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