Peterson Linotype Building, Mergenthaler Building (Mergenthaler Co. only had a sales office in this building)
Life Span: 1917-Present
Location: 87 to 91 Plymouth (Old), 523-29 South Plymouth Place
Architect: Schmidt, Garden & Martin
Inter Ocean, September 27, 1910
Record has been made of the sale of the building and assignment of the leasehold in the ground at 87 to 91 Plymouth place by Franklin Newhall to James L. Regan and Charles S. Peterson. This deal was announced three weeks ago, but at that time the amount of the consideration was not disclosed.
It appears from the recorded instrument that the purchasers gave $50,000, of which $30,000 was in cash and the balance in sixty motes of $1,000 each at 5½ per cent interest, payable on the first day of every month, beginning Nov. 1, 1910.
A report has been circulated that Regan and Peterson intended to combine the Regan Printing house and the Peterson Linotype company and form a new corporation that would erect a large building on the 75 by 100 feet of ground included in the leasehold. This building, It was reported, would cost around $250,000 and be one of the most complete printing establishments in Chicago. It is understood. however, that negotiations are on for additional frontage adjoining the present building on the north and if these are successful it is probable that a building occupying the 150 feet frontage will be erected at a cost considerably in excess of $250,000.
Chicago Tribune, October 2, 1910
PLYMOUTH PLACE—The leasehold interest in 73×100 feet at 87-91, and the six story building thereon have been purchased by James L. Regan and Charles S. Peterson, who now occupy the premises with their respective businesses, from Franklin Newhall. Mr. Regan is the head of the Regan Printing company and Mr. Peterson of the Peterson Linotype company, and they are said to be peeking the acquirement of the seventy-five feet adjoining on the north.
It is said they plan the construction of a fourteen story building covering this and 75 feet adjoining on the north if this property can be secured, and while it will be some time before the proposed structure will be erected, it is said present plans contemplate one of the most perfect buildings for the printing and allied trades in the city.
For the leasehold interest and building purchased, the latter of which was valued by the board of review at $48,000, Regan and Peterson paid Franklin Newhall, the recent lessee. $9O,000, of which amount $30,000 was in cash.
To secure the remainder of the purchase money the purchasers have given a trust deed to the Chicago Title and Trust company covering sixty promissory notes of $1,000 each payable nvonthly. A feature of the purchase is the fact that the two firms will consolidate under the name of the Regan-Peterson company.
The land is under a long term lease, having eighty-nine years to run, at an annual rent of $4,500. It is thought that, even should the plan to secure the north seventy-five feet fail, the land just acquired will be improved with a thoroughly modern structure.
Chicago Tribune, October 24, 1912
Mrs. Sarah Lynn Hinkley, wife of J. O. Hinkley, has sold through Albert L. Strauss to Catherine and Jessie Colvin of Lake Forest the fee in the 25×101 feet of ground at 531-33 Plymouth place, west front, 100 feet north of Harrison street, adjoining on the north 25 feet belonging to the Misses Colvin, for $37,500 cash. The property has old brick improvements. The ground is under lease for ninety-nine years to James L. Regan and others at an annual rent of $1,500, which makes the sale on a 4 per cent basis. Nathan Gross. was associated with Mr. Strauss In the deal. The Northern Trust company represented the Misses Colvin in the transaction.
Chicago Tribune, September 12, 1916
The McCormick estates, represented by John A Chapman and Judson F. Stone, have purchased from three different owners the property at 523-29 Plymouth court, being 125 feet north of Harrison street, for a little over $110,000, and will improve with an eleven story and basement reinforced concrete building which they have leased to Charles S. Peterson, who will occupy it with his three printing concerns, the Regan Printing house, the G. D. Steere bindery, and the Peterson Linotyping company.
Mr. Peterson owns the leasehold interest and the six story building adjoining the proposed building on the south, which he will continue to occupy, thus centralizing his various companies under one roof.
Sellers of the Properties.
The property is on the east side of the street, and No. 523 was acquired from the Harris Trust and Savings bank, trustee of the estate of John H. Walker; No. 525 from Caroline B. Robinson; and No. 529 from Mrs. Jane W. Fitts, represented by Louis A. Seeberger & Co. These sales and the lease were negotiated by Hampden Winston, who represented all the parties to the transaction.
The proposed building is expected to cost about $200,000, and the lease, which runs for thirty years. is on a 6 and 8 per cent basis. Mr. Peterson, who is an active figure in the printing business. has for some years been a member of the board of education. W. B. MclIvaine of Wilson, Moore & Mclivaine attended to the legal details for the purchasers.
Chicago Tribune, December 17, 1916
Completed; the Peterson Building, to Be Occupied by Printing Concerns.
The lower building is the Peterson building, now in course of construction at 521-37 Plymouth place, just south of Van Buren street. It will occupy a lot 160×101 feet to an alley, and will be eleven stories and basement high. The exterior finish will be white enameled terra cotta.
The building, which will be one of the largest printing and publishing establishments in the west, is being erected by the McCormick estate for C. S. Peterson on a thirty year lease. It was designed by S. N Crowen, with Richard E. Schmidt, Garden & Martin, associate architects. The lower six floors will be occupied by the Regan printing house and Peterson Linotyping company, the seventh floor by the Acme Electrotyping company, the eighth, ninth. and tenth foors being used for publishers offices, and the eleventh by the Columbia Engraving company. The first section. 72×100 feet. is now under construction. Mr. Peterson will construct a building on the remainder of the ground, which he holds under a ninety-nine year lease.
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