The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1909-12-05

The realty situation in the city at
the present time is admirably set forth
by Stowe & Palmer, in their review OF
the week as follows;
Cuisines and prospective business
property still continue TO occupy the
principal attention OF the investors.
State street has been the favoritc Tor
the last week, largely on account of
the announcement of the big deal by
the Auerbachs. The advent again of
this shrewd business family into real
estate operations in Salt Lake City ia
significant. They have made n scientific
study of real estate for years, and
have the benefit of a knowledge of Salt
Lake City for generation. With many
other fields open 10 them, they have
selected Salt Lake as the place for real
estate investments running INTO the mil
lions They will undoubtedly mako
large profits on their enterprise, but
others will share the benefits. People
who arc willing To buy and sell can
make money on real estate now, espe-
Ciallv in the more active sections.
CAS- an example of this, there is a
certain piece of State street property
that changed hands about four ycars
ago on a basis of approximately $40 a
front foot. A year later it was sold
AT an advance of about % per cent.
This purchaser held it about two years
and sold ii last spring at an advance
of about 100 per cent. The same prop
crtv was sold Friday at Il 30 per cent ad.
vance. and the present owner should be
able TO realize profit of onc';hird with
in the next six months.
Regarding the standing of residence
property. il is. a significant fact that
there has been a distinct advance M
the prices Of property in many of the
new cast bench additions, Especially
significant is the announcement made
Saturday by the owners of the Federal
Heights addition, only recently added TO
the city. that all building lots there re
mainiug unsod after the first of the year
would be advanced in price.
This move oil the part of Federal
Heights owners calls attention TO the
general movement among east bench
property owners tn place values on their
property which shall be III keeping with
the unusually good conditions which
prevail.
Comment from realty dealers about
the city all the week showed unusual
confidence in exceptional conditions with
the advent of spring. Even now, with
the winter season fairly setting in, II
is said there is little let ZIP in real
estate activity. and dealers arc laying
plans for great changes as soon rs the
warm weather comes or with the open
ing of the spring season about the first
of April.
4 feature of the week. IT is sand, has
been the inquiries received by realty
dealers from Eastern investors. Appa-
rently the movement here has attracted
attention in the Eastern sections aud
capitalists there are looking about for
bargains Most notable has been the
amount of inquiry for property on State
state. Especial attention has been di-
rected to. a large piece of property Just
south of the MoXum hotel where a
frontage of go feet is said to be de-
sired by Eastern investors, The loca-
tion is considered an unusually beautl-
full one, facing the city and county build
inc, and important improvements are
expected there in the near future.
Perhaps the most important event III
building circles during the week was
the arrival of steel for tho two big ho'
tel buildings, the Utah and the New
house, and the resumption of work
which had been delayed for long
time. The first shipments of materials
arrived Monday, and arrangements were
Mt once made to start operations .at
both places Affairs progressed rapid
ly until Thursday, when the rain and
the snow stopped activity for the time
being. This delay will be only momen
iary, however and it is stated that
matters will proceed rapidly IN few
days.
The bad weather at the end of the
week also interfered with construction
of many other buildings about the city
Work had to be suspended temporarily
IN the big excavation of the kearns
| building on Main street and at the
| Lynch building at the corner of Sec