, 1872-11-24
The New Stores in the Burnt
District, and Their
Occupants.
1'he Gravitation Toward the
Old Centres of
Trade.
Transfers for the Week, ETC.

port something Of falling off in transactions.
We hea-, also, Of good deal Of real estate paper
that are not paid at maturity, and even in some
Instances Of considerable amounts Of annual
interest that is not paid according to contract
o. paper that has year or two to run yet. As
general rule, the holders Of this paper are
carrying it along, having firm faith in its being
paid when money gets easier, and feeling that.
as far rs the ultimate payment Of both principal
aud interest is concerned, the security is good be-
yond question. This condition Of affairs cannot,
OF course, but exercise unfaTorable effect
upon the present volume Of TRANSACTIONS though
at the same time it is not probable TINT any con-
siderable amount Of property will be forced tc
sale by the foreclosure Of mortgages, q crisis in
Chicago real estate speculations which has been
looked forward to for the last six OF seven years
by good many old fogies as the good time com.
ing when it would do to buy, but which has
never come, and seems likely never to como, o1
at least never to have the effect OF depressing
prices much. In fact the amount OF maturing
liabilities on first annual payments at the pres
ent time is not large. At this time last year the
real estate market Was dull Oh account OF
the uncertainty about future values,
in consequence Of the great fire,
But last spring transactions we're unusually
large. and the aggregate Of first annual pay
uents that will fall due in April, May, and June,
1878. will probably be larger than at any previ-
GUS period In the history Of the city. But money
is likely to be easy then, and there is every 1ea-
son to believe that the steadily increasing trade
and population Of the city will inspire continued
confidence in the further increase in value Of
real estate. This prospect is, to 4 considerable
extent, assured By the grand scale On which the
Business portion Of the city is being rebuilt.
The fact that We already have more and finer
store rooms and twice as much Office
room. and better than re had before the
fire, should not be regarded as an evidence that
rebuilding has been oEerdone. That rents Of
both stores and Offices win be low next year is
probable, but this very fact will draw many peo-
pie here to do business, who would have found
1t impossible to begin business here at the old
high rates Of rents. Beginning on 3 basis Of
low rents, the interests Of landlord and tenant
Rre to some extent identical, as low rents will
enable new comers to build up in year or two
tr-des which they cannot afford to lose, but can
then afford to pay higher rents to retain.
These views doubtless have their influence
sds1 n any a4sn CAPITALISTS Rd2 Of go% gheo.tns We
for valuable pieces of business property. 4 no
table fact in this connection is, that several Of
the parties who hare made positive offers Of
large sums Of money for business property in
Chicago are from Boston In nearly all cases
the offers made for this class Of property are
below the prices at which the property has been
held This reduction is probably claimed On
the ground that for = year business rents are
likely to be low, but the fact that numerous par
ties from other cities stand ready with money to
Pay for good business property in Chicago, even
at slight reduction, shows the confidence
which the country at large has in her commercial
future.
% not sell go readily they did q month ago,
though even get this ia the most saleable c1ass
Of property. except good
MEDIUM CLASS OF DWELLINGS,
9c= which there is an active demand and an in
adequate supply. Residence lots also, at about
$10o to S125 per front foot, sell pretty readily
to parties who propose to build houses for their
at these prices, however, one must go outside OF
the present compact1y built portions OF the
city, and buy On streets where there is neither
rayements nor sidewalks, and in but few in
STANCES gas or water. 6econd-class residence
property for cottages can, OF course, be had for
much less, and the demand for it is still active
Rrd the volume OF sales large.
PROMINENT BUILDINGS.
Work On the Field d Letter store, on the store
OF D. B. Fiske, lB making good progress, con-
sideriug the season, and the rich character of
both buildings is being well brought out. These |
stores will secure high trade character to the |
Intersections of Washington and State streets |
Wabash, near Van Buren, the building of the |
Academy of Sciences, are in the fourth story, |
and show q very beautiful stone front. The |
roof and Mansard towers Of the Michigan South
ern and Chicago. Rock Island d Pacific Railroad |
depot are nearly on. The great buildings and
stables of the American and Merchant Union
Express Company, on Monroe street, are making
good progress.
GENERAL BUILDING NOTES.
The 1et-up Of the worst phase Of the horse
disease and the general introduction Of OK |
1eams, has helped to 3 large degree Of activity,
the building operations most pressing for COM
pletion this season, but the general effect on
in 1,1ir
Etely prospective, has been the anticipation by
teveral weeks Of the shut of for the winter.
Meanwhile, there is increasing promise of an
early awakening Of activity next year, and many
buildings are under contract. or in architects
hands.
Tho Grand Pacific and the Sherman House |
are making very nearly equal strides towards | |
nearly done, and the finishing joiner worE BE-
gun. In the former enterprise the ranges of
S1oneuEe D1parquet. OF New York, have been t
pat under contract, and mine hosts Of the Grand |
1ohn 4 Rice, are busy with all the details Of !
carpets, upholstery, china, glass, and plate.
Nithin the present week the Pacific Hotel Com .
,any and the Fire Department will unite in an | !
INNS for carrying stream Of water to the top {
aost point Of the house, and throwing q full c
stream from the Mansard towers. q
The Orient House of Messrs. Grant & Cudney | q
GE4ll5 Dut LII IGaA1luSS5 4O4 SAtSt5, W ~ open
:, two weeks. The beautiful 5latteson House,
:hich carries throughout the Impress Of its {
aergetic builder and occupier, Robert Hill will J
= open ea-ly in January. The Woodruff House +
I'll be open in December. The Clifton House o
up to the second story. The Briggs House is t
:ail advanced. The fremont has reached the Il
~ccnd stcrv. Anderson's and the Peabody q
iotel are receiving their furniture. G.
CLARK STREET RETAIL STORES. f,
The completion Of numerous fine business q
locks Clark street, which has now more elo- 81
Int buildings north Of Jackson street than any q
,reet he city, is bringing back old. firms and
Lens Of prosperous trade. c. G. Collins, the b,
en-I1nown clott1ier, whose most successful b,
pec;alty is boys and youths clothing and fur 81
thing. is about to open his new double store, &C
:s. 49, and 1856 Clark street near Monroe, with th
stock something remarkable in this market in r;
,i1plc.cness and ottractiyeness OF i,,es re- ar
loving from his premises since the fire on Wa al
ash avenue, near Sixteenth street, but retain
9 Lis West Side branch, No. 1875 West Madison
rect. It Will be the largest establishment of RI
|; class in the United States. and Mr. Collins II
4trous viii hare greater th2n eTex before Ct