Minnesota weekly times. [volume] (St. Paul, Minn.) 1854-1859, 1854-12-05
80 = > p = , . =
REAL ESTATE.

In accordance with the design announced in o
previous number, we proceed to lay before oul
readers, in series of articles, an analysis of the
prices of Real Estate in the Territory.
We do not intend in these notes to confne our
selves to mere tabular statement of prices, tho
roughly digested and Systematically arranged -
We believe that any attempt at a classification Of
property, with reference to its values, on the
basis of the legal subdivisions, would only serve
to confuse the mass of our readers, who must me-
cessarily be more or less ignorant of the relative
situations indicated by the technical descriptions
of the surveyor.
While, therefore, we shall sometimes avail
ourselves for the sake of accuracy of the legal
divisions, we shall endeavor, by blending occa-
sional illusions to familiar objects and localities
or the incidents of geographical position, to at
tract the local interest of the reader.
The figures We give are complied from au-
thentic sources and are based on rigid COM
parison of the selling cash prices.
We have not presumed to apply any arbitrary
rule of appraisal, but when it has been possible
have simply given the ascertained and understood
selling rates rs derived from the terms of recent
or contemplated sales applying whatever posi-;
tive information we could obtain in the case of
any particular property, to all property Of the
same specific class. Indeed, the facts within our
reach must, necessarily have only this remote
and inferential bearing. Solitary instances,
sometimes, supplying the rule of rates for whole
class.
Our estimates may not in all cases be satisfac-
tory to proprietors who may hold their property
at higher rates than their neighbors and we are
willing to admit that there are many circumstan-
ces arising out Of the exigencies of individuals Or
the hayward impulses of speculation, that may
render occasional sales an exceptional rule of
variation.
1t will be scarcely necessary to explain, that our
estimates are entirely independent of improve
ments, and in town property, suppose always the
ordinary depth of lots.
St. Paul will naturally form the subject of our
first series.
On the Lower Steamboat Landing-where the
larger portion Of freight is at present deposited
property fronting the principal point of debarka-
ton and along the course of the actual Business
Levee ranges at $l50 $225 per foot front, the
lowest figure, indicating the gradual depre-.
citation in direction downwards with the river and
along an extent of some 500 feet, terminating at
the lower warehouse of Bass, Borup & Co., and
comprising all the levee in actual use. /.
The river-front bqlow-this extending some
500 yards to Borup's mill where the division into
lots ceases-is nearly in its original unreclamed
state, and therefore, not available at present for
levee purposes. Held generally at speculative
prices. 1t is impossible to place these within any
definite range-$lO0 q S20-wll probably repre-
sent the extreme figures in graduation downwards.
In a recent instance sale for property near the
foundry was negotiated at SIS. but in this case,
there was a valuable incidental considerations
Generally when held at positive rates-SS4O is the
figure stated.
If public improvements in this quarter are push
ed with an energy commensurate with the rapid
expansion Of our trade-this will be among the
most valuable property in the city.
Owners, however, would consult their own in
terest by promptly attending to the sandbar now
in rapid formation along their front. The agcn-
cy of certain villanous old pines in tn, creation
of this obstruction, would seem to bring them
within the statutory definition of a nuisance and
within the legitimate scope of the legal remdes
in that case made and provided.