The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-12-24
REALTY MARKET IS
IN FIVE CONDITION
Big Deals of Recent Date In
dicate New Year of
Activity.

From almost every real estate office
in The city comes the confident asser.
| tion that Salt Lake is now completely
so out Of the woods so far as business
depression is concerned. Inasmucb as
the men in these offices are in closer
/ touch with the business pulse than any
other class of men with the exception
Of the bankers, this display Of buoyant
optimism is founded close 10 the
! facts.
| The most significant of these facts
| has been written in big letters across
the business horizon in the last ten
| DAYS through the unexpected develop
mcnt of a number of large deals III
! downtown realty which in turn have
resulted in a tense expectancy in the
market that foreshadows more transac
| tions of the same magnitude
Spells Progress.
The biggest single deal Of the i'm
| mediate week WAS the sale Of the prop
! ertv at GIGS West First South street
J for $500. or at the rate OF $1,000 per
front foot, the sale representing the
| first step towards tho construction oil
a five.story business block on the
premises Robert Ii. Anderson was tht
seller Of the property and the Zion
Savings Bank & Trust company was the
| buyer, acting in "a certain sense for thf
Bennett Glass & Paint company, when
! held the original option. The latter
company has the privilege of buying
from the bank within thirty months
and it, is understood on good authority
! that il will do so for the purpose oil
! building permanent business home
! This deal has special significance IL
! that it comes in conjunction with
number Of important deals. either com
pleted or contemplated. AL aimed a'
part of the business district as the un
questioned stronghold OF tho loca
commercial world. The sale of the r
* Thomas promises Just north Of The
| Dcserct National bank on Main stree
was ono of these deals This property
sold for $50 ,00C, or at the rate of SIS,
| 600 per front foot.
Big Deal Pending.
There is now pending deal for tht
purchase of property on the west sid'
Of Main street between South lcmpl'
and First South streets in which th
price per front foot viii bo at leas
$500 greater than that obtaining IN TN IN
sale Of the Thomas premises. TIN
transaction, though clothed in secrer'
| at present. will moro than likely b.
completed before the first Of the year
The purpose of the purchasers Is sale
10 lic Investment with the probable con
struction of building within the mex
two years.
Another wcllfouudcd report o
which many real estate dealers arr
cognizant has il that the vnar 19l.
will sec the passing Of the ancient aD'
historic Emporium building at Tirs
South and Main streets. now occupied
ibv fhc Utah National bank, and th
lcrcction in it's place of modern struc
,urc TO house one OF several arg
financial iusttut,ous that now bav
their ewes on the site. The building
lis owned by the salt Lake Securit,
& Trust company. II is known tina
ncootiations for its sale have beer
oprncd on several occasions Of late, bu
the present owning company, being on
of those that believe tho site 10 b'
verv superior for banking purposes, ha
evadcd all offers to date.
Inquiries Numerous.
Such is tho condition of the res,
estate market at present. The air i
charged with activities that promls
To blossom out into important deal
, i'm the immediate future. Every deale
and investor abreast Of the Tunes l
making eager, tnOnSn HuLIu'p- lnuuN-
for propcrtv in the business district
, I.s though they sensed that right nov
prices arc cheaper than they Will eve
be again.
Nor is the northern part Of the busi
moss district the scene of all the awak
ching activity. Along Third Sout1
street property owners arc pricklpI
their cars 10 catch the aftermath o
the big Freed deal of two weeks ago
This deal is believed generally TO hay
competition with rho persistent rumo
about tho establishment Of nev
rotail district in the ueighborhood o
Third south and state streets. Th
fnct that the property sold for 5000
nor front foot, which il the hIghes
nricc ever paid off Mnin street lcnd
decided color TO the report. Hardly
merchant or property owner along Thir'
south street between Main and Stat
etroets that has not been approached
I;n the last few weeks with inquire
as 10 leases and possible sales.
REGARDLESS Of the big deals and I'll
,nors of big deals. the real estate mar
let finds itself finishing rather haz
nrdms wear with flying colors- Smal
trade has picked up wonderfully durirt
tho Last two months under the lmpet0
Of extensive building operations prom
: isod for the spring Of 1912 and deal
[ crs find themselves about 70 enter int
: their heritage of prosperity.
Tocyrp ppTnrIn-o