, 1873-08-31
REAL ESTATE,
Condition and Prospects Of Business
Property and Business
RGnts,
soush Chicago, Washington Heights,
Engiewood, Hinsdalc.
IMPORTANT Auction and Private
Sales in tho City,

Important Auction and Private
Sales in tho City.
Tho indications of favorable change in tho
real ostato market noted q wook ago aro con-
hrmed this week by greater activity, creator
speculative inquiry, md by general expressions
OF mora confidence. This feeling, however is
confined mainly to residence and manufacturing
properly III tho suburbs. It is generally co.l-
couod that tlore ig no speculative iutlucomeut
to tnyost ogon in the most central business prop
erty at present. Owners Of this class
OF roalty found 1t not only necessary
to rebuild on their ground to prevent
its depreciation by tho threatened change Of
business locations nftor tho tlro but alao found
1t necessary to erect q much better class Of
buildings in every part Of tho BUSINESS district,
Tho result is that now, at nearly the end Of two
years after the destruction of tho old city, Chi
oago has Mt 1east 80 per cent moro first-class
stores In the business district than at this tilno
two yoara ago. OF really 1rst-claas oil3co room,
there IL probably twice as much as there Was
then. While tho general trade Of tho city Is un-
doubtedly much larger now than two years ago,
1t does not yot mako demaud for all the
extra store and Office room created since 1871,
Store and Office rents are low yet, hence there
are no grcat Inducements to buy central b,,si-
ness property end build on 1t, except tho fact
that building materials are unusually low, aud
the probability TINT IN increase Of trade now
aeems to]erably certain to result from tho abun-
dance Of crops In the West. and tho present nc
tiVity Of marketing thom. Those latter oircum-
stances aro 4 solid basis for commercial PROF.
perity thiH full ind no1t spring to degree not
surpassed in any former ycar. In fact, tic
commercial outlook, not only for this
city, but for the Wost generally, has scarcely
ever looked TO promising aa 1t tloes now. Those
circumstances will undoubtedly make an iu-
creased demand for stores aud Offices next
spring.
Il ia a somewhat singular fact that
comparatively few OF tlloue who buy
and speculate i'll real estate, pay any
attention at5 M to the general condition Of trade
OF ton buy because otllors buy, and imbibe their
confidence from the bo}dness OF their operations
Increasing values Of city real estate arc however,
only IN incident Of prosperous trade IN other
the solo foundation Of It's growth. When ity
trade ncrensos its population and itB real eBtato
values increase in the samo ratio. It is IN this
view Of the caBo that the present attering pros
spring tnthu general trade Of tho city promise,
Also much speculative activity In real estate.
SUBURBAN PROPERTY.
It would DO difficult to Bay in Which quarter of
present. In nearly all directions tho lnrgest
landowners are full Of projects for new streets,
better sowers, and other similar improvements.
There is, however, ono point in tho
.I1 suburbs which must :. soon exercise an
powerful than all tho other suburban influences
put together. Tliat point il tho Calumet Harbor,
which cannot fail to eventually take largo share
of tho heavy freight business in lumber, coal,
iron, md iron-oroa from Chicago River. In
fact, II the Calumet Harbor nnd liver had boen
mado available yours ago, as they have now been
within tho paHt six months, by tho Government
work in clearing out tho channel and building
the piers, South Chicago would now be doing al
important share of tho transfer of frcights from
cars to vessels, and vice versa,
An mentioned last weok, there arc Indications Of
much speculative activity in suburban lands bo-
tween Hyde Park Hotoi and South Chicago. Wo
north half Of Sec. 81, at 81 $50 per acre, which
WAS bought year ago at s700 per acre, aud also
of another sale Of MI undivided quarter interest
in 1G0 acros, half milo north of tue above. at
the rate Of 81 250 por aero. The fact is, there is
not much land iu that vicinity offered for eale.
THE SOUTH BuoNE RAILROAD
from Parksido Station to South Chicago, will
probably bo built within the next thirty dayB, AZ
NO understand the contract for its construction
has been signed. and that . verbal agreement
Company to operate it when completed.
4 LARGE TRANSACTION.
hfr. 0. ]. Slough, we'll known as the founder
OF the pleasant suburban town OF Hinsdale, has
ronl ostato ever made between private
indiyiduals in this part of the coun-
try h1r. Slough llaH sold to pnrty OF Chicago
capitalists (for whom MIR. Charles E. Brunor
ia trustee md nogotiator) for tho sum Of $780,
600, all his interest in the town OF HinHdalo Tex
cept ha private rosidonco), consisting Of 30,000
feet frontage Of town Lots, and also 400 acros of
adjoining land. The lots arc in tolorably COM
pact body near tho railroad-station. and tho 400
Of Lang the town TIC %e; The
ono church, ono building used for town hall,
aud ten dwelling -hollses. Seven years ago. Mr.
Slough lived at Ilinsdalo NIL alone, ho had
bought about 800 acres Of lnnd, and deliberately
accomplished hia purpose in shown BY tho
fact that HinHdalo now contains $500 i'll
aud that A1r. Slough Inns not only
built a town but made fortune. Ho aBcribea
bis saccoAa mainly to his nnfaltering conldence
u tho value of suburban property around
Chicago, aud to his persistent advertising in
IuE CuIoA0o tribune. AS part OF tho consider
ation for his uinadale property, Mr. Slough |
takos dcoa from Den}. Lombard for the hns
Of Twentieth street, Including iii foet OF front
age aud 4 strip Of ground on tho opposite sldo |
Of tho etrect to preserve the lake vow from tho
front OF tic residence. The consideration for |
this fine residence property IL, $4,000.
WABASH AVENUE.
Wabash Ia macadamized already from tho city |
limits to Bixty-thirl street, distance Of tlireo
nloH, aud within throa wookH will be Joined ut |
street by q wooden block pavement |
from Twouty-ninth street. making continuous |
drive OF soyen miles from Madison stroot.
George Springer ii removing hia residence on |
the northeast corner of Thirty first aud Michi-
gau avenue. and will erect at once a fine business
block on tho grounds, 120x48 foot.
MISCELLANEOUS NOTES.
Mr.. u. T. 1Ioyt has broken ground and conf
moucod tho erection Of tlrst-olaBa hotel build
ng, with barn ulld sheds, Oh the corner OF Cot
tago Grove avenue aud Fifty-tlrst street, 'front.'
ng tho South Park md the Grand Parkway con-
necting tho two DonloyariH. Tho hotol building
Il faak vi IL