Show DAYS BAYS D YS REALTY REAL TV DEALS B REACH OF mill MILLION Tremendous Transactions in Salt L Lake Property Closed Yesterday by Cigar C Company and arid Others leases on the two best business corners involving payment of about sales of business property involving nearly the sale of residence property in Brigham street for and an announcement announcement announcement of plans for the immediate te erection of an apartment house in Hillside avenue to cost make up a part of yesterdays activity in Salt Lake real estate In taking leases on the Kenyon hotel corner corner and the Godbe Pitts Fitts drug store corner the United Cigar Stores company comp of New York invested more than million dollars in Salt Lake real estate yes yesterday yesterday yesterday These leases l ases which extend until 1990 or 1995 are regarded as virtual purchases of the property Architects for the United Cigar Stores company are already working on the plans for improving the buildings and the lease lea e on the Kenyon hotel building provides that the United Cigar Stores company shall within the next eight years rears erect an immense skyscraper on the site of the Kenyon hotel which will cost in the neighborhood of The lease for foi 85 8 years as exclusively published hed in The yesterday was completed by Edward Wise Vise vice president of the company in charge of its real estate department who tho arrived in Salt Lake last Saturday F A Whelan also a vice president of the United Cigar Stores company and chief architect for the concern Is also In Salt Lake engaged on plans for al alterations alterations and improvements to be made on the real estate which has been ac acquired acqUired acquired by the company The Kenyon hotel property has a frontage of feet in Main street and feet in Second South street and most of the block has a building of five sto stories stories stories ries The upper floors are all under underlease underlease lease l s to Don Porter as the Kenyon Ho Hotel Hotel Hotel tel company this lease runs until 1917 There are 13 store rooms on the ground floor of the building facing on Main and Second South streets besides the lobby of the Kenyon hotel and the Kenyon buffet These two rooms are included in the lease held by Mr Porter but the leases lease on all of the other store rooms in inthe Inthe Inthe the building expire within a period I ranging from six to ten months n I Lease for Long Period The leasing of the property which is regarded in the light of a purchase se by reason of Its being for more than three quarters of a century was In line with the established custom of the th United Cigar Store company to obtain the best business corners in every city where they operate stores and when necessary they buy bur or lease the entire business block in order to get the orner corner location for a retail store Edward Wise vice president of the company said yesterday that until he stopped in Salt Lake to make a casual visit on his way to the coast a few months ago he had no idea that the com corn company company pany would enter this field fi with retail stores He said Enid the reports of Salt Lake received In the east e had been adverse to the city and state and in these reports that had been circulated by the enemies of the state there was nothing to en encourage encourage encourage courage investment of eastern capital here When I stopped in Salt Lake I saw that these impressions were all wrong said Mr Wise last night Salt Lake impressed me as one of the coming corning cit cities cities ies lea of at the country and an excellent field fi Jd for business Investment and an we decided I immediately to enter this field Our present store in Second South street Is not lot in an especially desirable location for a cigar store but its Immediate sue suc success cess ces brought about our decision to es establish two of the finest cigar stores in inthe Inthe inthe the United States in Salt Lake We have taken longtime Ume leases on the Kenyon hotel property and the block at the ilie southeast I corner of Main and First South streets The lease on the corner now occupied by the Union Pa ticket offices expires In six months and the day it is vacated w will begin our Improvements im This store win will be beas beas beas as fine tine as any cigar store fn 1 the United ContinUed on Page 2 h DAYS DA YS REALTY DEALS REACH OF A MILLION DOLLARS Continued from page 1 1 States not excepting those in New York or Philadelphia P The Drug company has hasa a lease on the other store room which runs for tor two years yet et but we are In hopes dopes of completing arrangements with the drug store people which will allow I Ius us to take a part of this corner room I and fit it up as a cigar store in the near future Employ Salt Lakers I In opening our stores here we shall shaUl employ Salt Lake men who will be under un under under der the direction of a resident manager who is acquainted with our methods of ot doing business Mr loIr Wise declined to give any of the details of ot the leases which he has taken on the two buildings He said that no decision regarding the renewal of the leases eases would be reached until the archi architects architects of at the company had completed their plans for toc remodeling the building The Union Pacific and other Harriman lines Ines which hold the corner room In the block are the oldest tenants in the build building ing ng having been In that room for 21 years Oscar Groshell who has the south store storeroom storeroom storeroom room in the building in Main street Is next lext in seniority Next month he will have lave been a tenant for an even 20 years The Harriman lines will try to obtain a location near their present offices al although although though it is settled that they will have to give up the corner comer room on April 30 Other tenants in the Kenyon hotel are Rich Sons clothiers Model barber barbershop barbershop barbershop shop Bryce Drug company M H Desky Desly clothier the Felt Lumber company Peters Pet Peters Peters ers barber shop and the Mint saloon It Its ItIs Itis Is s believed that most of these tenants will willbe willbe be able to gain new leases Oscar Gro Gre Groshell Groshell shell agent for the National Cash Reg Ister ster company will move to his new building at State street as soon as it its itIs itIs Is s completed The Kenyon Kenon hotel property Is owned by the Salisbury company the corporate name of ot the O 0 J Salisbury estate The building is owned by Mrs Karl A Scheid and Mrs Flora K Woodruff Wood Woodruff ruff rut Although the long term lease is the common method of acquiring property in cities clUes of at the east and middle west and it itis ItIs itis is also common In San Francisco It Is a anew anew anew new feature In real estate trade In Salt Lake The Callaway Hoock Francis building however is erected on groUnd gr leased eased for fifty years and on terms where whereby whereby by jy the building and Improvements revert to the owners at the expiration of the lease ease It is believed that in the lease of ot the he Kenyon hotel property to the United Cigar Stores company there Is a whereby the skyscraper sk scraper to be erected by the he company will revert to the owners of 0 the land In 1995 on payment of an ap appraised appraised appraised praised valuation of at the Improvements Other Big Deals Real estate deals Involving business property In Main and First South streets street and a flat site in Brigham street the three transactions Involving con considerations considerations of ot more than Were completed yesterday The Main street property Is that occupied by y the Vincent Shoe company with a frontage of ot 14 H feet on Main street and a depth of at 13 feet This was bought by C C Roberts for tor Mr Roberts sold eold the property at the corner of Broadway and First South Sonth street to the Western Loan Savings company for This property Is On n the he east side of ot Broadway and includes of the corner comer building and the ground With this sale was the transfer of a right of way through Broadway which was sold to L H and J A Young of ot the Young Young company John Lloyd sold a lot rods Ing ng No to 23 Brigham street to Ellen stewart for There are two large houses louses on this property and Mrs Stew Stev Stewart Stewart art plans the erection of an apartment building on a part of the lot in the near future This apartment will probably cost In the neighborhood of Oooo Plans for tor the finest theatre in the en tire ire west are being considered by local capitalists in connection with the he Shu bert company and within a few tew days a decision will be reached as to the location of the new building It is probable that the he site selected will be on the northeast corner of at Main and Fourth South streets on the lot just south of the Newhouse building Plans for tor this theatre are now In n the hands of ot a local architect who ad admitted admitted admitted that they were being considered but said that inasmuch as the deal had hadnot hadnot hadnot not been be n definitely closed he could make no statement regarding them Another site that Is being considered for tOl the he theatre is a lot In East Second South street between State and Second East streets owned by A Fred Wey Weyand and W J Halloran It is certain that this lot will be Improved in the near future and In n case the theatre goes to lower Main street a garage may be erected on the Second South street lot For Apartment House Plans for the erection of an apartment house louse on Capitol hill hili to cost by b Mrs Carrie Moore Gray wife of at Lionel Lionet H Gray Gra have been completed and work will start as soon as the grades have been established by the city engineer The I project became known through a petition from Mrs Gray to the city council asking for tor the establishment of grades on Hill Hili Hillside Hillside side avenue and Gray avenue Mrs Gray said last night that the foun dation will wm be put In this fall and every thing made ready to start the building early next spring The apartment build building buildIng building ing will be erected at the corner comer of ot Gray avenue and Hillside avenue These streets lie He between Main and State streets and First North and Second North streets Plans for tor the erection of the structure are practically completed and contemplate one of the largest flat build buildIngs buildIngs buildings Ings in the city It will be about six stories high and of ot the most modern type 11 e eThis This part of Capitol hill hili Is growing up fast tast and the erection of the apartment house will add a new impetus to residence building in this part of the citY |