, 1873-07-06
REAL ESTATE.
More Business Being Done
than Last Summer.
The Influx Of Capital from the West as
Well as the East.
Lands in the Western and Southern
Suburbs.
Auction Sales."-Scarcity OF DWELL
ings.
Transfers for tho Week.

Tie most unfayorablo thing TINT can be said
about roal estate iu TINT speculation is not ~
nctsve as 1t WAS two months ago. There il,
ho~oVar, nothing unusual III this. DuainosB al
ways Bets dull III tho summon, and, Oh tho othor
hahd, comparison with Inst yonr shows tint
tllefo IL not only moro business being dune now
Than ut tllls tino last summer, but confidence in
tho prosperity OF tho city, tho incroaso of i.a
trade, tho iroroaso of population, ald the oxton-
Hion Of tho suburbs, il evon stronger than then,
aud tho amount Of capital coming from abroad
for investment in roal estate is largor This ID
not entirely money from Older States III the
East, but comes n small s1mB as vol HI large
onos from dozonB of towns and cities in tho
West-many OF tllom weBt Of this city. When
tho capital Of business man in ono of tho
Wostoru town or cltios grows disproportionato to
The ucopo Of Lis local business, llo puts portion
OF tho surplus In Chicago real ostate as the
safest Investment and sutcst to pay profit that
tho Wost affords. THUS tho surplus capital not
only OF tho Eastern but Of Eomo Of tho Wost-
orn Status, is steadily concentrating here to
mako Chicago tho metropolis of tho Wost.
Many Of our own citlzona who Gro interested in
rcai catato valuos fix t1oir attontion exclusively
upon what is boing dono by few speculu-
torn horo in Chicago, md wondor now
they get along and got rich, overlooking tho i'm
rortant fact thai the rise iii ynl,,cy In not tho
mere dolusivo otfoct Of tho uaid spcculators buy.
ing und selling from n,ld to each other, but shs
result Of the stoady Investment Of capital by ct-
zons Of other places, who arc far enough from
tue city to bo Ablo to form moro unbiased opn-
ion Of it's prospects tlan nany who are III tha
midst OF lts o1citclnentB and janglcs about hot
corii, railroAd freighta, now ralronl routes now
suburban towne. etc. eto.
BununnAS LANDS.
continues to DO in two general directions;
westward on both sidos tho Gnlona Diyi-
sion Of tho Northwestern nailroud, "a
lar AZ harlem, and aouthwa:d along tho
various lines Of raiiroad TINT converge at Enclo-
wood, Washington Heights, Cornell, and sonth
Chicago. As illstancoB Of wlat is being done n
tho wAy Of improvements anasnloB Of land alou9
the principal line OF
WESTWARD EXTENSION
it may DO mentioned that since spring about a
dozen houses have been built iu tho district ono
quarter mile square next south Of thonow North
western car-al.opH. Two Of tho principal build
ingh Of tho Northwestern Companys shops arc
more arc 1uid and will 10 completed noxt spring.
Lots surrounding tho shops arc being sold 1T
from $50 to ESQ per front foot, and mechnnica
who arc buying thom intend to build n,ld mako
nefmnllens ;sa homes thoro Quo year ago, tho on
prairie with scarcely an Indication Of Improvement
OF any kind, and could hnye boon bought for
from ~ 300 to 81, 500 por aero. As shown by the
present sales Of lots, tho value OF the uame land
now il from $4,000 to $1,000 por acre
4 tract OF Ion acEos on Madison street, ono
milo aud threo-qunrtors west OF Central Park,
was sold yenr ago for $1,000 per aero; was
sold few months afterwards ut 81 800 per acre;
md subsequently at Sl,S00 per aero. Il waa
sold aguin, ten days or NO ago, at 92, 600 pet
nero.
Another tract of ton acres at Oak Park noary
opposite the Uniyorsalist Church, which wus
Bold Oct. l, 1871. for $1,000 por acre, waa sold
ngnin last week by Aessrs. Snyder e. Leo for
*l,8o0 per acre. It il true that tho land lo-
tween tho stations Oh tho railroad, ns far out as
Harlem, has not advanced uB much III ut tho sta
tiuns, where tho conyonioncos Of quick transit to
and from the city are building up suburban
towns, but tho above instances are Il fair index
Of tho advance in values at tho half dozen sta-
tions Oil the NIX miles Of road from Central Park
to Harlem.
WASHINGTON nEI0IlTa