Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1914-11-23
WEST PHILADELPHIA
SITES TURNED INTO
GOLD MINES BY u
Coming of High Speed
System Sent Realty Values
Soaring Near SD and
Market Streets.

Further investigation OF realty values
in the neighborhood Of SD and Market
streets shows that the elevated line con-
verted little spots Of ground here ana
there into veritable gold mines, Sites
which formerly were occupied by peanut
stands and shoemaker shops now have
prosperous stores or dignihed dwellings.
This increase in values did not adhere
closely to the H. line, but spread out
sd street and east and west on Market,
Chestnut, Walnut and Arch streets for
considerable distance
AS an illustration OF the property boom
which accompanied the high-speed sys-
TEN these few cases are cited.
Especially interesting Is the history OF
the lot at the southwest corner of 52d
and Market streets. Fifteen years ago
this was offered to Select Councilman
Edward w. Patton of the 9th Ward for
$500. Mr.. Patton had arranged to leavs
on a fishing trip when the offer was
made, and he did not take time to think
1t over. "I'll look into It when return, "
he said. Upon his return, however, the
ground had been sold. The lot has
frontage of 81 feet on Market street and
a depth Of IS feet on SD street, and ex-
tends to Ludlow street.
SITE NOW WORTH $4,000.
Ten years ago the site was bought for
$500 Two years later the value Jumped
to $4,000, and when the L road was built
its value more than doubled. While the
high speed line was being constructed,
the Market Street Title and Trust Com
pany erected its handsome bank building
on the site. Now the ground alone iH
valued at $4,000.
Amusement promoters saw the possi-
bilities of the neighborhood some time
ago. The big business done by the Nixon
Theatre. sd street below Market Is a
forerunner of other ventures in the the
atrical field. Plans are now being con-
sidered for a theatre on Market street
which will include the sites 54i2-44-46. 1t
Is said New York promoter is back OF
the venture and is desirous of devoting
the proposed playhouse to legitimate pro-
ductions by permanent stock company.
The ground, now owned by william
York, was bought eight years ago for
$4,000, and is now valued at $4,000. 1t has
a frontage of 70 feet on Market street
and depth of 100 feet
LOTS NEARLY TRIPLE VALUE
On the east side OF Market street. two
AN'o at pSVO anu OEVo now occupied by
moving-plcture theatre of the Grand
Amusement Company have nearly tripled
in value since the elevated road was built.
These lots sold for $4,000 six years ago
and are now worth $4,000
There are any number OF cases in the
neighborhood where values doubled since
the advent of the high-speed line. The
ground now occupied by the real estate
office Of Isaac Kershaw. at the south
west corner of SD and Chestnut streets
was bought eight years ago for less than
$4,000. 1t is now worth $50 900 and likely
could not be bought even for that figure.
The lot has a frontage of s6 feet on 52d
street and depth of 10 feet on Chestnut
street.
The properties from 10 to 16 South 52d
street were sold by the firm of Dakin q
Fitzpatrick, 16 South SD street. six wears
ago for $4,000 each The last one Of
these buildings which was sold brought
$4,000 Now the Others are worth a stil
higher figure
The business men of this neighborhood
VINO have gained through the invasion
OF the elevated road, do not hesitate 10
say 80. Many of them declare they wouId
be glad to attend the high-speed transit
meetings In other sections and tell OF
the practical results which 2Oth century
transit has brought to them.