Show PROPERTY DESIRED BY U S GOVERNMENT I HAS ADVANCED IN VALUE AT RATE THAT I SPEAKS VOLUMES FOR SALT LAKE LAI REALTY I 1 S S i I tr I IS b i S S I 1 I I Ic c L j I I I I It t I T I I I 1 i i i i ii I EI T t 3 1 I 5 L S S SI I S Sv v fl w S 4 0 C t 5 x J L Lw 55 w C i 5 5 S S S c S 5 S SS S S o oc oS c S 5 5 5 5 S SS SS S r S 4 55 I h S S 5 5 5 S S 5 5 5 5 5 s s 1 S 5 S f S Ir If I the foreground is shown the site of the proposed addition to the Federal Building which is held by the owners at 1500 per front foot Condemnation proceedings are now In progress in the Federal Court 5 Authentic figures showing the in increased increased creased values of Salt Lake realty are more than astonishing they are stag staggering gering The abstract of ot title of ot prop properties properties properties in the business district show in increased Increased Increased creased valuation which Is incontro incontrovertible and the influx of both eastern and western capital has followed the study of these figures by careful in investors investors Men Hen who were looking for sure and certain investments jumped at the chance presented by Salt Lake Lale real estate and property In the busi business business ness Hess portion of this city elt is regarded as the most of security among financiers throughout the whole coun country country try tr Increase in valuation of 1000 per cent in the last decade has been recorded In more than one Instance and ancl the devel development development development of oC the business dis of the city has but just begun In n the last year and a half property pro pert on Main fain street has more than doubled in value and prices which would have been con considered considered considered ridiculous a year ear and a half haIr ago are arc ar being paid without a question by b capitalists who have investigated conditions and have foreseen the future of the city cit citOne One instance of an increase in valuation valuation valuation tion of 1000 per cent has been shown by b the property adjoining the federal building on Postoffice Place shown in inthe Inthe inthe the accompanying photograph The figures given concerning this property are arc taken directly from the abstract of title and are incontrovertible This Is i ithe the property which is desired by b the government as the site for the addition to the Salt Lake Luke postoffice Series of Transfers The abstract of ot title to the property shows the following series of or transfers In 1895 a mortgage e on a portion of this property was foreclosed by Aaron Key Keyser Ke Keser ser and the property was bid in by b him himat himat himat at the marshals sale for the sum of per front foot It was held by Mr Ir IrKe Keyser Ke ser until 1906 and returned him an adequate Income not only ono on the original origInal origInal inal cost to him but on its increased valuation On Feb I L 1906 the property was sold by Aaron Keyser to Robert B Harkness and the Salt Lake Se Security security Security Trust company the price paid being bein per front foot footo In April 1906 Robert B Harkness and the Salt Lake Security Trust company compan added ad ed to the property an adjoining block of or ground purchased from A Fred Wey Vey Weyand Weyand and associates and sold the entire block of ot ground measuring feet to Charles H Deere a multimillionaire plow manufacturer of Mohine foline Ill II for tor per front foot In October 1906 Charles H Deere gave an option on the property to M 31 I B Lichtenstein for tor per front foot Two months later Mr Ir Lichtenstein exercised his op option option option tion and the deed to the property passed from Mr 11 Deere to him A few te weeks later the property was sold by Mr 11 Lichtenstein to t R fl B Miner jr a Missouri capitalist for per front foot Mr Miner liner only held the prop property property erty ert until May 1908 when he trans transferred transferred ferr the deeds heeds to the property to the Miner finer Building company a Utah cor corporation corporation W P S Hawk superintend superintendent ent of the Postal Telegraph company at Salt Lake the Western Investment Trust company compan J W V Houston and amI amIC C W V Johnson E H of or Salt Lake the consideration being 1000 per front foot Ask 50 Per Pcr Cent The property is now low held hed by b the par parties parties parties ties named in the last transfer who are asking of the government an in increase increase increase crease of 50 per cent ent on the purchase price paid by them or 1500 per front foot The present owners say they are arc not desirous of ot selling the property but butare butare butare are compelled to sell it to the govern government government government ment The property is held to be practically practically practically a corner having front frontage frontage frontage age on Postoffice Place and eastern frontage on Postoffice court which gives a view oh on on Main street and ample advertising space Occupied as asit asit asit it is i at present by only a onesto t building the property at the present time according to o its owners Is bring bringing bringing ing In an income of 4 per cent on the price asked the government The property afforded Mr lr Keyser a profit of 73 75 per cent in eleven years in addition to the sum accruing from rents during that time It afforded Robert B Harkness and the Salt Lake Security Trust company a profit of per percent cent In less Jess than three months It afforded C H Deere a profit of 30 per cent in less than one year ear l It If af afforded afforded a forded N B Lichtenstein stein who handled it on a margin and option a profit of ot 10 per cent In less than three months and to Mr Miner a profit of 90 per cent in less Jess than six months In a Boom Neighborhood The increase in valuation In this neighborhood is not confined to this particular piece of property by any means The fhe property purchased by Samuel Newhouse in January 1907 cost Mr Newhouse between and He gave a single check for one portion of the property for The average cost of the prop property property property erty fronting upon Main street was In Inthe Inthe inthe the neighborhood of ot 1500 per front foot Mr Ir Newhouse will have expend expended ed approximately apiece on the two Newhouse buildings when they shall have been completed Today the Main Iain street frontage owned by Mr Newhouse alone is valued at more than per front foot The in increase Increase Increase crease in valuation has given to Mr Newhouse an Increase of per cent and the increase In the value of ot the property will have practically reimbursed reimbursed reimbursed him for the money expended upon the two buildings before they are ready for occupancy The property now occupied by the Judge building has in increased increased creased crea d in even greater ratio A por portion portion tion lion of the property adjoining the Newhouse holdings on the north has been held by b the O 0 OJ J Salisbury estate for many years and shows an enormous percentage of profit The remaining portion of the ground which h will be covered by the new Salisbury building was purchased by b O 0 J Salisbury in 1906 just prior to the boom which fol fo followed followed lowed the acquisition of the Newhouse property for 1100 per front foot At Atthe the thu th present time the entire Salisbury property Is valued conservatively at atmore atmore atmore more than per front foot It has been definitely decided that the SaIls Salis Salisbury bury but estate will construct a fireproof office building on this proper tv immediately |