Image provided by: University of Oregon Libraries; Eugene, OR
About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (July 14, 1907)
THE OREGOfi - SUNDAY JOURNXl, PORTLAND, SUNDAY MORNING, JULY 14. 1907. 7 13 ST E Am frnm& L dp jTr3e Ii ' . . 'Tk h iySl I t;;4V$ it sal? -;ii f j LOOKING XOETtt v n if .. .1. f STEADY DEMAND FOR PROPERTY Call for Income-Bearing Keal Estate in Portland Is Greater Than Supply. SUMMER MARKET IX HEALTHY CONDITION Activity In Suburban Additions Han Bern Kept Within Bounds and No Harm Has Resulted Therefrom Buyers Plentiful. Among Portland's solid, substantial rest estats dealers, both Selling- agent and the investing public, the consensus of opinion Is, that the realty market is precisely where it ought to be. There is a healthy, steady demand for the right kind of property. In fact, the demand for good Income-bearing holdings, and those that may be made to pay a fai return, when suitably Improved, is much. greater than the supply. At one time, early In the year, con aervattve dialers feared that Portland was on the eve of a period of wild spec ulatlon. Happily, however, the con dltlons that seemed to portend such disaster have passed away and the threatened danger has disappeared, leav ing the market in that condition, which la by far best for the steady, substantial and continued growth of Portland, old at Reasonable Frloes. While Portland has had a number of suburban additions platted and sold out within the past year, this character .of realty activity has been kept within bounds and no harm has resulted there from. Nearly all of this '-property has been sold at reasonable prices on the monthly payment plan to investors who Dlan to improve their purchases with homes. Another healthy feature of Portlands suburban additions, is that without exception they are all either on, or within easy reach of, a permanent electric carllne, thus assuring the sta bility of values. Hundreds of persons from the dsy laborer to the office man with a moderate salary nave laaen ad vantage of the opportunities here of fered to mane ue xirsi siari on acquir ing a home. An inquiry among the realty firms, that handle these monthly and weekly V installment additions, brings out the X fact that in nearly every instance the inayments are Deing met as tney ran aue. faf firm that has probably handled the larltot business of this character re ports' hat out of 1,800 lots sold on the Installment plan In the past six months, less than one fourth of one per cent of the purchasers have failed to meet their payments promptly. Other firms do ing a similar business make reports equally flattering. 9 em and for Bestdences, The most active and insistent demand Just now in Portland property is for the better class of residences and resi dence sites. These purchases are for the most part being made by recent ar rivals. A notable result of this activity In the residence districts Is the general advance in values in all the better rest-, dence sections. - Choice sites on Port' land Heights snd In the Cedar Hill. Ardmore and King additions are selling at from 1125 to 1160 per front foot, while nearly any holding in these dls- 1 1 tyTlM:f.s$?& Sjrw I? s .Hf.,1. ; j I I ..', 111 ,.- --,7;.' . , f.'t . i' . If,;- . y7j AT ) f)f fVf - sa WsaaMu : - I . I tef!iiiiii i1 i.' v. - t; ,v I I - W C - J WTO t? 5 cEhLgBiFH SSsaSaUs RFJIdWCZ OF 6. TlBfTJC&fP&S. EAST ZLjEVZJmt AM WFZLDEfe tricts could have been had one year ago at from $75 to 100 a foot In the Twenty-third street district, scarcely anything can be had for less than $100 iipt font whllo r vear asro Inside lots there were held at $3,000 to $3,500, or $60 to $90 per foot. The same con ditions are noted, in the fsshionable Hawthorne avenue district and In Hoi laday Park addition and Irvlngton. KoUUnfa Sard ta Get. The most sought for property in Port nd and the most difficult to get hole of Is that In the heart of the business district This class of holdings has nearly all passed into the hands of per manent investors, who refuse to quote prices. A number of efforts have been made in the - past few months to buy hlsh class retail sites, with the result that owners almost invariably refuse to name a sellina figure. in lAin Angeles, Seattle ana omer pa cific Coast cities, it Is admitted that prices of all-classes of property Is weakening; this is notably tne case in outside property., while In a recent is- - .1 - -W 1 I fT.1 - . I . lie or mfl uii'Antii i,im. wib at' mission was made that it would be dif ficult to ..sell business property, now. for the price that It brought one year ago. The same condition is known to be true with reference to the ' high- priced holdings of other western cities. Very different Is the condition in Port land, where no property holder Is willing to sell his noidlng ror what it cost, much less would he consider making a concession. v. SELLW00D PROPERTY VALUES ARE'RISING Two good slsed sales of Sellwood property were closed during the past week, at prices Indicating steady ad vance in values in the southeastern part of the city. Peter Bartel purchased from C. W. Dart lots 17, 18, 1 and 20, block 10, Millers addition to Sellwood for $3,000. The property is situated on Park avenue and is in a district that is rapidly bulld- nc up with, a desirable class of dwell ings.. Lucetta Petros has sold to Silas Well born a quarter block on the northwest corner of Umatilla avenue and East Fifth street for $2,060. The property is Improved. GREAT GROWTH OF ROSE CITY Local Realty Dealer Predicts Quarter Million People Three Years Hence. "Portland is growing much more rap ldly than even its own citizens realize," said - H. W." Lemcke. the well-known realty dealer. "We who are in the busi ness of supplying homes to the home buying public, have abundant oppor tunity to observe the great strides that Portland Is making. If the geperal pub lic only knew the number of Inquiries that Our firm has-received, and is con stantly receiving, from men of financial stability who are seeking investments In Oregon, they would open their eyes in wonderment. Ana yet fornana is noi growing as it might be matte to grow n us people were imoueo witn inai supero blic snlrit that Is found in a few other Pacific coast cities. "Even the most conservative estimate will give Portland 260,000 people three years hence, and I believe it would be safe to add 50,000 to that number." CHINESE HOSPITAL FOR THE EAST SIDE A number of wealthy Chinese resi dents of Portland are said to be nego tiating for a half-block of east side property with a view of erecting a Chinese hospital. The negotiations have been carried on witn so mucn eecxacy that neither the names of the promoters of the enterprise nor the exact location of the proposed building has come out. but it has been definitely settled that sucti an institution win De built. The building will not be of an elabor ate design, but will be roomy and com Xortable. It Is further said that the mnese Denina tne venture are prepared to spend $60,000 in preparing a place wnere tneir sick countrymen may be treated by Oriental physicians in true Oriental style. Architect Williams, who is said to- be a great ravorlte with Portland Chinese, will probably be selected to prepare the plans. ENGINEERING WORKS TAKES UP OPTION Purchase of John Watt Acreage at Linnton, Means Erection of Large Plant There. -r The Columbia Engineering works took up its option during the past week on the John Watt place, which adjoins the Clark and Wilson mill at Linnton, an.l will, within the next few months, re move its plant from North Portland to its new purchase on the Willamette river. The Watt property comprises 188 acres and was ontloneri oil to the Columbia Engineering works for $40.000,r which is much less than the piace wouia sen ror today. it is understood that several oth-r large rvortn Portland manufacturing concerns are negotiating for sites in the lower harbor with a view to movlne incii ywiu. iiicin, jiib raci mat ample river and track frontage may be had along thei west bank of the Willamette is the cause of the threatened exodus of large plants to that district, j OUTSIDE INVESTOR MAKES GOOD BUY Secures Property at Southwest Cor ner of Fifteenth and Irving Stieets for $12,500. ST. JOHNS CITY L COM HAL IP Structure Will House AH Municipal Officials Is a Credit to Corporation. After a year of many trials, tribula tions and disappointments, the city of St. Johns is at last the proud possessor of a handsome new $15,000 city hall. All of the city officials from the mayor to the janitor have moved into their new offices. The history of the con struction of this building is full of vexatious delays. Early last fall the contract for Its construction was let to Youngerdorff & Son. who abandoned the half-finished building three months later, leaving for parts unknown. The council then took charge of the work and undertook to finish with day labor. This arrange ment proved both expensive and un satisfactory, and finally the latter part of April City Engineer C. L. Goodrich took charge of the work, since which time the work has gone on satisfac torily. The building Is a two-story structure of classic design in the Ionio style of architecture. The walls are of brick resting on a concrote foundation, 44 by 70 feet. The first floor contains the of flrefl of the mayor citv recorder, city attorney, city treaurer and city mar shal, besides a room for the fire de partment headquarters and a vault for records. The second floor contains the council chamber, 38 by 42 feet, a jury room and two committee rooms, in tne tiaKement Is a vault for all city records, a room for fire engines and apparatus and strel cells for city prisoners. The building would be a credit to a much larger city than St. Johns, and outside of Portland Is one of tnte hand somest city halls in the stste. WOODSTOCK ACREAGE BRINGS HIGH PRICE A new reoord price for Woodstock acreage was made last week, when Na poleon D. Gardner paid John Sullivan $6,000 for three acres In the Hampton Kelly Donation Land claim. This is nearly double the highest price hereto fore paid for acreage In that locality. Another hlsrh-nrlced niece of Sjcrenre that was aold last week was thre and one-half acres west of Piedmont, bought by Josephine. Squires from Anna C. Ed ner for $8,500. This niece will be sub divided and put on the market at an early date. MODERN RESIDENCES IN WALNUT PARK HEW BUILDING E CD 11 Negotiations Pending for a Large Structure at Fifth and Yamhill Streets. Mrs. Margaret F. Sonars, who re cently sold a 50-foot lot on Sixth and Taylor streets for I4S.0OO, has pur- c nosed six lots in walnut Park from W. M. KlUingaworth for $5,000. Mrs. Sollars is considering erecting hand some residences on each of the lota A large number of modern, up-to-date dwellings are going up In Walnut Park. The streets have been improved and I larked, cement sidewalks and curbing aid throughout the park. Negotiations are pending between G F. Adams, president of the Portland Gas company, and W. C. Aivord. repre senting the Falling estate, looking1 to the erection by the Falling estate of S six or eight-story building at the south-. east corner of Fifth and Tarn hill streets, v While the deal is in a tentative stats aav yet. it is thought that within two or three weeks an agreement wilt bev reached assuring the erection of the building. - 1 The structure lz built win cover a ouarter block and will be not Iessv than. six stories in height. . Pending the construction ox tne Build. . In? the gas company will probably oe cupy the two-story frame at the corner of Fourth and Yamhill streets, soon to be vacated by the Wella-Fargo company. The gas company' offices and sales rooms will occupy the first floor of th new building and probably a portion of one of the upper Stories. , ; ... A wan Had Trunk For traveling, is- what you need, peer less Trunk Co., 24a Third atreet. a? ri 1 j, iew Kesldeace at fcast Twenty-Serenm and Wwuer Street. ' . Charles K. Henry and son have sold to a Willamette valley investor the 50 foot lot at the southwest corner of Fifteenth and Irving streets for $12,500. The property belonged to Mrs. Kath arine McGrth and Is occupied by a amall dwelling-. , . . This aite Is within one block of the two-block purchase recently made by the Marshall-Wells Hardware company, and on which this company Is preparing to put up extensive improvements. Th entire district Is rapidly passing into. tne nanas oi large wholesale interests and will soon be built up with ware houses and sales xooras. -w ; -t n r-r r J-r-j"Wf-n jwy i yfiW'7jty'''ll"'ri,l',yw'yii(Wi a" i t-y-,-"!" )!! m v Wli"")lnyw" ll ' in mini 11. .- K ri. ' . ' ' etr Jr. V " ( I ii C " - 4 . J i,wmrr' WW1 "W 1 TIMBER LAND DEALER PURCHASES HOME HERE John H. Haak, the well-known timber land dealer, has purchased the handsome home of Edgar L. Lowell, situated on the western slope of Mount Tabor and fronting the Base Line road. The Low ell residence- waa built 'within the past two rears at a cost of about $20,000 and is one of the handsomest private homes in the city. . : The grounds, comnrlstnr six full eit-v lota, are beautifully terraced, the whole forming one of the show places in that portion of the city. Mr. Haak Mid S25. 000 for the property. It is understood that he will take possession at once and S ,,- y, j 4 V"4 t It f X ' njWiy U. jK U "SWT M Ht III W .liWllMmlinlilllnl- af.MM.il .1 tkt I 'tf il. -' T. . l I . . v : ' - t.w id- -illy I j r y xifXTl ' i7"'xi fj l A' " ' 4 . - - - km -r ' Steel Bridge Under Bsvwiny Uhs name, . .