Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1871-12-28
THE NEW CHICAGO.

Rapid advance in Real Estate Values
on she south Side-New Hotel Pro-
jocts--County and Other Buildings.
The Chicago Post, Of Saturday eve
ming, has an article upon real estate
values, and contemplated building i'm
provements in the South Side burnt
district, from which we extract the
most interesting portions:
REAL ESTATE VALUES.
The transactions in real estate for
the week, says the Post, have been linn
tied, but at the close holders were
frmer. Parties who are able to hold
property will rarely accept less than
the old prices. Occasionally, however,
where a forced sale il made, or where
the owner is rebuilding, or to effect a
loan on his property, and desires to
turn the ground into money for other
business purposes, a sale is made at q
considerable reduction from the prices
prevailing anterior to the fire. Thus
a lot on the east side of Clark street,
between Adams and Monroe, was sold
this week for $500 per front foot, while
lots adjoining it could not be purchased
for a considerably larger sum, and in
the next block north, just double that
price has been refused. As a general
rule. property on Clark street,, below
Harrison and south of Randolph, has
not been materially affected by the
general calamity.
Madison street is now looked upon
as one of the most important east and
west thoroughfares, and large capital
and important business interests have
made large investments there, and its
future prosperity seems well assured.
A general Improvement in property has
naturally followed this conviction. On
West Madison street the improvement
has been felt throughout nearly its en-
tire length, but more particularly from
the river ia Halsted street. Within
two blocks OF Canal property is now
held at $500 per front foot, which was
only valued at S400 before the fire. The
new Sherman House property on the
corner of Clinton and Madison streets,
being $50 feet on Madison, for which
S175, 900 was paid soon after the fire, is
now valued at 1925, 900.
Market street is among those which
have improved in character by the
changes which have taken place since
the fire. Sales of property were made
there last week at 5000 per front foot,
while $500 and s400 was the prevailing
price before the fire. The erection by
Field, Letter & Co., of an immense
dry goods house, on the corner oil
Madison and Market, has been instru-
mental in developing and sustaining
this feeling. This building will be car.
ried up five stories high this fall, and
put in shape for occupancy early IN the
spring.
There is generally firm feeling in
Wells street property, under general
belief that it will be an important
thorouphfare OF the new Chicago. The
Times newspaper has recently bought
a lot on the northwest corner of Wells
and Washington, forty feet front Oh
Wells, and running back eighty feet, fol
81. 400 per front foot. Other parties
are negotiating for lots on the street,
contemplating the erection of tirst-class
business blocks next spring
The lot on which the Masonic lem
pie formerly stood, on the east side OF
Dearborn, about midway between
Washington aud Randolph, is now Of
fered at 81, 300 per front foot, and 81,
600 has been paid This is somewhat
lower than the valuation before the fire
A portion of the ground ON which the
Speed block formerly stood, was also
offered for time at $1,000, but has
since been Withdrawn. This was also
o marked falling off from previous ask
ing prices.
THR PARKS.
There will be very little done on the
public parks next season. 1t is not
deemed either desirable or in goot
taste to expend larger sums on the or
namentation of pleasure grounds, wher
third of our people are being fed by
the charity of the world. The South
Side Park Commissioners, whose plans
contemplated an outlay of $500, 00t
during the coming season, will restric
themselves to about $4,000 TIL,
West Side Commissioners, instead o
spending $S0.000, as expected, vii
hardly use $50. 900. Lincoln Park
which has suffered directly by the fire
Will require some extra outlay, but til,
Commissioners have resolved upol
practising a close economy.
THE COUNTY BUILDINGS.
The subject OF new county building
is becoming one Of much interest. TIL
Building Committee and Board OF Pub
lie Works have determined TO pul
down the walls OF the present buildings
which were reared at q cost of nearly
million and quarter Of dollars. Sew
eraI members OF the committee favo
the erection Of q new building st q cos