ARIZONA AT 100

Year's major real estate deals indicated prosperity in the Tucson area

2011-12-26T00:00:00Z Year's major real estate deals indicated prosperity in the Tucson areaArizona Daily Star Arizona Daily Star Arizona Daily Star
December 26, 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

Many important real estate deals have been made during the current year, the total amounting to $1,350,000, according to the figures of Mose Drachman, who compiled them recently. Real estate has been active at all times during the year, and several things have combined to make it more so. The prosperity of the city can be estimated, when the fact is taken into consideration that real estate movements are good trade and general good times.

In discussing the matter with a representative of the Star yesterday, Drachman said: "The late deal, in the Schumacher estate, shows the faith of the business men in the future of the city. There is no question in my mind but that the increase in value of these properties within the next few years will net the buyers a fine profit. There has been much better feeling in the real estate market this year than before, and there has been a more active demand for city as well as farm property. In this office we have several other deals pending on farm lands and city property. We expect to close some of these within a few days.

"There is no question in my mind but that the arrival of the El Paso and Southwestern railroad, the high price of copper, the building of the Southern Pacific shops, and the work of the Tucson Farms company will sustain and increase the value of all property."

Sales in real estate have been made as follows: Tucson Farms company, $75,000; practically all of the Santa Cruz valley. This land will be used for agricultural purposes. It is being cleared, and some of it is being worked now. The purchases were made from small land holders along the valley.

The J. K. Brown ranch sale amounting to $60,000 was one of the big ones.

The Railway Holding company purchased land to the amount of $75,000. This was given to the El Paso and Southwestern railroad for a right of way into the city.

The El Paso and Southwestern purchased land from different owners along the right of way. This land will used for parking purposes and building sites.

The Masonic lodge purchased the corner upon which the Litt drug store now stands for the sum of $75,000.

The Consolidated National bank purchased a small piece of property on Congress street, adjoining the bank. The cost of this was $30,000.

Albert Steinfeld purchased another piece of property on Stone avenue near the bank for the sum of $75,000.

Zipf and Barkley purchased some land near the depot of the El Paso and Southwestern for $10,000. This was purchased as a business investment.

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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