The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-01-02
CONF ARSON OF
REALTY VALUES
Shows That Prices Are Lower
Here Than i'm Other
Western Cities.
INSTANCES ARE CITED
IN SUPPORT OF THIS
Not Denied, However, That Val
ues Have Increased Ma
teriaIly in Last Year.

An interesting feature in connection
with realty values in Salt Lake City,
even under the influence Of recent de-
velopments which, it is claimed, have
increased prices to an abnormally high
point, is the fact that property here
costs much loss to purchase than pros
pcctive buyers are compelled TO pay in
other cities of the west. \ comparl-
son Of property values here to those
OF Los Angeles or Seattle shows that
prices for good business. locations here
are unusually low,
An instance III point is obtained in a
sale corsummated about year ago by
ono Of the leading real estate concerns
hore for tho Crane company of Chicago,
which involved the purchase OF a tract
for the erection of new warehouse
and salesroom. The property is located
at Second South and Second West
streets. 1t was occupied by au excellent
building, but as it was intended TO de-
stroy the structure to make room for
the new building. the price paid repre-
scnted pretty nearly the value of the
land alone.
The site is 165x165 feet and includes
the corner of the block. Trackage
facilities are prominent feature of the
location. The price paid was $3.50
front foot. About the same time the
Crane company purchased piece of
property In Seattle for a business site,
with the intention also of erecting a
new warehouse. This property was sit
uated as nearly as possible relative to
the business center Of the city and
trackage facilities as is the property
here, yet the frontage is only ll2 feet,
The price paid in this case was $4,000
front foot, or difference of more
some advantages Of location in favor
of this city.
Prices Higher in Denver.
IT. is pointed. out also that property
for first class wholesale purposes located
between Main street and Third West,
can be obtained for prices varying from
$500 to $400 per front foot. Sales of
property in Denver are quoted. where
conditions are as near as possible to
those which hold here, where the prop
erty sells for $4,000 or $4,000 a front
foot. It is also stated that trackage
facilities in that city are not as good
also, that the prices charged for first
cless trackage property in Seattle and
Los Angeles are often ten times as high
as they are in Salt Lake City.
The difference in property values
holds, however. not only for trackage
property, but for realty 70 be used for
other purposes. Three years ago an in
vestor purchased a piece of property
In Los Angeles near the business dis
trict but separated from the busy streets
by a park. 1t was his intention to
utilize the place for the erection of
an apartment house He paid $3.50 per
font foot for the property and after
wards sold it for $2500 font foot.
Los Angeles Values High.
AT that time property similarly To-.
Gated and which could be utilized for
the erection of apartment houses could
be obtained here for value of $50 per
front foot and many of the locations
were superior to those in the City of
Angels.
These figures, it is pointed out, indi.
cate that the prices of realty in Salt
Lake City are not high In comparison
with property in other cities, as has
been claimed by some here Realty
dealers state that the rise in values
is only such as would come with the
change in the development of the city.
That there has been great increase
in property values here within the past
wear is not denied. That the increase
is justified by the improvements in
conditions is insisted upon, however, and
even with the greatest increase that
has been made, the prices charged for
real property are far behind those OBJ
tanned in the sister cities Of the west