The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-07-03
REAL ESTATE AND BUSINESS ACTIVITY
benefit of its loan and mortgage depart

I benefit OF its loan and mortgage depart
| ment
II shows figures obtained by represen
tativcs OF the company. giving the ,esti
mated population OF the various large
| cities OF the United States in 1909, the
! highest price of realty per front foot
and the comparative price per front foot
for every 100 population.
The estimated population of Salt Lake
City is little in excess OF that shown
by the unofficial census returns. The
highest price Of ground Main strceD is
siven at $4,000 per front foot. making the
price So per front foot for every 100 popu-
lnrion. The value OF local property is
about the same as that OF Des Moines.
la; Spokane, Wash; Tacoma Wash, and
Trenton, n. j., each OF about the same
estimated population. In one case. that
OF Trenton. the valuation is placed AT
5000 higher per front foot.
No Proportionate Increase,
That real estate does not increase pro-
port'onately with The increase OF popula- :
reached, Is evident from comparison
With the highest price per front foot OF
New York City realty and that OF salt
Lake City. The nations metropolis is
iorty-hve times larger in population than
,h.s city, yet the property per front foot
is worth only ten times as much. And
yet the price OF $50. 1852 per front foot for
New York frontage seems almost unbe
lievable to the person not familiar with
property values, For a hundred-foot
frontage in New York. the width of some
Q! the store buildings on Main stree, here,
the value OF the bare ground would be
50. .095. 200, For the unlmproyed ground
this is million dollars more than the
cost OF the completed Utah hotel, with the
ground thrown in.
The valuation OF Main street property
In Salt Lake City has made rema rSahle
advances In the past nve years, Jbis
Is due TO the phenomenal growth OF the
city. II has not been so many years
ago that this city was n two or three
block town, so far as the business section
was concerned. Main street, between
South, represented practically the entire
business district In those days the
highest property values were bly,
between First South and South Temple
streets. Now, IL is just a question as to
whether more could be realized for prop
erty between First South and Second
South streets, than for property between
Second South and Third South streets.
II is said that the highest price paid for
Main street frontage was by p. Mo-
ran. when he purchased the ground and
building just south of Auerbachs store,
Business District Expands.
With the expansion OF the business dis
trict southward on Main street as also
on State street, there has been a great
Increase In property values, AT the time
that Samuel Newhouse cut Exchange
place through the block from Main TO
State streets, between Third South and
tourtA Soutn streets, tnere were those.
even among the real estate fraternity.
who said that he was going too far south
10 create a new part OF the business dis
trict. The splendid buildings that have
been erected and the remarkable activity
In real estate In that section have dem
onstratcd that he decided we'll.
Before Mr. Newhouse went down In
that section with his skyscrapers. front
age could be bought for from $500 10 $500
foot and is said to have gone beg
ging at those prices Now the property
Is worth probably from $1,000 to $500 per
front foot. AS an illustration of the
great increase of the valuation of prop
erty. the Walkers bought the Bamberger
corner. Main street and Postoffice place.
paving for il about s225.000 Figuring
alone the Main street frontage of 66 feet
they paid at the rate OF sS409 per front
foot, but as the property has a frontage
OF 165 feet on Postoffce place. II can
not be computed on this basis as fixing
Main street valuation,