The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1913-01-25
Topeka Land Values Have
Shown Remarkable Increase.
Real Estate Men Tell of AID.
vance i'm Price.
OPPORTUNITIES FOR BUYERS
1t is Not Necessary to Go Else
where.
Much Money Made in Topeka
Real Estate.

Real estate values have increased
with remarkable rapidity in Topeka
the last few years. This fact was
brought out at a, meeting of the To-
peka Real Estate Dealers association
held this week. Instances were shown
where business and residential prop
critics have advanced several hundred
per cent in this period.
1t was pointed out that one does not
need to go to Texas, California, or
Florida, to make money in real estate.
There are plenty of opportunities for
the investor right here in Topeka.
Walter Thompson, George M. Noble,
c. ]. r. Smith, c. B. Wingett, w. w.
Webb, E. M. Cottrell, w. A. Neiswan-
gar, George Clearinghouse, William
Forbes and N. B. Burge were among
the speakers at the meeting.
Some Surprising Advances.
Some surprising advances have
been made in real estate in the city
said N. B. Burge. Some people who
have had faith in Topeka real estate
have made money. While this pro-
cess of general advance in Topeka
real estate has been taking. place a
great many people in the city, have
withheld their money from invest
ment at home, and have chosen real
estate investments in other places,
which in some instances have proven
disastrous. Real estate values in the
city of Topeka are on a sane, solid,
substantial basis.
Take for instance, the so acre
tract in the west part of the city,
known four years ago as the Metsker
tract. This tract was on the tax rolls
four years ago with assessed val
uation of $2S,500. Today it is assess
ed at nearly 100000. This is a prac-
teal demonstration of what faith in
a city's future will produce.
Another instance: Four years ago
the 22nd day of last June a tract of
81 acres on the west side of the city
at Eighth and Washburn avenue, was
purchased by one of Topeka,s lead
ing citizens for $4,000, and three
years from that very day, he sold it
for $4,000 cash. This same property
is on the tax rolls of Shawnee county
now, at more than $4,000.
These properties [ have referred
to, of course, are in the residence dis
trict of the city, but it simply demon
strates one thing, and that is this,
that money can be made and IS benS
made in Topeka real estate, and that
Topeka real estate is a good purchase.
Our citizens in this city should more
fully realize the opportunities at
home, and not be grabbing at the gilt
tering will away from
home.
Topeka Enjoys Steady Growth.
I'm october, 1911, we sold five room
house and one and one-half lots on
East Seventeenth street for $1,000,
stated Stanley Medlicott, of the Shaw
nee Agency. 1.-THE payment down was
$50 cash. Eleven months later our pur
chaser sold the property for cash at
81, 800.
1.-TWO lots facing Central park on
Clay street bought April 10, 1910, at
81 800, owner refused offer of $4,000
this fall. Our Agency sold a six room
house on 11a lots on Garfield avenue,
in Elmhurst, for $3.50 on the payment
% r,c,l1
down. Purchaser lived in same year
then sold the property for $500 cash.
1--WE could furnish many more exam
pies of the same kind, showing that
Topeka is not booming but is enjoying
a steady, healthy growth and that the
man who is satisfied with legitimate
profit has an opportunity to invest his
money and take it at home
Opportunities Are Great
1.-The opportunities, said George NJ.
Noble, ''in Topeka today to invest are
greater than they were 20 years ago.
They are visible to more people. There
is not single direction from the CEN
ter-Sixth and Seventh streets and
Kansas avenue but will be greatly
advanced in value within the next few
years. The organized effort which is
being made by the Commercial club
and the Real Estate Deal
ers' association is Just as
certain to give results, as organized eff
fort is in any other department. The
person who turns down a fairly well
considered investment in real estate in
many sections of the city of Topeka at
this time, will regret his action within
the next few years.
Just word about suburban prop
erty with which we have had some ex-
perience," said c. B. Wingett, presi-
dent of the Topeka Real Estate Deal
erS' association. 'In 1910 we plated
$50 acres into three, five and six
acre tracts. one and one-half miles
west of Washburn college and between
Seventeenth and Twenty-first streets,
and gave the tract the name of Qui-
vira Heights. A price of 5000 to S21O
per acre was established with reason
able terms
Some of our good friends told us
it was not a salable proposition; was
too high in price for land, too far
from town, street car, etc. We had
faith, told the people about our prop
erty through the papers although no
concerted effort was made to sell the
tracts until 1911 and 1912. Today all
the tracts with one exception are sold;
five tracts have been resold at profits
of $500 to $500 per tract. Today you
can't buy single tract from an origi-
nal purchaser without paying an adj
vance in the original price of $500 to
$500 per tract
Prices Have Scared.
zone of the surest indications of
the prosperity of Topeka is the steady
advance in the price of lots, both for
business and residence purposes" said
c. J. R. Smith.
There is nothing spasmodic about
the advance, but the demand justifies
the prices asked and received. About
two years ago we offered for sale
three lots on Quincy street, in the
eight hundred block, for $4,000 a.
number, and they were sold in very
few days at this price. About the
same time we sold six lots on the
corner of Thirteenth and Van Buren,
streets for $500. This was over ST.
400 number-and in twenty-four