I too would be skeptical... but why would they show it in the schematics of the block if it didn't exist. They mention that it was done from 1926-28, which is a year before the depression started. As for it being buried... it sounds like it's underneath the 2 story existing building [[would love to check out the basement of that building).
But it does make for some interesting ideas for the future, if it is there. Back in those days they built things with "overkill" [[more support infrastructure than they do today).
My guess would be that as long is it has been kept dry [[sump pumps), it would likely still be in good condition.
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