The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-08-27
DEALS PENDING
IN REAL ESTATE
Cooler Weather Brings Rally
and Some Large Trades
Will Be Closed.
WALKER SKYSCRAPER
STIMULATES BUILDING
Location of State Capitol a Sub
ject of Discussion in
Realty Circles.

Tho Influence of the cooler weather on
the real estate market was apparent last
week The movement of real estate,
which was somewhat dull In midsummer.
showed a characteristic fall rally and be-
came quite active. Several big deels are
IN prospect and all OF the real estate
firms report conditions excellent AT pres
ent and prospects for the future even
better.
Definite announcement that work on
the Walker skyscreper would begin this
fall caused stimulation OF values In the
central downtown district Property on
Second South street is also being held
high In anticipation Of the new skyscrap-
er becoming a pivotal point In the GOWN
town business district.
The NJ, II. Walker Realty company an
nounced Friday that Eames Young, the
prominent st. Louis architects. had been
selected as the architects for the new
skyscraper. These two architects rank
with the greatest In the world and their
building viii be one OF the most beauti-
full modern Office buildings In the coun-
try, The James Stewart company, the
New York contractors, which has done
Lakes recent buildings, has been select
ed to construct the new Walker building.
The work OF tearing down the structures
now occupying the site Of the new build
VIII begin Immediately thereafter.
Work on the excavation for the new
Auerbach building at State and Third
South streets and on the site for the new
high school building on the east side Is
progressing.
Discuss Capitol Site.
Real estate people wore interested in
the move inaugurated during the week
by some OF the dealers TO change the
site OF the new Utah state capitol. One
nY0nOS9l caDttOl
east bench, the contention being made
that the present site Is unsuited TO
and that the view OF the capitol and
from the capitol will be largely obstruct-
ed. Another suggestion is that the capi-
tol be moved higher UP on the foothills
10 the rear OF the present site and tbay
IL be built al the base of Ensign peak.
This. il is maintained would be COM
mandfng site for the new building and
would meet the objections 10 the presen;
site. The site on the east bench has
been offered to the state capitol commits
sion by real estate firm. while the site
at the base OF Ensign peak is largely
owned by the city
The site on which II was originally
proposed 10 erect the capitol was pre-
sented to the state by Salt Lake City
II consists of % acres on CAPITOL hill
at the head of State street. The site
was designated as the capitol site by
the state legislature. so that II any other
ste Is decided upon by the commission
this action will necessitate the calling
or a special session of the state legiSla-
ture TO authorize the change.
Will Soon Close Deals.
The state capitol commission has not
vet indicated whether or not II will con-
slider q change in the site for the new
capitol, In the meantime the commits |
sion Is working out the details for tho
architec tural competition for the new
capitol. The rules for the competition
prnbably Will be announced soon
Plans are being quietly made for the
erection OF two other large public build
ings. These are the state armory, which
Is TO he built on the capitol grounds, |
and the administration building, to be
erected for the state university at cost
OF s3o0.000. No authoritative announce
meut has been made as TO the proba Bile
time in which work wifi begin on these
buildings. but such an announcement Is
being looked for
Real estate dealers promise to an
nnunce the completion OF several inlpor-
IAN! deals soon. They say that with the |
coming OF cold weather people are return
ING 10 tie city from the summer resorts |
au1 filling up the residences and apart
menis temporarily vacant during the |
summer. Realty men prophesy fall
building boom, not only in business
blocks but also In residences. With the |
competition OF several new apartment
houses rents for apartments are lower
ihnn last year: but rents for houses re-
main high.