01-16
BIC VALUE IN SUBURBS
Realty on Military Road Brings:
$4,000 an Acre.
GOSSIP AS TO PURCHASER
Z - - :------ j.
May Be Chevy Chase Land Company
or w. S. CARL.
ANOTHER RECENT PURCHASE
Property North Of Bradley Lane Be-
lieved to Have Sold for =.
/ $1,000 an Acre.

One of the recent sales being discussed
lust now in real estate circles is that OF
the, Morgan property on Military road.
The improvements consist of q good
house and substantial outbuildingsr as
we'll as greenhouses. The entire tract. con-
tains something over seven acres. This
property was sold at auction few
months ago and. the price paid was $4,000.
per acre.
1t was commonly thought the purchase
was made in the interest of the Chevy
Chase Land Company, which owns large
tracts of land all along the line of
Connecticut avenue. 1t is now stated
that the purchaser is w. S. CARL, vice
president of the Capital Traction Com
pany. who will make his summer home
there -
Appreciation of Property.
One comment is that the price is. ac-:
counted for by improvements forming a
part of the value, so that the. money paid
was not for the land alone. Still. with
such an allowance the figures represent a:
scale of values that indicates how rap
idly that portion Of the suburbs Is ad-
vancing.
Mrs. Queen one of the old-time resi-
ton, who died recently, recalled a short
time before her death that her husband
who owned good deal or iand IN the
general locality, bought most or IL Tor
q per acre When the time came when>
he could find a purchaser for 1t at $40 per
acre he thought it Il prohtabFe' transac-
ton.
The Chevy Chase Land. =.
A more recent transaction farther to the
~ CT, pf MnYVanC. along
the line of Connecticut avenue, is the
sale of a tract of land of some forty
eight acres, lying on the north side OF
BRADLEY lane, which forms tie boundary
,, line of the property of the Chevy Chase
Club.
ago in the interest of that ORGANIZATION
so that in the event the larger lrdGt re.
Gently acquired on the south SIDE or brad.
lev lane did not come into the hands ol
the club then this property could I've
turned over to it. The holders of the
option on the property paid II Is uiluer-
stood about 500 per acre. =.
When the title to the other tract. Was
confirmed In the club and there was, no
need TO hold the additional land Tor me
use of that organization Ii was SOLO, me
price paid is said TO have been SsVo per
| acre.
A Rapid Appreciation.
Since then the purchases ih''"' '""F
| over the property. Ii Is stated thdl Ia
the deal the last holders disposed OF 1t at
AN advance of some $409 per acre, which
| makes the present value OF the lana;
| ha sed on this current market price, ABOUT
ST goo per acre While that undoustedly is
aIranid appreciation yet there Is reason
for something of the sort. During the
mast fall that immediate locality has en-
| loved something of boom: Large NUM-
her of building sites have been sold. The
new owners have either begun the cree
ZION of houses for their own use or are
intending to do So
| oon,e from members of the club who have
| become acquainted with the vicinity and
| have decided TO locate their homes there.
| There is another feature Of this move
| ment which is quite apart from that OF
| the mere value of the ground. and that is
| the style in which the houses are being
| built and the liberal use Of ground. ;.