, 1873-09-07
REAL ESTATE.
The Volume Of Business and SpcCula-
tion Rapidly Increasing.
Reasons for d Rise in Prices in the
Next Few Months.
Present clcapness Of BuiIdina, and
Its Effects.
oomo Recent Sales by Auction
and Otherwise,

some Recent Sales by Auction
and Otherwise.
Iho steady incroaao i'll tho activity in real
estoto during the last few weehs Ia shown, not
only by tho creator number Of porBonB III tho
roal estate offices, but by tho increasing volume
OF transfors recorded from dny 10 day. Tho
avorage weekly aggregate consideration Of doods
l1lod Tor record now III nearly double what It WIS
in July.
There is usually Bomo increase Of sales OF
realty in tho fal but in tho proacnt instance the
iucroase is greater than usual and arises mainly
from the extremely favorable aBpeut Of commer-
csal md financial affairs in tho West generally
tls fnll.
As tho trado Of tho Northwest In concentrated
in this, ta netrupoliB, tho effects of tho proB-
perity OF tho groat whcat-raisng region this full
Is be'ng concentrated in tho satno place. lilo
wheat crop of 1878. In tho country tributary to
Chicago will probably soil for s10000,U00 or
Sl6,oeO.00o moro money than the wheat crop Of
tho samo territory in 1872. uoro la tho basis for
lalgo increase Of trado. Thnt the greatest
e1oct of this Increase Of wealth to stimulato
mercantile and manufacturing business will be
1els IN ChicaEo, tlore call DO scarcely doubt.
Tho results Of thls will, Of course, bo IN in-
creaae Of population aud wealth which will mako
III increase in the value Of real estate in the city
generally inevitable. Tint tito increase in VAL
ues Ill some Quarters Of tho city will bo creator
than in others, thcros nod doubt; but in tho prce-
ent aspect Of affairs thcro IL probably 10 quarter
Of the city or ita suburbs wLero roal epta.e will
not exrcrlouce tho etfocts Of tho general pros
perlty IN groater or less degree Within the next
Iusr
move BLOW compared to pricos Of COM
Modties. In fact, thore is little re-
ee1nblunco in tho laws governing them,
Real estate, like bonds and socu,itios represents
The Investment Of The surplus profits Ut trade
and industry. For this reason tho croatest do-
mand Tor real estate il not to be expected until
sno groat annaa' activity in exchanging products
thou TINT producers, manufacturers merchants.
and spocuiators know how much they lave made.
md how much surplus profit they have to invest
u something OF pelinanent value like real estate
greatest legitunato dcmaud for for reai 'a oetnto @
.nak WI! result from tle present commercial
prosperity Of tho Wost will probably not bo OK
poflencou until noxt Fobrualy or March.
INSIDE RESIDENCE PROPERTY.
, Within the past ten days there RppoarB to be
eo1Hluetnble moro inquiry tor what IL called 'irl-
side residence property, that is, for building
lots et4 nt1eots wAoro tlere are payomcntB, side
@alks, Eas, water, and nll tho other convonieuces
Of city lille. not more lllnu two OF three miles
from tho business cuutre. The ca,1BoB Of this
bettor inquiry are, frat, that tho cost Of building
III very cheap res donco that eighteen mouths
ago would layo cost ~ ,u00 to build, can now DO
bult Tor about $5, 900. On a cheaper claus Of
houses the percentage Of reduction is not SO
great, and the smaller tho house tho loss the
po1cautago OF reduction Of cost. Another
reason for more Inquiry for usido residence
property iB. the general belief that the Increase
OF trudo in tho city "lil mako a grcater dotnand
within tho next year for residences for mer-
tlantH and traders generally.
TIE SOUTH CHICAGO RAILROAD.
Tho work OF ElndlnY for tho Bulth Shore Rail
soa1 from Park Sido Station to South Clicago,
was begun lAst week, aud iB now progressing
along Soventy-tlrst street. The contract is that
the road is to be completed aud ready for oper.-
na lion IN s5ty d1ys Mr. Eff E9g 81 The j.
which wlll ~ be put down OH this four miles Of
road. Tho prospect nov appears to bo TINT
within the noxt three or four months tho Hyde
Park trains Of the Illinois Central Railroad will
run all tho way to South Chicago via beyeuty-
hrBt street auu Railroad avenue.
NORTH s1oNE DRIVE.
Tlo right Of way for the North-Shoro drive
has been secured as fur south aB Division street,
hnd, wo understand, there iB movement amol,g
.somo Of tho rroperty-ownors to got the right of
way, ~ fur south Us Oak street. Tho Lincoln
Eark commissioners Goem to tako yo1y little ill.,
terest IN tho niatter They tried it onco, and
owuers Of apochryphal lots at tlo bottom OF tho
lake TINT they got dHgustcd, aud layo. by
q sort OF taeit Understanding, turned
the whole business Of negotiation over
to u aelf-appointed committee Of
North Side property y-ownere who haye, aB nbove-
mentioned, secured the right Of way as fur sonth
as Division street, aud probably by next week
will have it to Ouk street. They ray that If they
meet with my serious obstacles r acquiring tho
right Of way south Of Oak street tloy vii not
bother with it south Of that puint but will leave
1t to the property-owuora most Interested to
complete.
There il not much uze in fmuroy-
ing the West Side PARKS unless tho
city alltLo1itieB do sometbinr tn mnko
tltom accessible Eentral Park herinB tn link
worry beautiful in the eastern narL of thu
grounds but, for all tho good Il does nnyhodv in
Chicago, it might as we'll bo twouty miles away