Yost Purchases Vick Building For $4.5 Million

Charles Vick, one of Salem’s most colorful early businessmen, is best remembered for donating $500 to the American Red Cross to be the first “motorist” to cross the new Center Street Bridge on July 29th 1918.

The Vick Building in Salem has been purchased by Roger Yost. Photo courtesy: Rebecca Maitland

(SALEM, Ore.) - Roger Yost increased his property holdings in Downtown Salem Thursday with the purchase of the Vick Building at 525 Trade Street for $4.5 million from a Los Angeles corporation that has owned the landmark since 1986.

The Vick, a 35,075 square foot masonry building constructed in 1920 to house a tractor dealer, is Yost’s fourth Downtown property purchase since 2003. The others are the historic Reed Opera House, the Capitol Center “skyscraper,” and Alessandro’s Ristorante and Galleria.

Yost also owns an upscale apartment complex and condominiums on Cinnamon Lakes in South Salem.

The Vick is currently leased to State of Oregon tenants from the Judicial Department and the Office of Private Health Partnerships.

Yost, who is president of the new Go Downtown Salem! organization, and serves on the boards of the Salem Convention and Visitors Association and Historic Elsinore Theatre, believes Salem’s downtown property remains a great value.

“I believe the Vick building, across from beautiful Pringle Park, and with a 42-space parking lot, has some great potential for expansion,” said Yost.

The first Fordson tractor. Courtesy: Henry Ford Museum

The Vick is next door to the 295 Church Street project, which will have 27 residential condominiums units, a new City of Salem Information Technology facility, retail space, and new studios and offices for Salem’s public access television station (CCTV).

“The developers are offering the condos for $350 to $450 per square foot,” said Yost, who acquired the Vick for about $121 per square foot from Vernon Hills II Associates, primarily owned by Arnold and Ann Porath of Los Angeles.

The Vick has recently received more than $500,000 in tenant improvements on the upper two floors to accommodate the judicial department.

Yost, who has invested extensively to restore original architectural features to the Reed during his ownership, plans to repair and repaint the exterior of the building during the summer months. The color, currently light blue, will be changed to complement the neighboring buildings.

Charles Vick, one of Salem’s most colorful early businessmen, is best remembered for donating $500 to the American Red Cross to be the first “motorist” to cross the new Center Street Bridge on July 29th 1918.

During a patriotic fund-raiser near the end of World War I, Vick piloted a Fordson tractor across the new span to cheers of thousands of celebrants.