Minnesota weekly times. [volume] (St. Paul, Minn.) 1854-1859, 1854-12-12
Communicated.
REAL ESTATE.

Bench street would naturally come next in the
order in which it is proposed to review the differ
cnt classes of town property. This street fronts
the river at an elevation of 90 feet, and extends
from st. Charles to Wabashaw street, distance
of 400 yards. From the first named point to
Minnesota steeet prices are firm at $50 per foot
front, land that has been refused in recent instances
where the improvements yielded heavy per
centage. The fine property held by the Catholic
Church above the Central House, would, of
course command much higher price than this, if
for sale. The reason is that running through to
Third street it would be governed by the rates on
that street with the advantage of front on Min
nesota and Bench streets. The same rule will
apply with certain restrictions in the general adj
vantages of position and extent of ground, to the
property lying at the junction of Third and Bench
street and extending downwards to where the
front on both streets terminate. There arc two
Hotels and one Lawyers Office on this street; ex-
cept one or two dwellings the other buildings
have an air of decay about them which-but we
say nothing.*
Third street is next encountered in our ascent
backwards from the river, and runs parallel with
Bench atreet. On this street large share of the
business of St.Paul is transacted. But this entire
ly confined to an extent some 400 yards common
cling at point opposite the Steamboat Landing at
Borup's Bank and terminating at its junction with
Bench and Wabashaw SITS. At the extreme lower
end of this Division-or more particularly be-
tween Jackson and Sibley SITS. Lots Except lots
cornering on Jackson Street) are held at 800 per
foot-and this notwithstanding the obstacles to
present investment arising from the unfinished
state of the grade. Corner lots on jackson and
Roberts SITS. are stated as high as $l75 per foot,
but there have been no recent sales-Lots inter-
mediate between these corners are held from $l25
and $50 per foot. Lots cornering on Minnesota
are held at $l25-Inside lots between this street
and Roberts are $500 per foot. The latter rates
rule through to its termination. Except on the
South side where in some cases only half depths
are given-and then $40 and Is is probably the
rule. The lots already aGverted to, having
front on Bench and Third Streets, and narrowing
in depth as these streets converge towards their
point of juction, VIC must be contented with de-
scribng as first class property; as the circum-
stances we have mentioned place them neces-
sarily outside of any general rule of valuation
The property at the junction of these streets, with
front on both of IS feet, and an average depth
of - feet sold last June at about $50 per foot
front, exclusive of improvements, or gross sum
$4,000.
But owners are very tenacious of these valua-
BILE business stands, owing to the fact that SUBJ
stantial improvements pay 20 per cent. per annum,
with prospect of increase. On Third street arc
40 stores, law Offices, banking officers, Land
Office, saloons. The unimproved portion of this
street extends from Sibley to Trout Brook. 1t
passes over low ground, portions of which are
liable to overflow in extreme high water. Lots
remote from central business localities, are held
at the gross sum of $500, or Sc per foot. But
lots within the range of projected grades, run up
to as high figure, in some cases, 800 per foot.
But these are speculative prices, and this kind of
property is entirely analogous to the unimproved
levee front, noticed last week, and of which a
judicious system of improvements, energetically
pursued, would develope the substantial value.
A. w. Fl.