' THE SUNDAY. OREGOyyAX, PORTLAND, DECEMBER 12; 1909.
BIG REALTY DEALS
FEATURE OF WEEK
BIG DEPARTMENT STORE PLANS TO OCCUPY PALATIAL QUARTERS,
Trading in Business Proper
ties Makes Decided Ad
vance in City.
MANY BUYERS IN THE FIELD
Lease of Fifth-Street Half Block
for Llpman, Wolfe & Co. Is of
Prim Import Many
Other Deals Made.
Last week was an active one In local
real estate circles with many large deals
consummated and rumors of other large
deals about to be closed. Paramount In
the transactions of the week Is the con
summation of the lease by Llpman, Wolfe
& Co. for the half block on the west side
of Fifth street between Washington and
Alder streets, as a site for a handsome
now store building, to be from eight to
12 stories high, of steel and concrete and
one of the largest and handsomest struc
tures in Portland. Here for 20 years will
be located the big store and the move to
this location will do much toward estab
lishing Fifth street as the great retail
center, with the Meier & Frank store lo
cated permanently Just across the street.
But this lease was by no means the only
Important transaction. Interesting among
the deals of the week was the purchase of
the half Interest in the two lots at S'xth
and Ankeny streets by Russell & Blyth
on a basis valuation of J13S.00O; the sale
of a half interest in the lenae held by W.
H. Alorgan at Fourth and Alder to W.
A. T. Bushong: the Kaseburg purchase of
a lot on Upper Washington street
at $23,000, the sale of a . lot
at Thirteenth and Flanders streets
to an unknown investor for J36.000; the
purchase of a quarter block at East Bel
mont street and Grand avenue by J. G.
Kdwards for 3o,000; the purchase of a lot
at Fast Eighth and Belmont by J. & C.
Muckle for $17,000; the purchase of a lot
by tho Swift Packing Company for 133,000
at Thirteenth and Glisan streets, and nu
merous other deals over the $10,000 mark.
One big platting proposition was
launched this week, the opening of a new
addition in East Portland to be known as
Eastmoreland. Here 400 acres are to be
placed on the market as a high-class resi.
dence section. The property Is a part of
the old. Ladd farm.
There has been, in addition to the many
sales, a large amount of Inquiry, no little ,
speculation as to tho effect of the move
ment towards establishing a Civic Center,
and evidence all through of large sums of
money to be Invested in Portland realty
rs well as In the erection, of handsome
structures In, the city.
Announcement was made last week
that W. It Morgan, contracting archi
tect, has sold a half interest In the
lease of the quarter block at the north
west -corner of Fourth and Alder
streets to W. A. T. Bushong at a figure
which will show a profit on the lease
to Jlr. Morgan of a trifle over $75,000
for the entire Interest. Mr. Bushong
and Mr. Morgan will now jointly build
an office and store building on the
100x100 feet, starting work on March 1.
Mr. Morgan promises to break' all rec
ords ever made In Portland In the
speed with which this structure will be
completed. It will be finished within
three months by the use of night and
day shifts, the night shifts working
under electric light.
An Interesting story Is told In con
nection with the lease held by Mr.
Morgan. About two months ago he
secured a lease from the Wiley heirs
on a basis of $1500 a month rent for a
term of 30 years, $750 a month, how
ever, being all that was required for
the first six months of the lease start
ing on March 1. Before the bonds had
been signed the owners of the property
had realized that a lease far below the
market value had been given and an
attempt was made to stop proceedings
by demanding a bond which would
guarantee the rental for a full ter.m of
30 years. This was, of course. Impos
sible and considerable trouble was en
countered, but the deal was finally put
through on a regular form of bond.
The value of the lease is shown from
the expected return of $2500 a month
from the ground floor alone. If a
building costing $80,000 is erected on
the property and the full rental from
the entire structure is but $3000 a
month net. or $:i,000, the Income from
the $80,000 Investment would be 22
per cent per annum. Mr. Morgan ex
pects the return to be approximately
along these lines. The lease has not
been sold to Mr. Bushong, but a con
tract to sell has been given, owing to
a clause in the lease which prohibits
selling until the building Is erected.
Mr. Bushong will provide one-half the
money for the erection of the building.
A deal in downtown business prop
erty was announced last week In the
sale of the half Interest of a triangular
strip containing two lots at the cor
ner of Sixth. Ankeny and Pine streets,
on a basis of valuation of $135,000. The
half interest of J. N. Teal and Allen
Lewis in this property was sold to the
real estate firm of Russell & Blyth
for $67,500. Russell & Blyth already
owned the other half Interest and now
are the sole owners of the property.
Building announcements for this prop
erty will be made .when Mr. Blyth re
turns from the East about the first of
the year. In 1904 the entire property
was sold for $37,500, the property hav
ing increased in value at the rate of
51! per cent per annum for the last five
years.
Another deal which will result In the
erection of a buildln$r was consum
mated last week In the purchase by
Swift & Co. of a single lot at the
southwest corner of. Thirteenth and
Glisan streets from E. Helmer for
$23,000. The deal was made by Spanton
& Co. and by H. E. Rlner. Swift & Co.
will remove the present improvements
and will put a smokehouse and storage
plant for hams on the property.
An unknown - purchaser bought a
quarter block at the southwest corner
of Thirteenth and Flanders streets
from George W. Jones last week for
$36,000. This Is partly Improved with
a two-flat building, an eight-room
dwelling and an old cottage. The sale
was made through the agency of 13.
Parker Bryon & Co. working in con
junction with another realty firm
which represented the buyer.
A sale on Upper Washington street
was made last week in the purchase
by J. R- Kaseburg of the lot 73 feet
square at the northeast corner of
Washington and Lucretia streets from
P. Morton Colin. The consideration was
$25,000. This property was bought as
an Investment and will be Improved
later. The sale .was made through the
agency of Ed. J. Daly.
The rapid Increase of East Side
realty values wu shown last week, la
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PROPOSED EICHT-STORV STRUCTURE TO BE BUII-T OX FIFTH STREET, BETWEEN WASHINGTON AND AI DER, FOR LIPMAX, WOLFE A
COMPANY. .
the sale of a quarter block at the
northwest corner of Grand avenue and
Belmont street to J. G. Edwards of
Hay Creek, Or., for $35,000. The prop
erty was owned by E. J. Daly, R. B.
Sinnott and Dan J. Malarkey. It is
now vacant but will be improved. The
quarter block Is one of three bought by
Messrs. Daly, Sinnott and Malarkey
three years ago for $65,000. The two
other quarters have already been sold
at $35,000 and $41,000, respectively, and
this sale brings the total return to
$111,000 from the $65,000 Investment. .
James and Charles Muckle have pur
chased three lots at the southwest cor
ner of East Eighth and Belmont streets
from W. H. H. Morgan for $17,000.
The comer is Improved with five cot
tages and "'as bought as an invest
ment. The sale was made through the
agency of Leonard Brothers,
M. S. Boss, chief of construction for
Twohy Bros., has purchased a home at
East Eighteenth and Wasco streets
from B. B. Rice for $8000. The sale
was made through the agency of the
H. P. Palmer-'J ones Company.
Van Duyn & "Walton have sold for
Charles H. Williams a lot, 40x100, on
Eleventh street between College and
Jackson to a local architect for $4500.
At present there is an old cottage on
the property which will be removed In
the Spring and will be replaced with
a modern apartment house.
Mrs. Sarah Henderson has bought a
lot 78x90 feet In size on Union avenue
near Alnsworth street for $2200. It
was bought from Rudolph Haysink. On
the same street P. T. Hall bought from
Joseph Brooks a lot between Skidmore
and Presoott streets on Union avenue
for $2750. Both properties were bought
as an investment and through the
agency of Goddard & Wledrick.
PRICES ARE GOOD
Many Fine Structures Erected
on East Side.
UNION AVENUE ACTIVE
Numerous Real Estate Deals All
. Over District Indicate Values of
Properties Cook & Lieth
Building Is Finished.
The three-story brick' building, 100x90
feet, erected on the corner of Grand ave
nue and East Stark street, by Cook &
Lelth, has been completed at a cost of
$45,000, and la one of the-most attractive
structures of the sort on the East Side. It
has been faced on the Grand avenue and
East Stark street sides with light-colored
brick, which gives the building a hand
some appearance. The main floor rooms
are well lighted with large plate glass
windows, while the two upptr floors are
filled with offices and apartments. W. L.
Morgan Is the architect and contractor
Of this building.
It Is the third erected on this inter
section, the last being the reinforced con
crete building on the northwest corner of
this intersection, which has just been
completed and is now being occupied. The
northeast corner quarter block secured
several weeks ago by Mr. Morgan and his
associates will be occupied with a modern
building next year. The owners have not
vet decided on the plans of this building,
but it will be a three-story modern struc
ture with basements, similar to the con
crete structure on the east side of the
street. Streets have been filled on two
sides of this quarter block, but the block
itself has not ben filled. When the build
ing is erected it will require a blanket
foundation as there is a ravine of mud
of unknown depth passing through this
block, but this condition presents no dif
ficulties that cannot be overcome.
That Union av(enue is destined to be
come a great thoroughfare from river to
river is considered certain. It has been
paved through to Highland now, and will
probably be improved on to Columbia
boulevard next year. It is considered cer
tain that the property owners will un
dertake the paving of the street. As far
as Highland It has become a business
street. At Klllingsworth and Union ave
nues William Reidt erected the first re
inforced concrete building, and now
others of the same sort are to be built.
. O'Shea & Co. will build on the corner of
Union avenue and Atberta street. Wilson
& Beery have just completed a two-story
brick on the corner of Russell street and
Union avenue at a cost of $25,000. It is
faced with pressed brick, and is one of
the best buildings erected on Union ave
nue. Emerson Brothers, who recently
purchased 100x103 on the corner of Union
avenue and Morris street, will cover the
quarter with a modern building. Emer
son Brothers are from (Montana. Jaeger
Brothers, who bought 75x100 on Union
avenue and Ainsworth avenue for $9000,
will remodel the building that now occu
pies the lot.
Mary Powell has purchased a corner
on Union avenue and Skidmore street for
EAST SIDE STRUCTURES ADD TO DEVELOPMENT OF GROWING DISTRICT.
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$10,000, it being occupied with a frame
store and office building.
O. B. Moores bought a lot on Union
avenue and Going street for $3000.
occupied with a cottage, and also 100x100
on Union avenue and Failing street, for
$12,000. The latter is occupied by a frame
store and office building. Mr. Moores re
ceived an offer 'of $13,500 cash for the
property, but has not accepted.
Bingham & McClellan have secured the
contract for the erection of the main
building of the Davis Safe & Lock Com
pany on the tract recently purchased
from the Kenwood Land Company at
K.enton. Work on the foundation has been
started. The main building will be 100x460
feet, and 100x100 will be two-story and
the remainder one-story with a full ce
ment basement. It will be built of brick
with a-eorrugated roof. The building will
be completed by February 10. It will be
one of the largest and most important in
dustries on the Peninsula, and will re
quire a large force of skilled operatives.
The growth of Kenton is remarkable. At
present it Is in a state of building, and
looks disrupted, but If an effort is made
to Tjurchase a corner for business pur-
popes the prices will be found to be $5000
and $6000 for a single lot. Next Spring it
Is estimated that the population of the
place will be 1000 or more. Every house
that has been completed is occupied and
those under construction are spoken for
long before they are finished.
While the contracting and building cdm-
panis are trying to supply the demand
for houses they cannot do so. Residence
lots sell from $500 to $1000.
An effort will be made to have several
of the streets leading to the Kenton dis
trict from Klllingsworth avenue widened
and improved In the Spring. Patton ave
nue. it is said, will be improved and be
made the principal thoroughfare extend
ing to the Kenton township. It is 100
feet wide. Preparations are being made
to grade Patton avenue in the Spring be
tween the Portland boulevard and Colum
bia Slough road. It is also expected to
extend Concord street through to Alns
worth avenue.
An effort Is being made . to locate the
Reed Institute on the W. K. Smith 55
acre tract, which is between Portland
boulevard and Patton avenue. Special in
ducements have been offered the commit
tee having the selection of the location of
the Institute in hand. The city is having
the Smith Park, recently purchased for
$C0.000. cleared. J. Brooks has the con
tract. He is cutting out the underbrush
and stumps, leaving the large trees stand
lng. It will be. In good condition next
year."
The F. S. Hallock Company has start
ed the" erection of a one-story building on
East Eighteenth and Alberta streets, in
Vernon, for Mrs. E. H. Jones. The build
ing will be 50x50, and will cost $3000. It
wlu be used for business purposes. . Mr.
Hallock also is erecting a six-room bun
galow 28x46 feet on East Eighteenth near
Alberta street for Mrs. Jones to cost
$2000.
In the Windsor Heights tract, on tho
Section Line road, Giebisch- & JopHn have
the contract for laying cement sidewalks
on East Forty-seventht Bast Forty-eighth
and East Forty-ninth streets between Di
vision and Clinton streets and have start
ed work. Eight new dwellings have been
started In this tract, which was but re
cently platted. Out of this tract 72 lots
have been sold for future homes.
BAKERY WILL BE BUILT
PLANS PREPARED FOR LARGE
EAST SIDE PliAXT.
Quarter Block Will Be Improved
With Two-Story Bread-Mak-ing
Factory.
Plans are being prepared by U. F.
Legg for a brick steam bakery build
ing which is to be erected at the south
west corner of East Seventh and Bel
mont streets by Bostach Brothers &
Klssling at a cost of about $30,000. The
building will occupy a quarter of a
block, 100x100 feet In size, and will
consist of two stories and a basement.
It will be started on February 1.
The plant will have a capacity of
50,000 loaves of bread daily. Mr.
Kissllng has recently returned from an
extended visit throughout the Middle
West, where he visited a number of the
large bakeries. ' All the modern bakery
machinery and equipment will be In
stalled in the factory.
The first floor will be devoted to
bread moulders, dividers and ovens.
Three large patent ovens will be in
stalled at a cost of $6000. The top
floor -will be used for the flour and
FUTURE
METROPOLIS
OF CENTRAL OREGON
Both Hill and Harriman railroads are rushing
the construction up the Deschutes canyon. Thou
sands of men are working night and day to com
plete the railroads that will bring the vast re
sources of the Inland Empire to the market.
OPAL CITY is situated at that spot on the
level tableland where both railroads first come
together on the same grade after leaving the
Deschutes Canyon.
OPAL CITY will be the junction point between
the electric road from Prineville and the Hill and
Harriman railroads.
OPAL CITY will be electric liglitetl by power
generated at Odin. Faces on the Deschutes River,
which will also furnish power. for the Opal City
Prineville electric railroad.
OPAL CITY will have an abundant supply of
Pure Water from artesian wells which are being
drilled and will have a gravity water system, the
reservoir being located in the foothills just east
of the city.
OPAL CITY will in all likelihood be the end
of a division on .the railroads, as it is the first
"slack grade" .the railroads can take advantage
of after leaving the Columbia River and where
plenty of water is obtainable.
FREE
MAP OF OREGON
showing routes and development
of the railroads in the Deschutes
Valley, and literature describing
Opal City.
WRITE OR CALL
LOTS
SOxlOO
STREETS 80 FEET WIDE
IS FOOT ALLEYS
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$5 PER MONTH
AMERICAN TRUST
COMPANY
CENTRAL OREGON INFORMATION BUREAU
200-204 Chamber of Commerce
dough mixing apparatus and also for
a steam heating room in which the
bread will rise. The basement will have
a ventilating apparatus and a heating
plant.
This structure will be used almost
exclusively for the manufacture of
bread. Little or no attempt will be
made to manufacture cakes, pies, etc.
All the facilities will be used In pro
ducing the greatest quantity of bread
possible 4n a sanitary manner.
L. B. Senosky has purchased 80 by 100
feet on the south side of Hoyt street, be
tween Twenty-first and Twenty-second
streets, from Dan McAllen, as a site for a
four-story modern brick apartment-house
which he will erect on the property start
ing March L 1910.
Stable Contracts IeU
The contracts for the erection, of the
Oregon Transfer Company stables were
awarded last week to El. E. Angell for
the carpenter work and to Q, Zanello &
GIFT LAMPS
Nothing else
pleasing as a
quite so
PORTABLE GASSTAND
LAMP
Out beautiful display is
worthy of your call. It's a
sho-wing remarkable for its
scope and effect.
Northwest Gas Equipment Co.
5th and Yamhill Streets.
Son for the masonry. This building Is to ;
be erected at a cost of $25,000 on the prop-:
erty owned by John Kiernan, on Kearney
street, between Sixteenth and Seventeenth
streets. The plans for the structure were
prepared by Knighton & Root, architects. '
THE SENTIMENT
accompanying a. gift is enhanced
by the usefulness and artistic
merit of the article.
Our showing of reading lamps
and fireplace furniture Is the
largest in the city.
J. C. English Company
Tiffany's Agent,
128 PARK STREET,