The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-04-25
LEASE WILL NET
MORE TRAN 1000
skYscRAPER SYNDICATE TO PAY
HANDSOME PRICE TO PROTECT
LIGHTS ON BUILDING.
ESTATE COMING MONEY
WHiTLOCK FAMILY WILL DERIVE
PHINCELY INCOME FROM VAL
LIABLE MAIN STREET
PROPERTY.
ESTATE COMING MONEY

On IL per cent net basis, the
Whitlock estate has leased to the First
National Bank syndicate the Main
street property Immediately adjoining
the Chamber of Commerce. building
on west and fronting 81 feet on Main
street, with depth of ITO feet. The
lease runs for ten years, and at the
| expiration OF that time 1t Is under
stood that the syndicate may buy the
property IL 1t 30 desires. The lease
! rate Is based on property value
slightly in excess of $4,000, thus
making the income to the Whitlock
estate more than $1,000 per year.
Taxes and repairs during the period
of the lease Will be betrayed by the
! lessee.
rms property was originally a part
! of the old half-acre lot of which the
chamber OF Commerce site comprised
Inc remaining section. AS is generally
known, the city was divided into
| blocks of four half-aere lots by Will
liam Byrd III and sold by lottery,
| the price of ticket being five shill-
lngs. The title to the property ia
question runs back clearly to that PEE
! Rod.
Paid $4,000 Rental.
twenty years ago the property could
have been had for $4,000, and during
that period the Denoon real estate
nrm estimates that 1t has paid nearly
$4,000 rental on that part OF the
property occupied by 1t. The other
frontage of the property is now oe-
cupied by the Newport pool parlor,
The purchasing syndicate. which is
preparing to erect skyscraper on the
Chamber of Commerce site, leased the
Whitlock property to prevent erection
oil taller building thereon that would
cut off light from the west side of the
skyscraper. For the same reason the
Pizzini building in the rear of the
chamber was recently acquired for the
sum az $4,000. Leases. on neither
of the buildings will be affected by the
| deals.
1t is announced that the morning
newspaper has determined TO build a
new home for itself on the South
! Tenth street. near Main. plans having
been already drawn.
X. Francione has just Let to W. A.
Chesterman the contract for erection
of two up-to- date brick store build
ings st Nos. 10 and 2 West Broad
street. at a cost Of neariyq 900.
and IL is stated that work of con-
struction will be commenced without
delay.
Colonial Home Sold.
Wilton on the James," formerly the
| home OF the Randolphs aud q hand
some old colonial estate. has Just been
sold to G, P. Finnegan, of Henrico
| county. for $4,000 The property was
formerly owred by the CORVALLIS es-
tate OF Rochester, y. Y
Building Inspector Beck has issued
the following orders of removal in
connected with delapidated property
In Richmond:
n W Bowe q Son. TO pull down
one-story frame. metal covered
/ blacksmith shop occupied by j. II
10 Brook. Moncure & Carter. agents.
TO remove or repair dilapidated
dwelling. OF North Fourth Street
Straus-GGnst Il Company TO remove
or repair three two-s story frame
stores, s05-2 o7 -aos West Bread street.
and 10 A. J, Chewing & Company.
agents, TO remove an unsafe two-story
/ frame dwelling, 6 Nest Duvai street
Herman Paul. Assistant Superinten-
dent Of the City Home to remove an
| unsafe two story frame dwelling, aas
North Seventeenth Street In rear.
froutinv on Central Street both oceu-
pied by coored families
Charles Burkert. Assistant Superin-
terdent Of the. Water Wsrks. to re-
move an unsafe two story brick dwell
ing in rear of 2z6 North Seventeenth
Street. fronting ON Central Street
Emmanuel Raab and Charles T~ahen-
burg 70 remove the old four story
brick buiicine AT the southwest cor
ner Of Nineteenth and Main Streets.
formerly used as the Methodist Mis-
sion.
r. II Mayo TO remove a series of di-
lapidated frame buildings, 500 sos
West Broad Street, and 20i 1908 EOS
West Broad Street
Councilman James j. Burke, of Mad
ison Ward. WAS notified to remove an
unsafe two-story frame dwelling. 1909
East Broad Street