The Salt Lake herald-Republican. [volume] (Salt Lake City, Utah) 1909-1918, 1909-12-12
ACTIVITY CENTER
IS STATE STREET
AuerbaCh Coup Started Things,
and Values Have Advanced
at Rapid Pace.
NEWHOUSE DEAL IS SURE
MAIN STREET PROPERTY WILL
BE SOLD FOR $225,00o.

Activity in the real estate market dur
ing the past week centered in State street
Dropertv, which has been the star per-
former from the time the Auerbachs COM
melted their coup, and Mr.. Newhouse an
bounced the erection OF new thedLe az
Exchange place and state street ELoLl'
Third South street TO NlnIn SCUM PLog
ertv values We're advanced az uNSly
rate. and places that were listed Win
the brokers for sale at nominal prices
were Withdrawn from me market ai1o-
getaer o. raised materially. 80
The biggest deal of the week was tudt
involving the DouH drug store corner az
Main street and Exchange place. 1lls
T,rouertv bought by Samuel NeWhouae
from the Bambergers Tor Sl9OuuJ IN 20
--aa7s ago has been practically sold Tor
sos Goa with the restriction, OF course
that the proper kind or DuLulAs ne eLCCI-
ed on it, Mr.. NewhOuse insisted upon
this before he gave an opLoh on II alLu
received a check. The deal viii De con-
sllmmated during the coming week, II
is thouEht and the names OF lnoSe VIM
have come into possession OF TINS CHOlS0
corner will be given out. ~
Repeated denials Of the manager OF the
Newhouse Realty company have not beeh
taken seriously by Well-pOsteu Di M, p p,
who know that an option ls ouI. ll llts
fact has rot been kept secret, dltnousii
the names of the purchasers nave DeeA
closely guarded, and viii not pc gen
eraIIv known until the final detail is ar
ranged. The deal is going through
Trouble in State Street.
Real estate brokers who have been
,,-orlsinr- for some time To close deals IN
State street property nave enco ulilel "a
no end of trouble because OF tne lItILyL-
dol5s sensation caused by the Auerbachs.
They say that while the big deal Is d
ersat boost for Salt Lake, at the same
time il makes the smaller property own
ers Jump sideways to elevate prices anu
-ppre the market in "a uurmOll.
Some State street property. lhdI LOT
months has been considered nl8n az SlUI
"A foot. has advanced as far as Sl5J per
foot, and corners command an even
greater figure than that The sale OF tne
southeast corner OF state ana SeNeiltli
South streets at $50 1907 a Ioitnist
ago is now considered 10 nave peeu d
good deal When ii was sold, the ouy eIs
thought they were paying q neaFS price
They could sell again now at an advance
over what they paid.
Several things transpire TO cause a
raDid rise i'm realty values, instead OF a
steady advance, but the most natural eA-
cuse. of course, is one similar 10 lHe
Newh0use and Auerbach deals. once IN
awhile some romance OF 1lllal aJtacnIneh M
enters into negotiations that make loI
the transfer of property. In the meto-
drama the hero, returning home IN the
fourth act with a barrel Of money over
bids the villain and buys in the property
that his future fdther-lu-ldW was ABOUT
% lose. Then ne marries the girl
Tn Chicago. recently. a downtown DuS-
fuess corner was fairly appraised at SZ09-
COO III was ordered sold at auction as
the result of a partition suit me proper
ty had been left to a son and two daugh-
tiers. and the suit started 10y the SON. was
won by him. When the auction started,
he bid S260U00 the figure set. The sonc-
itors for the daughters raised the ante
and the bidding came thick ana IasI un-
til the property finally sold TOR St9OVV.
The sons last bid was S59aV1O, anG Lne
daughters bid it i'm. Tt was a whole lot
more than the property was worth, but
the two girls, having promised Jheli
mother that the property would never go
out or the family, and knowing the
brother would sell as soon as he came
into pOss essi0u. went the limit and kept
thu corner in the family name.
Invest Anywhere.
'Shut your eyes. put your finger on
a spot I'm Salt Lake, and then invest
your money seems to be rule, Dy the
Way investments are being made Yet
no one shuts his eyes to the possibilities
of State and Main street business snaps.
IF there is 4 snap, it doesn't last long.
Changes OF ownership along these two
thoroughiares have come thick and fast
and viii continue tG come SO long as the
market shows the healthy undertOne of
the present day
The approach Of the holidays and the
preparation for the gala season seem to
be encToaching little upon the activity
in real estate elsewhere i'm the city. al
though one deal of Importance was re-
corded when DIT. A. G.. Behle acquired
parcel of West South Temple street
property. Acreage continues To be NOV
ing the chief difficulty being to find
enough of il close i'm at figures which in
vestOrs consider reasonable. Agents re-
port inquiry active and many deals in a
state which renders it i'm Ossible to give
out fun details now.
Through the HallOran-Judge company.
the northwest corner of State street and
Eighth South street was sold during the
week for Sl05 per front foot. while on the
opsosite side Of the street. between Sixth
and Seventh south streets the Richter
agency sold a piece for a little less than
contintusd an PAGE Twelve.