The Oregon Daily Journal from Portland, Oregon • Page 22

SUNDAY PORTLAND, sltJND A V' MORNING, SEPTEMBER 9. 1007 1v. mmmt 5 i I i 11 -J rp.fini tr'- 'X -v vvj Ki yZm, 42i VwWtviJ yp.mfjiV.fil 1 ELEVEN Tn AMP ALDtK 5Tc5 nOLBROOK, LAneSOM-ttOTEU VEATHEKBCC CLUNG PAM1LY.U0TBL.ElLA STREET NEAR WA4HIKGTOH 9T 4 yiltu I 1 wMMi JKJ MJummjlMlIMlHJ ii "Ii If yss a Sis, -z- t. Ti i- 1,1,,.,,, I 233Ca5 VA5)11lGTON t5T5; BUILT. rr5.

UBW A VE 15T 1 r- 1 .1 ifl PBESlD IIB BISHOP BfiF II MUNI) nnurn Tn nnnTi iiini luiiitd iu ruKiLAiu rno finDc unTci I Ul lilUIlL IIUILLu experienced hotel keeper, who expects to open the hostelry about January 1. D. J. R. Wetherbee is erecting a handsome six-story family hotel on Ella street, near Washington.

It Is a splendid modern type of brick building, six stories high, and will cost $160,000 when ready for occupancy. structure la completed except for the interior finish, but it will probably Jse January 1 before It is opened to the public. Dr. C. W.

Cornelius ia erecting a six-story building at Park and Alder steets, the upper five, stories of which will be utilized for a family hotel. A well-known hotel man haa leased the build-Ing and will open the hotel about January 1. Other ew Structures. Mrs. Lena Welst has under construe- BUSINESS LOTS HOT JWBIE Down Town Property Too Good an Asset to Seek Market.

SPECULATION HERE IS LITTLE APPARENT Balk of Realty Transfers Are Resk dence Tracts iRTiero. Permanent Homes Follow Soon After Pur chasePortland Heights Active. jTha best feature of the real estate markat in Portland and all the country tributary thereto, is 4h absence of all spobulatlve tendencies. The announce-" tnent of a sale of vnlmproved property la almost certain to result In a new buildln enterprise, since more often than otherwise the purchaser's Intention 7 Is to Improve his new holding at the earliest opportunity. The quietness that prevailed through-it out tht months of July and August has riven place to healthy, active demand or good jjroparty for Investment poses- Or coarse, these statements 5 hsve direct reference to property within the extended business limits and that situated in me nlgn-priced residence rfj strict a.

In1 the aubucban dlatriata thMkre hundreds of lota unM of over $00 lots sold in one addition since the first of the year, but three buyers have so far failed to meet their contracts. Another brokerage firm reports the sale of 270 lots In an east side addition and not a failure by the purchasers to meet the monthly payments. All thla bespeaks boundless prosperity, and proves conclusively that Portland people regard Portland dirt as oeing as good as gold. SOUTH PORTLAND REALTY IS BOUGHT Unplatted Tract Southwes of Caruthers Purchased by W. B.

Daniels. i wo rair-sized sales were made in the South Portland district during the past weeg. w. B. Daniels purchased from James Surman an unplatted tract soutnwest of the Caruthers tract for $11,600.

Joseph Hlngley closed a deal for a 65xl00-foot lot at the corner of rorier ana Third Streets for $5,000. The property Belonged to Charles W. Nast. John O. Wptlft nurrhnuJ V.

In Fulton Park from John Denley! consideration $1,600. The aDDroachimr terurban line has aiven a aiaa petus to property values In flAiitn v. nV1m.be.r..?.f lot have been K-nnai nui survey in the past few weeks, and the if.J VALUABLE TRACTS SOLD DURING WEEK The old Honey man nrnnt southwest corner of Front and Colum- aoia. xne property belonged to Martin Rosenbaum. who Is now travellnsr in Fk rCf PTJ ia slvtn at but S.u "I vurcnaaer IS Withheld.

The transaction involving x. SL1' UiMSle Sam notel Property at Fifth and Couch atre. m.A. "i week by K. Henry A Son, was closed up during the past week.

The property waa purchased hv Un Tn of Washington county. The consideration Involved wa for and more, but the tendency was dangerous, and was looked upon with apprehension by many, and especially so by the financial Interests. Happily the Inclination to over-speculation is at an end, and curiously enough it was not brought about from a lack, of buyers, but because of a scarcity of sellera. Early in the oresent vear. it dawned upon Portland that property in this city was sening lor at least tu per cent less i nan me same class or nojmngs bringing In other Pacific coast cities.

The natural result was that it soon be came almost Impossible to get a price quoted on business property, ana oil classes of residence property was greatly advanced in price. This undoubtedly accounta in a large measure for the noticeable falling off in business property transactions. The fault is not with the buversv It la simply that the holders win doi let go. UtUe Property for Sale, All the leading brokers complain of me auiiculty or rinding a choice parcel which can be touched at toD market prices. This condition is especially true wim resara to improved business nron.

erty. while unimproved sites in the cen tral district are held almost as firmly. Some of the owners of choice unimproved or poorly Improved sites offer to lease tneir hold nas for a long term of years at fancy figures, but sell, they will not. Probably DO per cent of the dally transactions In realty are purchases or residences and residence In' the high-priced residence districts on the west Bide many valuable vacant, parcels are being taken over by prospective home-builders. It is no unusual thing to see a report of 110,000 having been paid for a residence lot.

while single lot sales of 15,000 to $8,000 is a common occurrence. A consequence of the high-priced residence sites is the large number of good homes now going up in Portland. There was never at any time so great a number of costly residences unaer construction in Portland. SCany Besldeaoe Being Built. At one place on Portland Heights there are three dwellines coins; ud witnin stone a tnrow or one another.

the combined cost of which will be between $75,000 and $160,000. In the dis trict north or Washington street, and west of Twentieth, there are a score or more of elegant homes in process of construction. In other fashionable dis tricts sucn as irvington. King Heights and Hawthorne avenue, the same con ditions obtain. In the suburban dis tricts, where many desirable residence additions have been placed on the njitrnev, wuiun uie past six montns, there is an active eelling market.

Tho brokers, handling this class of property, almost without exception report a largely increased demand alnee September 1. A gratifying feature connected with me opening up or Anese suburban ad dltions is the fact that purchasers of lots on ths installment or monthly payment plan are almost without exception meeting their payments and in many cases) anticipating tbeta, Put pf total Eastern Suburban Property No Comparison to Similar Tracts Here. Harry O. Beckwlth, managing tho Jacobs-Stine company of this city has just returned from an extensive east ern trip and is loud in his praise of Portland and Oregon, in comparison wun present conditions in tne east. "During the six weeks away from home I visited a number of the larger cities in Canada, extending my trin to New one city, xNonoia, Washington and Chicago." he and I am rank to admit that no section of the United States is so prosperous and so run or promise as the Pacific north west." "While away I made it a point to stuay tne conditions or tne cities and especially what was doing in the real estate line and it was easy to reach the conclusion that Portland Is by far in the lead of any city of its slxe in tne united states, vvnen i explained to New York people that we had something like 60.000.000 bushels of wheat back or us this year, told them of our vast timber wealth, of our wonderful irrigated sections and fruits, they were amazed.

"Of course I have found that many of them knew of Hood Rlvepand the great fruit industry there which demon strates to me that the advertising those enterprising people have done has reaped ana is reaping great results. "I visited a number of the suburban tracts placed on the market by east ern real estate men ana there Is no use denying the fact that Portland an. urban property is a 10 to one better investment. Tne aaauions to Portland are so much closer In, and so much more desirable from a realdenca ta scenic standpoint that pi ere la no com parison. RESIDENCE LOTS BRING BIG PRICE Dr.

Byron H. Chapman has Burchaaut from H. ii. Chase a tOxlOO-foet Jot in block- $6. King's Second addition, for 8.260.

The nronertv la lonated In. lh hlch-orlced residence district In tho vi cinity of Iiandra and Twan.tv.flra Rev. James Atkins Wil Hold Services Here Today. Bishop James Atkins, presiding bish op of the Pacific coast of the Methodist Episcopal church South, will occupy the pulpit today In the churph in this city which meets at 171 Second street. He arrived from Seattle last evening; with Dr.

W. F. McMurray, secretary of the Doara or cnurcn extension. Dr. O.

B. Wtnton, editor of the Nashville Christian Advocate, and Dr. C. X. Retd, superintendent of the missions on the Pacific coast.

While in this city the officials will inspect the organization here and "look after the progress of the handsome stone edifice being erected for the church on Union avenue. During the four-years the church has been under the pastorate of Rev. E. H. Mowra.

tha cnurcn nas naa pnenomenai growtn. It is wll organized, has a good member ship? and is erecting one of the finest cnurcnes in tne nortnweat. The building Will be one of tha tnoat beautiful in the city. The material for tne outer wails is gray sandstone. Tha interior will be divided into assembly rooms ana ntuis, oiiices ana reception rooms ana ds znoaern in every oarticu- lar.

i A large pips organ will be Installed and the tower will contain-a full set of cnimea. ATTORNEY BUYS RESIDENCE SITE United States District Attorney WJ rL Bristol has purohased a handsome residence site on the corner of Hanpack and East Twenty-first. The site embraces three and fraction, lots and was old by W. H. Colgate.

The con-elderation named In the deed Is $10, but the probable purchase price waa in tha neighborhood pf 16,000. Supply Has Been Wholly In adequate During Past Few Years. SIX LARGE FAMILY HOTELS N0W3UILDING i Structures of This Character More In Demand Than. Any Other-Construction, However, Not Keep lag Pace With City Growth. In spits of the fact that there are no less'than six large family hotels nearlng completion In Portland.

It le believed that there is urgent demand for several more improvements of this character, Hotel accommodations in this city have been unequal to the' demand for, ths past four or five years, and some lm provement has beenmade in the way of hotel building daring that period. It has, nothing 4. like kept tip with the growth of the city. The greatest need is for the strictly family hotel, one that does not cater to 'the transient' trade. One of the finest of this class of im- Srovements now going up here is the olbrook-Lamson building at the southwest corner of and Stark streets.

This structure is rapidly sub suming the appearance of a completed building. The walls are up the roof in place and a large force of mechanics ia engaged on ths Interior Will Oven mm Teav. The building Is six Stories high and reste on a full concrete basement, and will. cost when-completed about Messrs. Holbrook and Liminn tave already rented their building to an tton a handsome three-atorv brick hnlM.

ing on Twenty-third street, near Wash- Ington, which may probably be used for hotel purposes. On the southwest 1 corner of Mont gomery and Third streets, Edward Hoi-man Is just finishing a three-story frame hotel building which will be quite an addition to the hotel facilitlea rt south Portland. The excavation for the fnunitaHm. mo ten-story annex to tne Oregon hotel has been finished and tha let for the superstructure. This annex Is to be erected on Park street, between Stark and Oak.

At East Third and TCnat Tin.M. streets, E. A. Proudfoot ta nnffino- im a six-story reen forced concrete building. which was designed for a hotel.

This, with the Sargent hotel, will give the east side two very handsome hostelrtes. BUILD EIGHTEEN 4 HOMES IN ALBINA1? t. --'f. O. Priest, the well-known buUdf ing contractor, has taken out permits 1 frame residences IT- VJEYrAlblna' at cost of about $40,000.

On Castle street, between Shaver ana Mason he will crut story frame dwellings to cost $2,000 each: an rnlnnlal vr v-t r. mil X- MillllK iiuak I Shaver, five, two-stnrv frm. 1 $1,860 each; jon Castle street? between tl 1 Mason ana, Skidmore, three two-story frames at $2,000 uch mit rivnA boulevard, between Mason and Shaver, he Will erect a handanma fnm. dence to cost $6,100. Application vi iviu tii aora nmea "Reek and Va -ahall tin m.vm iht Good Book.

-This applies to trouble, tnedlata intention of Improving them, hut are' taking advantage of the tanlty to aoouire building aites for fu- i 'M ture home-making purposes. The trans-. fers of reaj property filed for record da by! day are the best evidence that VpeoutotioB Apparent. Ontral was chanalng bands rptUy. and big advances were scored every few 4aya.

The property was onh every dollar that it vas selilag.