Omaha daily bee., 1912-02-25
TIMELY REAL ESTATE GOSSIP
Real Estate Men Tell of Develop
ment Of Farnam Street:
SOME PHENOMENAL ADVANCES
City Planning Expert Tells Some of
the Things that Comprehensive
Plan Of City RniIding
VIII DO.
SOME PHENOMENAL ADVANCES

Here are some Of the ideas Of a loca'
real estate salesman on the development
of Farnam street:
Upper Farnam street presents e
good Illustration Of the results Of the
natural expansion Of the business portion
Of the city.
Several substantial buildings have re-
Gently been erected between Eighteenth
and Twenty-ftfth streets on Farnam
street, including the two wead buildings,
the Wellington. Sanford and Harvard
hotels. the Hamilton apartments. and no;
less than fifteen garages. The rise In
valuation due to building operations on
this street was phenomenal In 1903 the
southwest corner of Eighteenth and Far
nam street was sold by the late Edwin
Haney to the Woodmen circle for 5000,
he having paid 81 200 for the lot In 1878
A lot near Twentieth and Farnan
streets was leased for q period Of years
on q valuation of 500 per front foot.
Lots at Twenty-second street which were
offered at 500 to 500 per front foot have
doubled and trebled In the last five years,
the influence being felt as far west as
Twenty-sixth street, where property Of
fered at 500 per front foot only six
years age is now being leased on a basis
of 500 to $50 per front foot.
In the course Of time the one and
two-story garage buildings and flats on
Farnam street east Of Twenty-fourth
street will be replaced by larger build
ings. A large retail store at Twenty
second and FArnam streets today would
be losing venture. but, with the cross
town line through ON Twenty-fourth
street 1t Is not improbable that the bust
ness center Of the city will be located at
Twenty-fourth and Farnan streets fifty
years from today.
Business houses in seeking Il new To-
cation naturally try to discount the fu-
tures The Omaha National bank bought
the New York Life building at Seven
ing a building on Thirteenth street for
over q quarter of century"
Referring to sixteenth street this man
said.
only twelve years ago one OF the larg-
est retail stores In Omaha was Located
at the corner Of Fifteenth street and
Capitol avenue, later building at Six
teenth and Harvey streets. The develop
ment Of South sixteenth street followed
Prices Of property along that street
SCARED as a result The trend southwark
on sixteenth street win probably not
continue further than Jones street, as
the viaduct at Leavenworth street bars
further progress In that direction"
Charles Mulfori Robinson of Rochester,
N. ", city planning expert, in his con-
ference with the city planning committee
Of the Omaha Real Estate exchange last
week, noted the following reasons given
New York for advocating a city plan:
Ftrst-To conserve the public health by
the Improvement of housing conditions.
Second-To secure the proper provision
sf parks. play grounds and open spaces
J. e., their proper distribution, appropri.
Ateness Of size and adaptahility to local
needs .sSt
Third-To make possible the proper de
velopment Of the. sewerage system
adapting the size OF the sewers TO the
nature of the demand that would be
made upon them.
Fourth-To DO the same thing as tc
water distribution.
Fifth-To secure a rational and effee'
tive transit system.
sixth-To avoid waste OF money in &C,
oulring land for future public purposes
seventh-'To promote industrial eff,
cheney by the wise location Of factorie,
and the Improvement of their Transports
lion facilities
L. T. Heyden OF Hastings & Heyden
who recently returned from a five weeks
trip to California, says that he does no
want his real estate friends here to thlnl
that he goes to California for his health
or pleasure, but goes there on business
as we'll The last trip he sold twenty
five residence lots in the city Of Ontario
let contracts for putting down cemen
walks, curoing and grading, in their ad
dition, planted seven and one-hah acre
in peaches and started TO build two five
room bungalows In Ontario, which has 1
population Of about 5000. and Is locates
about thirty-eight miles east OF Loi
Angeles. The city OF Ontario does no
accept an addition until the streets ar,
graded. curblng all put in and the street.
oiled, which does away with the man,
unslghtly streets and makes a beautiful
looking city,
Business has been rushing here on hi
return to the office" says Mr.. Reyden
and the outlook for real estate bust
ness in Omaha looks very eneouragins
better than at any time for several year
at this time Of the year. Many peopl
seem to want new homes"
N l. r.