THE SUXDA OREGON! A.X. PORTLAND, FEBRUARY 2, 1008.
REVIEW OF REAL
ESTATE MARKET
Values Reasonable in Face of
Active. Demand for
Lots. .
BUILD MANY DWELLINGS
Indication That .Year's Ojicrallons
Will Keep Ahcud of Hccords
of I'ar-l in All Brandies .
, of Realty Bu-ine:-.. '
ljeals in real estate during the week
have been o a nature to Inspire great
er ' confidence in the market and in
every, ofrlec in the city there is mani
fest a feeling that the year will be a
eeord-bi euker. both In the number
and ' size of transactions. Under the
existing system of recording transfers
of realty the matter of furnishing the
amount involved to the public is op
tional with the persons directly inter
ested, and as a consequence most of
the recorded deals appear' on the rec
ords with a nominal consideration
named. . In point of number the trans
fers for January indicate a remark
able movement in lots on the East Side
tor building homes. The month's to
tals show in reported value in the
transfers SS79.TH for the 23 business
jjays. of 997 items. Of thu latter three
fourths were of Bast Side properties,
or over 700 items. Not over a dozen
iulcs were reported carrying over
3000, a-s nearly all the big transac
tions show a nominal consideration in
the records. -
A few of the transfers taken at ran
dom from the records furnish an indi
cation of values In different parts of
the city and suburbs. A block at Junc
tion sold for $:;375; two lots in Balch's
Addition. $7."i0o: pafl'of lot on Williams
Avenue Addition. $.500: two lots in
aiolladay'fe -Addition, $1'.000, and 20x
100 feet on ' Fourteenth and Clay
streets, $0000.
An examination of the records show
k lively demand for acreage in the
outskirts of the city, 5 to 15-aerc tracts
eing picked up at good stiff prices,
itvith little if any falling off in the in
liuiry. i
' In the downtown district the most
Important sale of the. week was the
forner 100. feet on Morrison street
and iO feet on Park, which was re
ported closed at $!S,000. Other pieces
in that vicinity are being negotiated
fr, one quarter with fair improve
ments being mentioned as nearlng close
of deal at over $100,000.
Kuntors or Big- Building.
lUrnvrs were floating about the city
-:r, ins- t'io week that building on the
1 tun e. block would begin in the
iK..r future, but nothing of a deiinite
' ctT could be ascertained.
i he' new Corbett building ' was
1j n open yesterday and the agents
,'ie estate say 100 tenants will be
. .ajl"J by the middle of this week.
i -stores are all rented. The Com--i
vein's Club building is being rushed,
a-.j tenants will begin moving In In
cjuree of a few weeks. The Cornelius
Hotel is-ready and a new lease will
probably be made for It within a few
days, the former one having been
dropped. The Medical building is re
ceiving thf finishing touches -and will
be ready during the present month.
The new Xortonla Hotel is being
opened. ' The original Nortonla is owned
by E. M. Lazarus, architect, who will
make some alteration In the building
before a new lessee moves in, and may
Sivc a new name to the hotel;
Joseph M. Healy Intends to construct
a safe deposit plant in the rooms he
will ocuupy in the new Board of Trade
building. Work on that building is
progressing favorably. The Gerlinger
and Burkhart buildings at t-econd and
Alder arc going up rapidly. Altera
tions on the O'tihea building at Sixth
and Washington are nearlng comple
tion, the upper stories having been cut
up into 'offices.
The1, record of building permits for
the month of January furnishes an ob
ject lesson both interesting and 'en
couraging. While permits for large
structures In the business part of the
city do not figure in the permits, there
ai'n several in the hands of architects
which will keep up the pace set last
year. : The greater number of permits
were for dwellings on the Kast Side
of an .estimated cost of $306,100 These
dwellings are of a character which in.
dtcates that wage-workers are making
homes for themselves. hundreds of
houses costing from $1500 to $2000 be
ing erected In various sections by own
ers of the lots. From present Indica
tions lively building operations on
high-class dwellings will start up
within the next few weeks. Several
mansions to cot above $J5.000 are al.
ready determined upon for the Nob
Hill and the Heights districts.
New Street to Heights.
The City Kngineer is making surveys
of the proposed new street to Portland
Heights and to skirt the hills to
afford better ingress to bnildlng sites
at present somewhat Isolated. This
street improvement will not only open
up on extension of the building dis
trlct, but will afford present Tesldcnts
a. better outlet to the thoroughfares
leading to the downtown districts.
The insistent demand for small
houses has attracted the attention of
investors to the handsome returns to
come from flats in the more thickly
settled sections of the city, where from
lO to 12 per cent is practically certain.
Numerous flats have been completed
recently, especially on the East Side,
and the report from the renting
agencies Is that these are being oc
cupied, as soon as they are finished.
Houses everywhere are not allowed to
remain vacant upon the removal of
tenants to new homes of their own.
A case In point wag referred to yes
terday by a resident of the south
western part of the city. During the
week three houses were vacated by
tenants who had built on the, Kast
"Side, and before the day was over
new occupants moved in.
Rents are not being advanced at the
rate that might 1e supposed from the
demand for dwellings, though agents
say some Increase is made 'at the ex
piration of. leases which have, run for
two br three years.
Good Tone in Market. ....
The general tone of the real estate
market is excellent. There is no evl
deitcc of - unreasonable, advance in
values, but every reported sale" ' of
business property shows a good healthy
advance, which is maintained without
effort. From information obtained
anions dealers and brokers the present
month will close several big deals that
have been hanging tire for weeks, buy
ers realising that delay means higher
prices.
The time for securing "snaps"' in
Portland realty has passed, b"ut the day
of good safe Investments la here, is
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the estimate made on eonditions by
those who are best posted on values
here and elsewhere
ADVOCATE EV BOND ' ISSUE
Kast Side Improvement Association
Takes Vp Bridge Question.
The North East Side Improvement As
sociation Is preparing to circulate peti
tions for the bond issue for the proposed
bridge across the Willamette River near
Hancock street. Judge M. G. Munly, the
president of the club, has given the mat
ter - careful attention and has assisted
the bridge committee in, preparing . a
form for the. petitions which are to be
circulated, and next Friday night a big
meeting. will be held in the club hall on
Russell street, when the circulation of
the petition will be started. OutsiUe of
the proposed second Bull Run water pipe
line, this bridge Is the biggest and most
Important measure projected for the
coming year, for the district north of
Sullivan's Gulch. It is proposed that
this bridge shall be a high structure and
a wide one, that will serve the part of
tho city north of Sullivan's Gulch for
many years. Figures showing the popu
lation and taxable valuation in that por
tion of the city have been gathered and
tabulated with great care for use-in
furthering this bridge project. Up to
the present every point has been forti
fied with facts and ilgures gathered from
the Assessor's office. The club will move
forward another point during the coming
week. Special .notices have been sent to
every one of the 50u members to be sure
to attend the meeting next FYiday night,
and be prepared to lend h hand in the
circulation' of -the petitions.
It is not yet known what the Harriman
lines will do with reference to the re
building or reconstruction of the rait
road bridge, but there arc some straws
which show something. ' Options have
been secured on several blocks just north
of the cast end of the bridge during the
past week, by whom and for what pur
pose is not known, bat it is supposed
that the . blocks hae been secured to
enable the railroads to secure an en
trance to the proposed new bridge from
the north as well as from the south. Sev
eral blocks, options on four. of which have
been secured, could be cut away and space
secured to allow for a curve deep
enough to swing trains from the north
onto the bridge. The committee from
the North Bast Side Improvement Asso
ciation ascertained that two plans were
in contemplation. One was to . recon
struct the present bridge and another
wus to rebuild anew, either with single
or double tracks. There is not much
doubt a to what options on these blocks
north of the bridge have been secured
for.
Some residents express the opinion that
the city should join with the railroad
company and jointly build a. wide bridge
in place of the present narrow one, say
60 feet wide.
TERM LEASE OP FAI11 HOTEIi
Detroit House to Be Altered Into
Housekeeping: J looms.
James Sutherland yesterday execut
ed with the owners, Beno ii Ballis and
E. J. Daly, a lease for five years of the
Detroit Hotel. This house was erect
ed near the Forestry building during
the Lewis and Clark Exposition, ami
contains 6S rooms. It is located at
the northeast corner of Twenty
seventh and Thurman streets. Th3
lessee intends to remodel the house
into housekeeping apartments, for.
which there is an active demand all
over the city. Mr. Daly .'aid last
night that a brisk demand is observ
able for apartmcnt-hous sites, as in
vestors recognize that this class of In
vtitmcut will uct from 12 to 15 per
cent.
SUBURBS
BETTER STREETS
Property-Owners Willing to
Improve When Material
' s Furnished.
WIDE AVENUES PROJECTED
Agitation Started lor Wider Bridge
to Keplacc Old Structure Xow
Used by ICailroad Company.
Buy Lots for Approach.
The developments of the past week,
so far as the East. Side Is concerned,
were of an encouraging character, and
incidentally showed a '.healthy condition.
From Sellwood to St. John and from the
Willamette River to Montavilla the peo
ple show ,a most progressive spirit. At
Sellwood the people are planning to make
improvements that will run up to $100,000
and even more. Proceedings arc to be
started at once for improvement of every
street that has not already been im
proved. Cost of these improvements can
hatjlly be under $50,Xy or ;0.lX. On top
of this a sewer system costing from $30.-
000 to $60,000 is to be built In that suburb.
The argument is made that money in
vested in Improved streets and sewerage
Is -so. much added to the value of the
property. At Kenilworth and surround
ings street improvements have been started
that will cost fully $50,01)", including Glad
stone avenue, which Is to be paved for
more than a mile. Heretofore that sec
tion has been Isolated for want of
streets. In Waverlelgh, Waverly and
Richmond a general system of street im
provements and sewerage has been
started, which will be carried oir through
the year. In the Brooklyn district work is
progressing on the sewer system which
Will cost the property-owners $242,000, be
sides as muoh more for laterals. It will
probably be another Autumn before this
sewer system will be completed, when
that part of the city will make better
progress. There will also be a big' fill
on East Ninth street across Stephens
Slough, .which will be of vast importance
to the entire district .south of Stephen's
Slougb. On the whole Brooklyn property
owners will spend more than $500,000 for.
sewerage, which includes the laterals on
every street and the big conduit now
being built, within, the pext year and a
half. Including the street improvements
of Brooklyn, Kenilworth, Waverly and
Richmond it can be figured out that fully
$CtX",000 will be spent for these improve
ments within the next year and a half.
1 Benefit to East Stark Street'.
In Central East Portland work is going
forward ou East Stark street, which is to
be improved through to East Twentieth
street. Between. East Water, and Twelfth
probably no street in Portland will have
cost so much for solid fills. There will
be a till between East Water and Seventh,
and then ug&ia another fill between Ninth
and Twelfth, the cost running above $150,"-
000, but the property-owners have already
been compensated by the appreciation In
the value of their holdings. A block on
Grand and East Stark held for $10,000 be
fore the tills could not now be bought for
$Jo,000. It is expected that the Mount
ilood 'railway will come into Kast Port
land on Bast Stark street. At least the
company purchased property to the
amount of S150.000 on that street. '.Another
big Improvement that will be completed
this year is that of Belmont., While there
has been some delay, the work will go
forward at least to East Thirty-fifth
street at Sunnysldn. The improvement of
this street to Sunnyside from East Water
will represent fully $150,000, including the
big fills required. It will be fully im
proved to the top of Mount'Tabor. The
civic organizations of the East Side are
insisting that the paving of Grand avqg
nue and -East Morrison street shall b
completed in time for the Rose Festival
procession. The contract on Grand ave
nue was let as far as Sullivan Gulch,
but the company has not laid the pave
ment. Clubhouse Xears Completion.
In North Albina on Kllllngsworth ave
nue hard-surface pavement will be laid at
once' for a distance of over a mile at a
cost of $73,000. On this street and near
the PLedmont car barns the railway com
pany is erecting a $10,000 clubhouse for
the use of the carmen,, wliieh will be
finished . early this Spring. There Is ' a
great building movement In "North Albina,
and there is not a section . on the East
Side that is making so great progress as
the district surrounding these car hams.
The new East Side High School-wiH.be
built a few blocks south of Klllingsworth
avenue, where a rive-acre . tract was
secured for the purpose some lme ago.
On the Peninsula the people have de
elded on a general progressive movement.
Seven push clubs and ciMc organisations
have formed a federation. The clubs are
linked together by a general executive
committee, a member from each club,, the
object of which is to secure consorted
action ' on improvements ' in which the
whole of the Peninsula i interested. All
these organizations will insist on the im
provement and beautifying of Columbia
Park, which is ltuated at , University
Park. It Is proposed to have roaes and
flowers of all sorts et out In this park.
Also these clubs wilt Insist that it be
generally improved throughout, provided
with walks and electric lights. Better car
service also is one item on which the
federation is united.. 'They are to ask for
a general opening of streets. Patton
avenue is to be extended between Port
land and Columbia boulevards, a distance
of over one mile, and 100 feet wide, Pat-
Uton avenue will thus cut through an
extensive district to the Columbia boule
vard. Also Villard avenue is to be opened
and extended to a connection with Pippin
street, also an important improvement.
Peninsula Residents Awaken.
There is a general progressive move
ment all along the Peninsula. Electric
lights aud street Improvements are to be
looked after by the federation of clubs
during the coming year. - -
Among the important projects for iDtX
is the opening of East-Glisan street and
Villa avenue through the Ladd" farm to
the .city limits at . Montavilla. Part of
this work' has already been done. Be
tween West avenue and tlfo city, limits
Villa avenue, an 80-foot street, has been
made, and proceedings harve been started
to opea the streets 80 feet -wide from
West avenue to Wlberg Lane, - through
Center addition and then through the
Ladd farm, also M feet wide. It is an
nounced that opposition to a wide street
through Canter. additlou has been largely
withdrawn and that the present proceed
ings will go-through without. serious op
position, such as It encountered a y:ar
ago. Beyond Montavilla, where there is
a big clearing movement among the prop
crty'owaers. the wide street is to be
continued on through - - to Fail-view.
Charles I -a Follette has this extension,
which' will-be a country road, in hand.
Farmers generally hav e signified their
willingness to give the necessary land
for the proposed road on condition that
Villa avenue and East Glisan street arc
made So eet wide, which is now being
brought about.
Value of Good Streets Emphasized.
In his several addresses before the East
Side - Push -chjbs Tom Richardson em
phasised the need of improved streets,
and if the property-owners can get the
material for paving streets there will be
a general movement for well-paved
stret In . all directions. The ouly check
to. street improvements will be want of
paving material.
Real estate sales on the East Side last
week were- mainly for residence purposes,
although real estate men report con
siderable Inquiry for lots as investments.
In Bast Portland the proposed theater
propostion fs working out quietly, as the
promoters do not care to make a noise
until they have something - definite to
announce.
In the Williams addition John Sullivan
sold to C. S. Palmer lot 10, parts of lots
3 and 4, block 2. for $3000. Lot 3, block
3, Ka.st Portland Heights, was sold to
Mario Schwartz for $1800. E. I Barnes
bought block S8 at Junction for $S373.
E. M. Grimes bought 2S acres of John
Bliss In the John Koger donation land
claim for J420.
T. J. Short sold to William D. Foth
part of lot 10. block 4, Waits Cloverdale
annex for $2400.-
At Woodmerc, thr Portland Realty
Company sold, to Frank J. McCarthy lots
1. Z and 3. block 18. for $475. Same prop
erty was sold to I. A. Beedo for JlOoo.
In Albina Addition, Ad,a L. Hadley sold
to J. Babich and Victor Smolsin lots 1
and 3, block ?, for $1800. John M. and H.
C. Pittinger sold to John Mueller south
half of lots 1 and 2. block 13. for $aoo.
At Creston. the Western Oregon Trust
Company sold to C. R. Beardeley lots 1,
2, 3. 4 and . block ?. for S1".
YOU WILL BE CONTENTED
IF YOU BUY IN
Why continue' to pay rent when you can
build a home in this beautiful residence
district where you will have every city
convenience. Make a beginning. It is easy
HARTMAN 8 THOMPSON - - CHAMBER OF COMMERCE
LOT IS SOLD
REALTY ASSOCIATES GET COR
XKR PARK AXD MORRISON".
Bought by J. E. Bennett in J88B for
$5000, It Is Now Trans
ferred for $105,000.
' Some days ago sale was reported of the
J. B. Bonnett property aj the northeast
corner of Park and Morrison streets.
Louis Burke was the reputed buyer at
$9S,00O. It developed yesterday afternoon
that some hitch occurred in that deal
and a new ono was consummated be
tween Mr. Bennett and the Realty As
sociates of Portland.
The figure at which the coruer changed
hands Us $100,000, with an arrangement
concerning adjustment of leases etc., that
wll.l place " the total Involved in the
deal at $S0W additional, or $105,000.
Mr. Bennett bought the 100 Teet on
Morrison by 50 on Park in June, lsG, for
$3000. and in LS90 built the three-story
frame building now on the site. He refused
an offer of $00,000 at that time for the
property. The Realty Associates' deed
calls for possession dating February 1,
and the manager, Mr. iluynolds, said last
night that while no definite plans are
ready for announcement there is every
reason to believe that a modern building
will be erected on the site. Arrange
ments with present tenants and the prob
ability of an offer for the property that
would iHterest the new owners are two
matters that will have to develop beforo
the company . decides, on their fulure
plans. '
The Rejlty AssoeiHtes is composed of
I
GIT
Robert D. Inman, Dr. Andrew C. Smith,
E. E. Lytle, N. W. Rountree and II. K.
Reynolds.
- Buys Thirteenth-Street Lot.
E. J. Daly reports the sale of a lu't
53 byi 100 on Thirteenth street, near
Main, on which there Is an old house:
consideration $7750. The purchaser is
an out-of-town nun, whose name Is
withheld for the present. It is his in
tention in the near future tq erect a
modern apartment-house on the lot.
TOWERS AVOIDS GALLOWS
Given 99-Year Sentence for Killing
Clow in Hold-up.
BOULDBR. Colo., Feb. 1. The jury in
the case of James Cavln Towers, churged
with the murdor of Frank Clow, engi
neer of the North Coast Limited train
ou the Northern Pacific,- was found
guilty this afternoon of murder in the
second degree, the jury recommending
tout tlie-court -impose tho sentence of 99
years. According to the Jurors, only the
fact that the fireman and a hoho on the
train that was' held up failed positively
to identify Towers as one of the bandits
saved him from a first-degree verdict.
J. AV. Bell Announces Candidacy.
j. W. Hell, a lawyer, with offices in th
Fcnton building, will on Monday tile ids
petition us a candidate for the nomina
tion of Justice of the Peace on the Re
publican ticket. Lawyer Bell has his pe
tition ready for filing, and he is espe
cially proud of the fact that it has been
signed by Z)i lawyers arid by the five
Multnomah County judges.
- .IVK SCENIC PHOTO VALENTINES.
Clever, novel, rich. Kiser, 245 Alder tt.
T.I' tzger. jeweler, optician. 343 Wash.
PA
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