| Show IMMENSE DEAL CONCLUDED IS I IN SYNDICATES SYNDICATE S PURCHASE OF METROPOLITAN HOTEL EL CORNER CORNERS S S SI ff i d df dF dv dt J I 4 t 5 5 S f F t t v S r S Vi Vic c 5 4 I 1 I t I a Property at tat Third South and West Vest Temple purchased by dollar dolar corporation which will make makee extensive e improvements The biggest real estate deal eal in Salt Sal Lake since the famous Newhouse coup of or two years ago has Just juit been con concluded concluded chided in the sale of ot the Metropolitan hotel corner Third South and West Temple streets The purchase price is announced as about The big deal has been completed by bya a syndicate of Salt Lake bankers mining and real estate men m n associated with whom is a prominent Butte Butt capi capitalist capitalist capitalist who Is about to remove remove here to tomake tomake tomake make his permanent home They have formed ormed a corporation to buy bu the cor corner corner corner ner and make extensive improvements ments which will mark a new nes ne era for tor that section as a portion of ot the busi bust business business bustness ness center r The articles of ot incorporation tion of or the new company compan are drawn up and will be filed flIed In a few rev days un under under Under der the laws of ot Utah That the consummation of this deal will mark another important step yet et in the southward movement and growth of the th business section of the city is considered ered certain It will willbe willbe willbe be an immense boost for tor realty in that vicinity and will inaugurate a number of business structures Which are ar soon soon to spring up there 1 The purchase of the Metropolitan e ho tel corner is III only the first of or a num number number I ber of ot big deals which the corporation which was formed for tor large operations In realty will Put tut ut through Negotiations Negotiations are now under Way ray 1 for the pur purchase purchase purchase chase of ot several other otner valuable al able cor corners corners corners ners which are ar are to tOl be Improved for business purposes t t The Metropolitan ln cornet cornel is known as the th Judge dge Hallett Hall HaU tt property Over Oe two years ars ago It was brought from Judge Hallett by a party of ot Los Angeles Angel s capitalists who in turn have hae just disposed of ot it to the Salt Sail Lake syndicate The deeds have been signed and the final formalities of ot the transfer await avalt only the completion of ot the printing of the stock and bond eec certificates certIficates which are now in the hands pr Df a local lithographer The new company compan of Salt Lake pur purchasers purchasers purchasers chasers is capitalized at aF and options bave been secured on other strategic corners comers The hotel is a substantial structure ture and the present preen walls will be retained in tl tIe tle e extensive improvements which are planned for that property t v I IThe IThe The property faces south and nd nr est estand st stand and includes besides the Metropolitan hotel five stores on Off Third South and three stores on West Temple street It has a street frontage of oC 16 feet on Third South and 17 11 1 feet teet on West Vest Temple T mple The one Story stor structures will be iorii Lorn down to tomake tomake make room for tor or the improvements The enterprise has been worked out only anly in a general way yay as as yet but it ls l planned to attract a number of ot date mercantile establishments est there when the buildings are re ready for Cor occupancy occuPancy ocCupancy pancy The Th principals of the tile deal are areke ke keeping their r names ii mes in the background until n the filing of or articles of incorporation tion lion lionAs As a vivid illustration of ot the remark remarkable remarkable able bl advance In real estate values In that district It is recalled that J T D Wood and F J S Hagenbarth took an option on the property about a year ear ago for They defaulted on the tile option because another big deal In which they were Interested failed to togo togo togo go through It is believed bell Ved that the announcement of or this big transaction will result in an immediate start on the erection of other big buildings which re planned for Cor that vicinity It is known that pro projects projects projects for the erection of ot buildings nearby have hae been under consideration for tor sortie s the time and the foundations for forthe forthe the building to be erected across ss the street by b bythe the Peery estate were com corn completed comPeted last year ear |
