, 1873-07-07

Tlo most lnfavOrablo thing thht can be said
about real oasate ia TINT speculation iB not as
active ns it WAS two months ago. There is,
however, nothing unusual In this. Business al
ways gets dull in the summer, and, on the other
hand, a comparison with last year shows that
there il not only moro business being dono now
tllnn at this time last summer, but confidence in
tue prosperity OF the city, the increase Of its
trade, tho incrcaso Of population, and tho exten
sou Of tho suburbs, il eyou stronger than then,
alll tho amount Of capital coming from abzoad
for Investment in real estate ia 1argor. This is
not entirely money from older Statca in The
East, but comes in Anlll sums as we'll as largo
onos from dozonB Of towns and citiea in the
West-1nany OF them west Of this city. Whom
tho capital Of business mnn in ono of tho
Western town Or cities grows disproportionate to
tho scope Of Lis local business, ho puts portion
OF the surplus in Chicago real estate as tho
safest Investment md surost to pay a profit that
tho Weat affords. Thus the surplus capital not
only of tho Eastern but Of some Of tho Vest
orn States, ii stoadily concentrating here to
mako Chicago tho metropolis Of tho Wost.
Many Of our own citizens who are Interested in
real estate values tix their nttontlon exclusively
upon what ia being dono by a few speoula-
tors horo in Chicago, and wonder how
portant fact tha. tue rise in values ia not the
mere delusiyo effect OF tho said spooulators buy
ing and selling from and to enoh othor, but the
result Of tho steady investment Of capital by cti-
IONS Of other places, who arc far enough from
tho city to bo ablo to form o more unbiased opin-
ion Of its prospects, than many who are in the
nldst of it's e1cltoments and janglea about hot
conn., railroad frelghts, now railroad routes, new
suburban towns, ETC., etc.
SUBURBAN LANDg.
Tho Grontest activity In this class Of property
continues to be in two general directions !:
westward on both aides tho Gaiona Diyi-
sion Of tho Northwestern Rai]road, as
for as Harlem, and southward along tho
various lines Of railroad that converge at Engle-
wood, Washington Heights, Cornell, and South
Chicago As instances Of what is being done in
the why Of improvements and HaleB Of land along
tho principal line Of
WESTWARD EXTENSION
it may be mentioned that since spring about
dozen houses havo boon built in tho district ono
quarter mile square noas south Of tho new North
western cat-shopB. Two Of the principal build.
itgH Of tho Northwestern Company's ahops are
NOW abont complete, md tho foundations Of four
moro are laid aud will be completed next spring.
Lota surrounding the Hhopa are boing sold at
from $50 to $50 por front foot, and mechanics
who are buying tfiom intend to build and make
permanent lonloe thore. Ono yehr ago, the Gu
tire tract included in Section 10 was an opon
prairie NTH scarcely an indication Of improvement
QI lily Alllts, AAQ GuulH uaYu u9Hn pOuEHE Tor
from $4,000 to ga, 500 por aero. AS shown by the
proso1lt aaoa Of lots, tho value Of the Same land
NOW ID from, $4,000 to $1,000 per acre.
tract OF ten acros on Madison street. one
mile and threo-Quartera west Of Central Park,
WIS sold O year ago for ST 200 per acre; waa
sold low inouthH Afterwards at 81 600 nor acre
aud subsequently ns Sl,800 por acre. 1t was
sold again, ton days or 80 ago, at $4,000 por
aero. ..-
Another tract OF ton ncres at Oak Park, nearly
Opposite the Uuivoraa!iAt Church, which waa
sold Oct. /, 1871. for $1,000 por aoFo, Was sold
ugaln last Wook by sloaAss. Snyder i Leo fol
$500 por aero. 1t III true TINT tho land bo-
tween tue stations on the railroad, At far out aa
Harlom, has not advanced ~ much aB at tho 8ta-
tons, wAoro tho coavonloncoB OF quick transit to
md from tho city arc building up suburban
towns, but the above inntanccB n1e fair index
tions on tho si1 milos OF road from Central Park
to Harlem.
WASHINGTON HEIGHTS
is, howoyor, tho place whnre thoro Ia probably
the greatest activity in the Ealoa Of lanl Just at
ptesout. Aside from tho facts that it la 4 boa11-
tful place, aud that 1t haA tho advantage OF quick
and frequent suburban trnnH to the Michigan
Southern depot Which is only fow blocks from
lilo buAinosa centre OF tho city tho improve
mont Of the harbor Of. South Chicago, and tho
probability that portion Of tho tonnage aud
manufacturing bl.ainogs now done along Chicago
River must eventually find now quarters nj
South Chicago adds yaluo to tue land
ut Washington Heights as ono Of the
nearest piacos for = good class OF rosidonoos.
Tho Rock Island Railroad Company arc now
building truck from Washington Heights to
Aou.t4 CAicago, and will probably complete 1t