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REAL ESTATE AND FINANCIAL SECTION
BIG TUNNEL, SOON TO BE BEGUN, CAUSES GREAT ACTIVITY WEST OF TWIN PEAKS
STREET IMPROVEMENTS IN RESIDENTIAL PARKS. WHICH ARE BEING OPENED IN TERRITORY WEST OF TWIN PEAKS, WHICH WILL BE BROUGHT IN CLOSE TOUCH WITH CITY BY THE TUNNEL
PRELIMINARY WORK ON LONG
BORE SHOWS EASY DIGGING
Engineering Crews, Testing Ground Around Twin Peaks, I
Find That Most of Excavation Will Be
Through Sand and Soil
men in charge of D. A.
Jistant engineer of the city
engineer's office, have been boring holes
along the route of Twin Peaks tunnel
since November 1 and the work is now
practically completed.
last week their experimental i
■work has been in Forest hill, where the !
Laguna Honda station and western por
tal are to be. The seven test holes
sunk in Forest hill were at an average
depth of about 95 feet. In all of these i
holes the strata was entirely sand and
clay, and in one hole decomposed rock
was struck at I*3 feet.
The result of these experiments
demonstrates to the engineering de
partment that a great deal of the con- :
struction of the Twin Peaks tunnel will j
be through soil, and the ledges of rock !
will be only under the peaks them
selves, from Eighteenth street west to
the Almshouse tract.
At the western portal and at the La
puna Honda station the Newell-Mur
doch company, owners of Forest hill, j
have set aside 21 lots, which they will
£ive to the city for the portal station I
and approaches. Up to the present!
SUTTER STREET LOT
SOLD FOR $110,000
Money Received for Civic
Center Land Reinvested
in Downtown Realty
Speck & Co. report the following
recent sales: For A_ B. McCreery, lot
137:6x137:6 feet in the north line of
Sutter street, 137:6 feet westerly from
Mason street, to the Lexington Realty
company. The Lexington Realty com
pany has recently sold its holding: on
the sonthwest corner of Polk and Mc-
Allister streets to the 'city for civic
center purposes for $245,000.
This is the second largre sale that
Speck & Co. have made to owners who
have received their money from civic
center sales. The new owners will im
prove the easterly half of the lot,
in size 68:9x137:6 feet, with a six story
steel frame building, to contain stores
on the ground floor and an apartment
hotel of more than 100 rooms on the
upper five floors. The terms of sale are
private, but it is understood they
amount to about $110,000 cash.
Have You Seen INGLESIDE TERRACES
With its winding, paved streets,
Its artistic stone approaches,
Its sloping green terraces,
Its view of lakes and ocean,
Its tree-bordered sidewalks,
Its beautiful green lawns,
Its lovely flower gardens,
Its new system of street lighting,
Its superior gas and electric system,
Its up-to-date water system,
Its parks of blooming shrubs,
Its unparalleled sewer system,
Its beautiful new homes,
Its healthy, happy children
[tS large, elegant, splendidly equipped $30,000.00 Social Center Club House, with spacious grounds
and other attractive features too numerous to mention.
If you reside in San Francisco you owe it to your If you are a visitor you will have missed seeing the
City to have seen this place, that you best residence section of our metropolis
may be able to tell about it. if you don't visit it.
nearly f1,000,000 worth of property has
been sold west of the peaks in Forest
hill and the other residence parks.
When the activity of constructing the
tunnel begins It will give added impe
tus to development and sales in this
district.
In the meantime street work is being
pushed rapidly in Forest hill, St. Fran
cis Wood and Ingleside Terraces.
The entrance of St. P'rancis Wood,
adopted from the Vatican gardens and
the Villa Borghese, will give an im
pressive approach to the groups of
villas beyond. Pools reflecting the ar
chitectural features of loggias, perl
style, balustrades; great stone seats
inviting restful contemplation, foun
tains tinkling musically—such things
instantly divest the mind of the tur
moil of business and prepare one for
entrance into a realm of calm but
cheerful influence.
The entire place has been planned as
though for the owner of a single large
private estate. It has been treated as
a unit, and the restrictions as to build
ing, as well as the disposition of lots,
prevent the destruction of the general
landscape scheme.
NEW SCHOOLHOUSE
GOING UP IN RICHMOND
Nicholl Tract Is Center of
Building Operations and
Improvements
RICHMOND, Jan. 10.—Construction!
has been started on the new school
house at Twenty-third and Main
streets adjoining the Nicholl tract, and
it will be rushed to completion.
The Union Water company claims
that the water system, as provided for
in the $50,000 contract recently signed
by Burg Brothers, will be the most
complete of any around the bay. Th».
mains will be extra large, and in point
of quantity and quality Richmond may
well feel proud of this important de
velopment in the Nicholl and Grand
Rumor has It that a gigantic invest
ment plan is on foot that will eclipse
anything so far undertaken in Rich
mond. If the plan Is carried out as
contemplated, a great number of beau
tiful modern stores will be erected in
the Nicholl traot, mainly on Macdonald
avenue frontages. This is but a part
of an important movement that will
result in the Nicholl and Grand View
Terrace tracts building up in record
time.
mT t OWP2? A ¥ ¥
THE SAN FRANCISCO CALL. SATURDAY, JANUARY 11, 1913.
BANKS MAKING LOANS
TO AID IMPROVEMENTS
Sales and Building Opera
tions Reflected in Mort
gages of Week
Loans on city real estate continue to
be somewhat below the 'average. Not
withstanding: this seasonal dullness a
considerable number of sales and build
ing operations have been financed this
! week by the savings banks. Following
are some of the principal loans of the
j week:
To Arthur arvl Etlirl B. Elrln th* , SaTings
Union Bank aud Trust company made a building
ioanlbf $5,500 to met a two story loft structure
in the southeast pl<i>- i C Jeatle street, 873 north
east of Sixth, northeast 27 by Boatbeast 70.
Thf German bank loaned $40,000 to Issac Men
j sor to erect a hot*-! at the southeast cornet of
Geary and Jones streets, on lot 28:0x(J.5:9, to cost
$55,000.
German Sayings brink made a renewal loan of
$9,000 to Henry Northrop on property in Hk
west side of Oivlsadero street, S2 feet north of
Grove, lot 55xi:t7:e.
The Savings Union bank made a straight loan
of $15,000 to Henry Joost on the property at the j
southwest corner of Twentieth aad Mission
streete.
The California Pacific Title company made a
loan of $17,500 to the Excelsior Realty company
to finance the purchase of property In the east
side of Mission street, 85 feet north of Twenty -
third, lot 45x122.
Tiie llibcrnia bank made a straight loan of
1180,000 to St. Mary's help hospital, corner of
Gufurro street and Clinton Park.
Thf Bank of Italy made a loan <4 525.000 to
F. H. Howard, part oj, which is Xn h>' naed 'n t!i<
completion of a garage at the northeast comer
of Geary and Buchanan streets, on lot 137:t>x
137:6.
The Hibernia bank made a building loan of
$10,000 to G. Brims, to erect apartments in the
east side of Dolores street, 76 north ot Twes
tleth, on lot :;7:0xl05.
Tlie Hlbernta bank loaned $20,000 t<> A. H.
McHuron to finance the purchase of property in
the cast side of Mission street, 150 feet north of
Serenteenth. on lot 75x105.
The Hihermn hank made a building loan of
$10.iX)0 to John Murphy, to erect apartment* lv
the south side of Geary street, 120 feet west of
Larkin. on lot 40x120.
The Mutual Savings bank made a building loan
of $10,000 to M. is. Show, to eerct apartments
in the north side of Jackson street, 200 feet
west of Taylor, on lot 50x137:0.
LARGE TRADE MADE IN
REALTY OP TWO CITIES
Several San Francisco Apart
ments Given in Exchange
for San Jose Holdings
Baldwin & Howell report a trade in
volving , properties in San Francisco
and San Jose of the aggregate value of
about $700,000, which was consummated
yesterday by the filing of papers in
the recorder's office. The parties to
the trade were James Irvine and the j
Berkshire Apartment company, and !
under its terms the Berkshire Apart- I
ment ■ company has deeded to James '
Irvine the property known as the Em- ;
plre Court Apartment building, south-;
east corner of Bush and Leavenworth ;
streets. 93x137:6, and the property ;
known as the Atherstone apartments,
south line of O'Farrell street, 137:6 I
west of Jones, 91:8x137:6.
In rffurn Irvine has conveyed to the
Berkshire Apartment company the J
property in the southeast line of Mar- j
ket street, 83:4 southwest of SanohezJ
fronting 179:S in Market by a depth of
110 feet, with an "L." running through
to Sanchez street. The improvements
on this property consist of a three
story frame building known as the
Francisca apartments.
Included in the trade is property in
San Jose, In the easterly line of Market
street, 157.76 feet north of San Carlos
street, fronting 257 feet in Market
street by a depth of 1 r>9 feet, the im
provements being , the property known
M the Auditorium rink, and in addi
tion to these properties cash and the
conveyance of personal property.
Thomas Mugee & Sons announce ttt«
i losing of one of the largest sales that
has recently been made in the Mission
retail district, the property being lo
cated in the east side of Mission street,
150 feet north of Seventeenth, fronting
75 feet in Mission street by a (Jpptli of
105 feet, for the account of Anna Hil
lenbrand. Pauline C. Wyss, Leo A.
J Schmit*, Constance C. Bonlay, Louise
1 Schoettler and Julias William Schmitz,
to A. H. McHuron. While the exact
• price has n©t been mentioned, it is
known to have brought close to $35,000.
This sale is of interest owing to the
i fact that it is only one of a number of
i recent sales that have been made in the
■ same t>lock in Mission street between
: Sixteenth and Seventeenth. The lot
■ immediately adjoining the property to
i the north, fronting 25 feet in Mission
J street by a depth of 105 feet, has been
j sold and resold within the last 60 days.
I The lot immediately adjoining the lat
ter named piece has also been sold
; twice, each time at an advance. The
northeast corner of Mission and Seven
teenth streets fronting 100 feet in
Mission street l>y 105 feet in Seven
teenth street, has been sold three times
within the last two years. Across the
street, in the west side of Mission
street between Sixteenth and Seven
teenth there have also been two recent
sales.
T~4% or 700%^"!
£ W///C// do rot/ wawr? y
'fajj, A year ago we sold a lot on Macdonald avenue, Richmond, for $1,600.00.
PPp The customer had paid in during the year $280.00. Recently this same lot was
|P w sold for $3,750.00 —a profit of $1,870.00, or nearly 700 per cent upon the money BUB
• Lfl $280.00 in the savings bank at the prevailing rate of interest—4 per cent — Hβ]
1«1 nave nette d this party only $9.80 in one year. bM
IBj Which would you rather have—4% or 7OO%?
INICHOLLMACDONALD AVENUE '\
I RICHMOND J
M CIVIC CENTER 2
t JSI' 1 Will make even greater returns than this.
1 S ut your money wne re the savings bank puts it.
mM Don't be satisfied with 4 per cent when others are getting 700 per cent.
ftJaJ Remember, you don't have to pay cash—just easy monthly installments. I M,
11111 l Don't put it off—cut out this coupon NOW. It means money to you.
1 BURG BROS., iNc 1
■MM The Pioneer Richmond Real Estate Dealers MM
|||1 660 Market Street, San Francisco :
||P BRANCH OFFICES: co,ored maps L^
WS 23d and Macdonald Avenue, Richmond. F\sl
ip! 435 Thirteenth Street, Oakland. Xame j ,^
mm 2011 Shattuck Avenue, Berkeley. Address aatia-'H" X 1
GREAT BUSINESS DONE BY
IMPROVEMENT COMPANY
Three-quarters of a Million Dollars Worth of Houses and
Lots Sold in Ingleside Terraces and
Richmond Heights
There is no better evidence of the
progress which San Francisco is mak
ing in building beautiful homes and
developing vacant lands into fine resi
dence parks , than the operations of one
company during the last year.
During 1912 the Urban Realty com
pany, of which Joseph A. Leonard is
manager, sold $740,698 worth of choice
houses and lots. In the making over
of the old Ingleside racetrack Into a
model residence district this firm
moved 300,000 yards of earth, or one
fifth more than one-fifth the amount
that will be excavated in the Twin
Peaks tunnel.
This company constructed and sold
in Ingleside terraces during the year
2S houses, at a total value of $181,418.
The number of lots sold In Ingleside
terraces upon which no houses have
yet been constructed is I*4, at a value
of $388,800. making a total value of
property sold $570,215.
The same company constructed and
sold in Richmond heights during the
year 1912, 18 houses to the value of
$129,830. They also constructed and
sold in the Richmond district, outside
of the tract owned by the company,
four houses to the value of 127,450. They
sold five lots upon which houses are
not built in the Richmond district, to
the value of $13,200. This makes a total
business during the year of $740,698.
Besides the 300,000 yards of dirt
moved In Ingleside terraces, this com
pany laid more than 20,000 lineal feet
of main sewer, and something more
than 12,000 feet of laterals to connect
the lots.
They also laid 75,430 feet of water
mains.
There has been laid a high pressure
gas main, to bring gas into the tract,
more than ilk miles long, and in Tn
gleside terraces itself, more than 26.00T
feet of gas mains. About 13.000 lineal
feet of paved streets have been com
pleted and some 28.000 lineal feet of
reinforced combined curb and gutter.
About 12,000 lineal feet of sidewalk
has been laid.
The electric house lighting: is all un
der contract and about one-third com
pleted. Telephone service Is now ready
for installation. One hundred ami
forty-one electrolier frames have been
manufactured and set up, and the re
mainder, to bring the number up to
428, are now in process of being.manu
factured. About 500 shade trees have
been set out along the sidewalks. Tim
street lighting system is now being in
stalled and the lights were turned on
in »fa( blocks on December 27.
Out of nine of the stone approaches,
two of the larger ones are con.,
and four of the single once, and lighted
with electric lights.
9
