After oil was discovered on his property, Kraemer became one of the richest men in Southern California. In 1925, he built the first high-rise building in Anaheim, the Kraemer Building. Later, he developed the Angelina Hotel, also in Anaheim. Kraemer Bl running through the cities of Anaheim, Brea, Placentia, and Orange is named in his honor. One of his daughters, Adelia, married another famous local, Walter Muckenthaler.