Elton F. Young, 86, has worked for the Shannon & Luchs real estate company for 60 years, most of the time as a commercial leasing specialist. But he says he has no plans to retire. "I like what I'm doing," he said the other day.
A specialist in leases of business properties in downtown, Young has adjusted his schedule to shorter hours (usually 9:30 a.m. to 4 p.m.) because he travels by public transportation and likes to avoid crowded buses. A widower, he lives in a one-bedroom co-op atthe Westchester.
"I grew up in Southwest and later my parents moved to 21st and H streets NW," he said. "My wife and I had a house in Burleith (just north of Georgetown) when our two sons were growing up. Later, we rented an apartment in the Colonnade until it was converted to condominium ownership."
Taking a look at in-city business leasing today, Young sees lower Connecticut Avenue as the hottest area, commanding the highest leasing terms. "I have nothing available there for immediate leasing," he noted.
But he also sees a rejuvenation of the older section of downtown - F and G streets betwen 15th and 10th. "The Pennsylvania Avenue redevelopment and the Metro system are spurring the revival," he commented.
Young has worked on a commission fee basis for most of career. He regards himself as an individual entrepreneur who happens to be part of a large real estate firm. The firm and his colleagues recently honored him at a luncheon where his sons (one, Elton Jr., is in real estate management) were guests.
Elton Young Sr. is a pleasant, soft-spoken man who made his first leasing deal in 1921 with Louis Gold's reay-to-wear shop in the 1200 block of F Street - for $12,000 a year. Another veteran working at Shannon & Luchs is 87-year old Sol Wolberg, who is still active in commerical selling.