, 1865-12-29

T1nE 11x1Ts.
Within the year past the nrc limits Of the city
nave been much extended, and there Is bow arge
" 'fs ea portion i m st
ed 1t embraces all Of the South Dlvfsion north Of
Harrison sreet all Of the West Dyision lying east
md that portion Of The North Division bounded by
Mells, Ohio. tine and North Water streets 10 Lot
hundred and thirty four blocks or equares, and en-
lr1ces The great majority Of the vnlnahle buildings
~ ne city. Outside Of these We 1aEe hundreds OF
once. Of all Designs md sizes, down 10 the kjlrub-
bin faanties about which the IinAs grew 20 face
dous fcw months ago.
COST or Br1LpISo.
The cost Of buding this ycar has been very much
greater than a any lime In the recent history Of
Chicago: The INCREASE In The value of real estate
and bulldog material has not been considerable
ore1 ihc rales Of lsCs though prices Of terrible
; altitude have ruled rampant: wncee OF operatives
have exhibited considerable adyaoce SINCE the be
ginning Of the year but for this, rents would not
rule 20 e1t1asaSsnsly as In the recent past, far
large cities Of England. Buildings are now 1ruied
fo1 nafy as much per year as II cost TO erect them
in 165U md TO.
REAL EsrA1E
Du,,ng the depression II basincs. consequent
Chicago. in common with all other interests Of The
community, suffered severely. The epecuiatiye
purchases made In Sc and 81, largely on time, ba
ehssers. Who were geneiay eampeiiea 10 sbsnaon M a
their Investments and forfeit The payments actually
made during the fnceeedrng Jeart OF IS '69, gu,
dnness W he s eondease Ia
permanent salue Of landed investments was very
much diminished. Stles were very Light during
ior The purposes Of compromising md settcne31s,
The re.sTses Of 81 Succession Of bad crops, the
ccplosable stats Of oar local currency, the
The rebellion Of me south, combined to
produce period Of great depression In which
real estate ty1npalhized With other interests. In
restored. ind real estate for the first time IN five
years beeame suddenly acivc End In demand, and
continued 70 during the wtnter OF g. md 63 There
at any time einec but ii dnaly merged Into steadv
and active dcmand nbont the epslns OF 1863, The
dena1d va. healthy and legitimate, confined almost
t,on, whether for business purposes OF rgsidener-.
Some few made larre pu1chaecs for investment n1d
tor snodis,sioD Int iLese wese exceptions, rrces
ROD, ihe principal advance being in those portions
oithe city rendered easily accessible By Tie newly
Of The year 1864 the demand continued eteady for
act1Ie ute and occupation, The lhrGeet class Of
purchaser WIS among cur merchants whose profits
IN business were sufficiently large 10 cnah1e them
20 make Investments Of thcis euplus capiIa In reei-
derce property euitab1e to their requirement and
'1stes. hanY Of orr lumber dealers. packers and
tses l,efore occupied by them under rent. The de-
slre 10 invest vas a]so stimulated TO some extent
cash baunccs accumulated during period Of great
business prosperity consequent thereon. With
slight feeling Of insecurity among portion Of the
tender notes. During the year 1854, desirable In
side business property may be cons,dercd =. having
advanced in value about ~ per cent tie average
aud good residence property On the street 1aIroad
foEtgA abUut 10 uer cent,
The year 1863 juei closing, hae been characterized
hy The same general features as the preceding year
ms,e demand for occupation. 1t may be noticed,
hovcver tbat during the yeas both tho character OF
the demand has chanced In degree, and = much
suns III more moderate cscuns iancea, as tie smalicr
des1ers. merhau1te and 1aborers. The number Of
dwellings c1cc1e this year has probably been With
inr M material of al Kinda rs neiI :! Of Labor, has
been serious obstacle In the WY Of improvement,
many parties dele11ng their purchases IL hopes oi
loNer p11cce, The number Of dwellings Is stli far
TOO tmull for The VENTS Of our growing population,
and rcufs coptinnc very high, and 1t Il not tnpro
Liable that isom a.0CO TO au09 moro buildings would
find occupants between this lime and the fzft OF
Within the last six months there has been an In
Creased demand for 1bar1nc lots, and lots suitable
o5 81 1nas =" hisn iS
city. Larre purchasee have lately been made Of
tcne Of The most snluable residence and business
property as fnFeSlme0E, MIL IuG uE!ae1 ulaI luGH
value must materially increase within ehort Pc
nod; Un Michigan avenne. fson.ing the lakea
has BEEN purchased varying ron S3;5 per foot for
Inside lott. 10 $50 PEI foot ior corner LOIS: Other
large purchases have been made on Stale street, At
prices varying from $50 near Fourteenth street to
StM per foot near Monroe But little Of The cen
ttnl improved business property has changed hands
during the last year. Stores On Lake and South
Water ttrtels command erch high rents tyatytng
fom ~ 10 70 Per cent the prcss vain Of build.
inga) that but few Of The present owners
10 chapcc the investment
It Is difficult 10 form an opinion OF the ultimate
value OF real estate In Chicago, By a comparison
With o1heE cities. Our territory Is unlimited and
end Boston Tic best residence properly brings about
$500 per foot, with occasional exceptions Of Fill
higher ,ane.-but In both these citic. the aynlab.e
space ior nfidtne purposes Is lmlted owing 10 The
topac1anhy Of The lo:aIsons. Philadelphia mora
nearly approaches us IN this respect and $500 per
iool Is n1oisly he highest range q yalue for red
dsni ,1sce around Chicago sill anoccupied, with
the readiness OF acreT. 10 the more distant por
noes OF The city, will prevent Tie tendency o9ard
4eee eSkcme pIces. even u hen Htis ctr shal mn.