ARIZONA AT 100

Real estate deals anticipated 'big boom'

2011-12-31T00:00:00Z Real estate deals anticipated 'big boom'Arizona Daily Star Arizona Daily Star Arizona Daily Star
December 31, 2011 12:00 am  • 

In this year leading up to Arizona's centennial, Feb. 14, 2012, we'll reprint a story or excerpts each day from the Arizona Daily Star or Tucson Citizen archives.

Dec. 5, 1912

One of the big real estate deals of the year was completed yesterday morning and the sum of $75,000 paid over. The C. F. Schumacher estate was sold. The purchasers are Harold Steinfeld, L. Rosenstern and the Suburban Developing company. Town property and farming lands were included in the sale. One piece of 25 foot frontage was sold to Harold Steinfeld; this is the site of the Union meat market. In discussing the purchase yesterday, Steinfeld said that he had just leased the property for two years to C. F. Weber. Weber will conduct the market as theretofore. The sale will not affect the business in any way.

The second purchase of town property was made by L. Rosenstern. This ground lies between Convent and Congress street. It has a frontage of 40 feet. Both of these town properties brought good figures per front foot. Steinfeld paid a little over $500 per front foot for his, and it is understood that the second purchase netted as good a figure.

Two plats of farming land were purchased by the Suburban Developing company. One of these is 241 acres and joins the city limits on the north side. The second piece contains 160 acres and lies two miles north of the city. These two pieces of property are looked upon as excellent investments by the purchasers.

The Suburban Developing company was lately incorporated by the local business men L. Rosenstern, William Bell, Mose Drachman and others are connected with it. The sale of the Schumacker property was made through the real estate firm of Lee and Drachman.

When questioned as to their intentions in buying the two pieces of town property Mr. Steinfeld said that they were simply investments. He said, in speaking for both parties, "we feel that on account of the big boom coming this year any real estate investment is a good one. I have just leased my newly acquired property for two years to C. F. Weber. He will conduct a meat market there as he has in the past. Mr. Rosenstern purchased his property because of the recent building of the El Paso & Southwestern. Both are good business investments."

Arizona Daily Star

The Sundt Cos., O'Rielly Chevrolet, Research Corp. for Science Advancement, the University of Arizona, Freeport McMoRan Copper & Gold Inc., Rosemont Copper, Tucson Realty & Trust. Co., Jack Furrier Tire & Auto Care, Walgreens and Carondelet Health Network are sponsors of the Star's Arizona Centennial project.

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