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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Nov. 21, 1909)
THE SUNDAY OREGOMAX, PORTLAND, NOVEMBER 21, 1909. MARKET-TAKES i UNUSUAL SPURT Deals Aggregating Millions Are Consummated in Portland . Withirr Last Week. BUILDING "PLANS. ARE BIG Aclirity In Ileal Estate la Far Above Par and Great Demand for Prop erty Only Equaled! by Great Construction Projects. Big deal hav, been a feature of rsalty trading in Portland during the past week. The tradinsr has been var . ld In character, but there has been a A decided tnne of strength to the mar ' ket. and the large reaj estate opera tors have been feeling the effect of a heavy demand for centrally located prop erty. Amor.ft the large deals rloaed during the week was prominent the purchase of 90 acres adjoining the King's Heights and Macleay Park tracts for 1500.000, which Is to be reclaimed from a vast slough to become a high-class ' residence district in Portland, and which Involves one of the largest engineering operations ever undertaken here. But the purchase of this tract by the Seattle Investors is not the only large deal representing the Influx of outside character. Th Otis Elevator Company purchased a corner at Thirteenth and Stark streets for 351,250 as a site for a big ranch here. A deal of 75,600 ia roported at Sixth and Hoyt streets. A lease involving the payment of $2a2,00o for the Mra. P. J. Mann property Eleventh and Alder streets was nego tiated. L. B Menefee purchased th corner at Twelfth and ashlngto streets for $175,000, and set a new mark f'r realty values in that section of th city, and in addition to these many deals of less magnitude, but deal which a few months ago would havi been thought large here, were consum mated. In addition to the heavy buying num ' erous building projects were announced which will add greatly to the general fhflrntr of the Mtv The announce nient by i. K. Henry of the prospective building of a Jnfl.OOi) six-story theater and office building to occupy the en tire block between Third, Fourth, Pine and Ash streets came as a surprise, and i can have no little effect on the prop ertv in that section of the city. An nouncement Is also made by Dr. An drew C. Smith of the erection of large hotel building, eight stories high on his half-block on Sixth, between Burnslde and Couch streets. Many of the properties purchased will also be Improved. The property sold throujrh K J. Daly's office to I B. Men- efee at Twelfth and Washington is to be Improved with a handsome structure. Across the street the Van Schuyver prop erty Is to be Improved with a three-story building. A block away from this1 will be the Otis Elevator Company building. The property leased from Mrs. P. J. Mann by Messrs. Lewis and Smith is also to be 1m proved with a structure ultimately to rise 10 stories above- the ground. The Sixth and Hoyt property will be Improved with a sightly structure, and taken all in all the announcements made of new buildings which are to be built in the near future and on which plans are definitely under way at present comes as higk In Impor tance as the record of the deals made. The great deal involved in the purchase of the 90 acres at Guild's Lake, while in itself large, is but small in comparison to the great project of reclaiming this big tract of swamp and slough land for high class residence purposes. Strangely enough, this big work is to be undertaken by Seattle capital Tather than by Port land money. Portland had a chance at ttiis several years ago. and in the action of the Seattle capitalists the prophecy made several years ago by Eugene Gem pie, the great Seattle engineer and pi oneer, comes true. He predicted that the hill would be sluiced down into the lake. Now this is exactly what is beintf done. Mr. Semple died a year ago, and so did not live to see his prophecy fulfilled. But now William H. Lewis and Charles S. Wiley, prominent Seattle contractors. have purchased 90 aoes of the land which Mr. Semple looked, over, paying $500,000 for it- In 1905. when Mr. Semple was here, the land could have been bought much cheaper, but the buy is consid ered good, even at the present figures. Now these contractors will go ahead. much on the lines outlined by the Seat tle engineer, and will expend from $1,000,000 to $1,500,000 in reclaiming this land. Lafe Pence also attempted ta carry out this identical project In th Spring of 1905. but failed after he had built his flumes and started sluicing opera tlons. I This great piece of work will hav the effect of adding to the residence section of the West Side, and will add much to the beauty of the city In mak ing a sightly location of what has been one of the eyesores of suburban Port land. The lease of the Mrs. P. J. Mann prop erty, consummated on Friday through the oflces of Parrish, Watkins & Co. and John p. Wilcox, indicates the demand for Upper Alder street property. This property, located at the northwest cor ner of Eleventh and Alder streets, has been taken over by Kobert Smith, of Hood River and C. Hunt . Lewis, of Portland, for a term of 50 years, as a site for a big store and office build Ing. The terms are $350 a month for the first 20 years, $400 for the next 10 years, $450 for the next 10 years, and $550 for the final 10 years, or a total of $252,000 for the 50-year term. This property is now guaranteed to pay an income of 6 per cent on $70,000 for 20 years, and the future Increase In the valuation of the property is further guaranteed by the Increase in rental for each decade after the 20-year terra is passed. Other big leases are now under way in Portland. Some of these are now already practically consummated, v. and are only awaiting the fixing of th bonds before becoming a matter of rec ord. The leases are all being taken for big building operations and all show .the great increase In the values of Portland properties. . -Vi Wildman has purchased the North Portland Hotel property, located at the southeast corner of Twenty-third and Sfffolk street from the J. M. Wright estate for $25,000. The property Is 100 by 100 feet in size, and consists of an SS-room frame hotel building. It now nets 10 per cent on th purchase price. W. F. G. Thacher has purchased the Guild apjrtmcnt-house located near Twinty-thlrd and Thurman street" from S. Sternberg and -J. Werthelmer for $. POO. The property Is lOOxloO feet in size and the building as a well-constructed modern apartment-house. The sale- waa Biadtk. -tiirou&h, tha-agency of A. Backus. NEW. OFFICE BUILDING IS aV & ... - - .. f The building occupied but one-half the property purchased and Mr. Thacher will also improve the other half and expects to increase the income on the property from $3276 per annum, as it now. is, to $6500 by the additional improvements. W. H. McDaniels, of Dallas, has pur chased the property at the southeast cor ner of Union avenue and Multnomah street from -Michael 0'Brie.n for $15,000. The psoperty consists of a quarter block, 100x100 feet in siza, and is at present im proved with a large residence which will b moved to the back part of the prop erty. On the front of the lota will be built a brick building for stores and flats. This sale is but one of many which have been made recently on Union avenue where property values have been increas ing rapidly recently. Mvra D. Goldsmith has purchased an eight-room bungalow of modern design and fine finish located on the north side of GHsan Btreet between Twenty-third and Twenty-fourth etreets. The property, which consists of a lot 35x100 feet in size, waa bought from Margaret Baker and the price was $6750. It vas bought as a home. Parrish, Watkins & Co., made the sale. Mrs. Nettie Heui is having plans pre pared for a three-apartment dwelling to be erected on Seventeenth and Clifton streets on Portland Heights. It will be a three-story structure with apartments of fiv rooms each oa all the floors. The owner will occupy the third floor. It will be of frame and stucco construction with large porches overlooking the city. The cost will be in the neighborhood of $000. A. Rosenstein and I. L. Scbllt have purchased the east 33 1-3 feet of lots S and 6, block 233, Portland, from J. M. Karo, for $4500. This property is lo cated on the north side of Hall street, 1 fe- t"- srT( ' ! ai-i t kiZ Ppi-i l 4- -IM 'rn v- ' s7 ' ' f ! s ! M ti-4" - I I I J- - "-! $ J : if . - t J , Jr- Vm I I Fl II U H : lU- i : I MARCl'S FRIEDH BLOCK, OW FIFTH STREET, ISKAR OAK I 'Scott Traot JxFll GIGANTIC PIMP TO VVT AWAY HILL AXD FILL LAKE TO PRO VIDE: HANDSOME RESIDENCE SITES. Drawing showing tracts of land, aggregating about 90 acres, pur chased yesterday by, Lewis A Wiley, prominent Seattle contractors, for about $500,000. Goldsmith Hill will be sluiced down and convert ed into a residence district. The surplus earth from the hill will be used to fill in the Cottle tract, which adjoins Guilds Lake. READY FOR OCCUPANCY. . . x - 1 . jr,V II i V ff -sF ' between Tenth and Eleventh streets, adjoining the site "of the Dammeier In vestment Company apartment house now under construction. It is im proved with a six-room house, paying 6 per cent on the capital Invested. The sale was made through the agency of Pfjrrish. Watkins & Co. Charles B. Shanks, who has been vis iting in the East, has been boosting Portland in fine fashion, and In one In terview in the Cleveland Leader he ex- tolls Portland to the extent of a column and a half. He tells of the great mon ey to be made here from realty, tells of the wonderful realty activity, praises the shipping facilities, the great Indus tries, the lack of smoke, the great pow er plants and the other good things in th cfty, and prophesies a great future for Portland, which he terms the me tropolis of the West. Mr. Shanks places Portland's population at 376.000. SHEEP' IN SCHOOLROOM Mary's Little Lamb Incident - Hap pens Over Again With Variation. ASOTIN. Wash., Nov. 20. (Special.) The Incident of Mary'a little lamb was re- ' peated, with variations, in a country school near here, according to a farmer witness of the happening, who reached Asotin today. The children were playing during recess. and began teasing some sheep in an ln- closure adjolnidg the school grounds. One sheep became enraged and pursued the little girls of the party into the school room. The teacher had to call on the boya to put out the sheep and restore order. The German mil is four tlaies longer man tne Engnan. a i -jL PORTLAND LANDS NEW PLAYHOUSE Thompson Estate to Spend $500,000 on Finest Theater Structure. t BUILDING . SIX STORIES Site on Block Between Third, Fourth Fine and Aeh Streets Will Be leed for Office- and Show Home Plans Ready. Announcement has been made by C. K Henry, agent for the Thompson Estate, that, a theater, the finest in the city, as well as the largest, will be built next Spring on the property of the Thomp son Estate occupying the entire block between Third, Fourth, Pine and Asfi streets. The building will be a modern class A style, six stories high and equipped in the finest possible manner. The audi torium. to be located In the heart of the building, will be 120x130 feet in size and from pit to dome will be a height of four stories. The entire cost of the structure is esti mated at 5S00.0O0. The plans have already been prepared. Mr. Henry states that a tenant for the property has already been secured and that the theater is toeing built following the plans for the tenant and that a lease has already been agreed upon un a larsre theatrical organization. Just who the theatrical people are Mr. Henry declines to say at this time. Seating Capacity of 2500. The theater will have a seating capacity of 2500. The stage will be 69 feet wide and 40 feet deep and on the wings win be spaces 40x30 feet for dressing-rooms, etc. The stage will be located on the Ash-street side of the property. The main entrance will be on the Pine-street side, where there will be a freedom from car traffic and the usual Jam accompany ing the streetcars. Otner entrances will lead into the foyer, however, from both Fourth and Third streets. This property haa long been owned by the Thompson Estate and is that now occupied by the old Cyclorama Duiiamg, which was built some years ago and oc cupied but little. The entire block is occupied by a number of old buildings which will be removed to make way for the fine structure to replace them. The building will be of concrete rein forced of ' the finest design. It will be built for stores on the first floor, save for the Ash-street side.- On the UDDer floors will be offices, and the entire movement Is a part of the plan of the Thompson Estate to build a high class of buildings in North Portland to add to the tone of that section of the city. NIXE BUNGALOWS " ERECTED W. M. Conklin Company Xow Put ting Up Five Other Dwellings. -t" - -or iLf rVknirltn Cnmnftriv has clnity of East Thirteenth and Division n.UHin tVtA nfitct threa months. C I-' 1 J . .1.. . ' - - - - - . all of which were sold at a good figure. The company nas sianea un five more bungalows, each to cost $2000. to be erected in tne same neign- borhood. A. Ross has the contract for the work, which is to be completed by the ;-- n tha t'oar Thla firm la com- nl.lfna an D nU rt mOll t bOUSA On T-' H ftt Twentieth street, near riawmorne ave nue, to cosi about sia.uuu. NEW BUILDING ERECTED FKIEDE BLOCK COMPLETES FIXE LIXK OF STRUCTURES. Store Space Is Leased and Five-Story Block Will Now Be Rap idly Completed. Fifth street is rapidly becoming one of the most metropolitan streets in Portland. Little by little the small buildings along the etreet have been removed, until now the street affords a view of fine struc tures and an unbroken line, with but few exceptions, of good office, store or whole sale buildings. There are still a lew spots to be Improved, noticeably the cor ner at Fifth and Alder, owned ny jonn B. Teon, but plans are now under way for the improvement of this property with a 15-story building, and thus another eye sore to one of the finest streets in the city will soon be blotted out. One of the buildings on this street which Is Just being finished is the Marcus Frieda & Company building, erected on the west side of Fifth street between Oak and Stark streets, adjoining on the north the new Commercial Club building. This is a five-story brick building, construct ed of a buff colored brick and built on a steel frame. It was -designed by Bmil Schacht & Son, architects, and was built at a cost of $60,000. The ibullding is now practically completed, save for the put ting In of the store fronts, and this work will now be done at once, the stores hav- Irur Just been leased for a term of years The structure occupies a space, ooxioo feet in size, and above the first floor, l which is arranged for stores, is built for offices and lofts. The building is equipped with a steam heating plant and a pas senger elevator. DAVIS BUYS GOOD. BARGAIN Quarter Block on Grand Avenue for $42 0,000 Latest Investment. Napoleon Davis, who recently sold to' V. D. Williamson the Burkliard property. haa bought from Joseph M. Healy for $20,000, a full quarter block fronting 100 feet on Grand avenue and 100 feet on East Clay street. This corner has always been considered one of the choicest In the business section of the East Side from the fact It has always produced a big income during the years that other busi- ne.-a corners stood vacant. Mr. Davis looks for a rapid rise In valueB, this vi cinity being only one block from Haw thorne avenue. This quarter block is partly covered with frame buildings by several business places with monthly rental now of $125. The sale was made through the office of Clohessy & Smith. The same firm also reports the follow ing sales during the past week: One lot near the corner of Main on First street to a local capitalist for $35,000. This lot ia -occupied 4k- fraraa building and is leaeed to the Weinhard estate for J2f,i per month. Ten acres at Montavilla for $6500 cash. Ten thousand dnflars worth of lots in their own tract, Capitol Hill, for the past ten days, this ' figure being a great in crease over previous weeks. CEXTEXXIAL COMPANY BUILDS Newspaper -Men's Organization Erects Three Dwellings. The Centennial Investment Company, Incorporated in 1905, has started on the erection of three houses on its un improved property. A $2500 housa will be built for "L. H. Spencer in Scenic Place, on the Peninsula. An other is being erected for Dr. J. C. .Zan, on I'ettygrove, near Twenty fourth, which will cost $8000. The third Is a bungalow, which Is being built on Harold avenue, in Sellwood, for Nelson J. Hewitt, at a cost of $2500. Eastman & Company Is the contrac tor for the three buildings. The com pany will erect several more in the near future. This company has ample resources. It is composed of Portland newspaper men. From its investments and sale of stock, it has large Income, which is being reinvested in the pur chase of property and erection of new buildings. BUILD ON WASHINGTON VAN SCHUYVER ESTATE TO IM .PROVE QUARTER BLOCK, Site Cornering on Twelfth Will Be Used for Three-Story Hotel Building. W. A. Van Schuyver, one of the heirs of the W. J. Van Schuyver estate, which owns the property at the north west corner of Twelfth and Washing ton streets. Is having plans prepared for a fine three-story building to be erected on the property in the near future. The Van Schuyver estate owns a quarter block, 100x100 feet.- at this location and for many years it nas been covered with a number of old frame buildings. Bennes, Hendricks & Thompson, ar chitects, are now preparing plans for a store and hotel building for the property and the building will be started at once and finished by iay The cost is estimated at about $50,000. It will be a three-story brick structure of buff-colored brick and will be ar ranged for stores on the first floor and for hotel purposes on the two upper floors. In addition there will be a full concrete basement. The property has been owned by the Van Schuyver family for about 30 years and was bought for a pittaace. Last week the quarter block across the street was transferred for $175,000. Another development of an unsightly property in which Mr. Henry has been interested is the bringing of the John Deere Plow Company here, which win erect a modern reinforced concrete building of at least six stories cover ipg an entire block on East Morrison street. This property will be used as the Pacific Coast headquarters of the plow company. AGGREGATE IS LARGE REALTY FIRM MAKES DEALS TOTALING $32,975. Sales Are for Homes, Vacant Lots, Farm Lands and Improved Properties. ,A number of sales have been reported throuerh the office of Grussi & Zadow, deals totaling $32,975 being made re cently through the agency of that firm. A. I Clark bought two flats and a cottage located on a 50x100 foot lot on Eleventh street between Hall and Col lege streets from Blnford Bros, ror 1S500. Two and a third lots in block 11, Albina Homestead, were bought by F. M. Criteser from C. M. Zadow for 12250 Anna C. Braden bought a new bungalow at the northwest corner of East Thirty-ninth and Stevens' stf eets from the East Side Construction com pany for $2900. A. B. Brown purchased a house and lot at 390 East Taylor street for $5000. C. F. Wagner bought from H. H. Steinforth a 12-room double house located on Water street near Oibbs street for $4500. A.. J. Momsell bought' a small cottage at 239 Bell avenue. Archer Place, for $8o0. In addition to these sales or improved property a number of vacant lots were fold through the same office. K. C. Baker bought three lots in Santa Rosa Park from Thomas Hatch for $400. J. W. Thurman purchased three lots In Fairmount addition for $475 ana ir. Ney Churchman bought four lots in the same addition for $600. C. A. Cutberth bought from J. W. Fletcher a lot in Lyon's addition for $750. Mary Criteser secured a lot in Albina Homestead from J. H- Fletcher for $850. R. F. Parker houifht a lot in Southern Portland from George Selkirk for $950. H. P. Nelson bought a lot in Spanton's addition irom W. A- Pinney for Z0. Two deals in farm lands were re ported. One was the sale of. 20 acres on the section line road near Rockwood Road for $5000. This property was bought by L. A. Harned from J. H. Johnson. Lot 5 In Vance Tract, con sisting of ten acres, was bought by J. H. Reed for $1750. This property is lo cated on the. Section Line Road. .VAREHOUSE IS PLANNED PAGE INVESTMENT CO. WILL BUILD ON BELMONT. Two-Story Buildingr Costing $40,000 ' Will Bo Erected at Once on Quarter Block. The Page Investment Company, which has recently had two fine buildings started on the East Side, will now start the construction of a large warehouse on the quarter block owned by that company at the corner of Belmont and East First streets. The plans for this building are now at the City Hall In the Building Inspector's office, and a permit will shortly be granted and work started. This building will be 100x100 feet in size and will be two stories high with a full concrete basement. It will be constructed on heavy piling and the footings, columns and supports as well as the walls will be heavy enough for additions to be made later. The walls will be exceptionally heavy and the building will be designed for carrying the heavier class of freight. Work will be started In the near future. The structure was designed by Architects Bennes, Hendricks & Thompson. It is one of the many fine warehouses now be ing projected for the East Side business distriot, and the cost is plaoed at about $40,000. The building will be of mllL or elow-burntng construction. OTIS COMPANY BUYS Site at Thirteenth and Stark Brings $51,250. FINE BUILDING' PLANNED Great Elevator Concern Chooses Portland in Preference to Se attle as Location for North west Branch Office. Another big 'deal has been made in the rapidly developing business section In the western part of the city. The Otis Ele vator Company, one of the largest ele vator manufacturing organisations In the world, has purchased the property, lOOx 80 feet in size, located at the southeast comer of Thirteenth and Stark streets from Mrs. George Alnsworth for $51,250. The sale of this property was made through the agency of Charles K. Henry. This property will be used as the site for the Pacific Northwest headquarters for the Otis Elevator Company. This company was induced to come here in competition with Seattle, where a site was also offered. The advantages of Port land as a desirable location were fnrcl bly' presented and the deal was finally closed for the Portland site. The location will be Improved at once with a handsome building for the com pany. A six-story building is planned at present, but these plans may be changed. Here will be located the storerooms, dis play rooms, general offices and sub-factory of the company. No attempt wilt be made to manufacture the elevators here, and the factory will be rather for putting the elevators' together for delivery in the city. The entire property will be oc cupied by the biff corporation which is coming here. The property Is at present covered with an old barn which has already been con demned. Linn's Addition Residence Sold. The H. C. Behnke Company has sold lots 5 and 6, block 3, Linn's Addition on Stephens, near East Thirty-ninth street, to W. H. Hofacker for $3700. These lots are improved with a residence, which will be occupied by Mr. Hofacker as a home. J. B. Powell, recently from bt Louis, Mo., purchased a lot on East Thirty-seventh street, near Hawthorne avenue, for $1050. A residence will be erected on the lot. Turkish batiis, Mrs. Turney, 221 Drexel bldg.. 2d and ramnui. Fire-Place Appliances and Tile Mantels We have everything for the home in fireplace appli ances and tile mantels. We carry the highest grades in, tiling and assure satisfaction. Portable Stand Lamps The largest selection in town of magnificent stand lamps for gas or electricity. We have many suitable sug gestions for Christmas. Walsh Co. 311 STARK, NEAR SIXTH ST. Both Telephones PHOENIX IRON WORKS Eafflaeera, Founder, Machinists an Boilermakers, Buildlna; and Structural Work. WE MAKE Fire Hydrants, Log Hanla, Cast Gun, Hydraulic Giants, Water Gates, Lumber Trucks, etc HAWTHORNE AVE. AND EAST THIRD PORTLAND, OR- M.J. Something Tangible Something Real Fire cannot destroy it. A tornado cannot blow it away. It cannot be stolen. Most of the great for tunes of America were made in Real Estate. A bit of soil the firm earth the solid ground. We can set our heels into the ground and say ;This is ours." The man who pur chases a lot in Portland thinking to double his money next week or next month, is certain to meet with disappoint ment, but he who buys a lot in ALAMEDA PARK NOW, and hangs onto it for a year or two, is sure to double his$. money. See ALAMEDA PARK. Compare low prices with prices in j other adjoining restricts ed districts. ' Broadway car line be ing extended to Alame da Park. You cannot duplicate low prices and easy terms anywhere in Portland. Prices will be advanced $100 per lot by-Christ- mas. Sixty feet aboveJrving ton. Alameda Park the near est beauty-spot to Port land's business center. See Alameda Park Write or telephone us; to go and see for your-.; self in our car. ALAMEDA LAND CO. 322 Corbett Bldg. Phones: Main 7958 A 3651
