, 1873-11-09
REAL ESTATE.
Continuance Of a Fair Business in tho Sale
Of Cheap Lots.
The Desire to Own Homes--0hanges
in House-Rents,
Recent Sa'es-.-The Belt RaiIway.--The
New Northwestern Shops.
Transfers for the Week.

AAe4c III uttlo 10 6AT hnuHt LILO Couultl0n OIL
tile roal estate market. except to repent sub
Htantially what was said last weok, viz. that
thero Ia still an active business In tho Balo Of
cheap lots in tho suburbs, md but little doing In
tho highor-prfccd property in tho central part Of
tho city. Tho fact is that. o1copt as regards
business property. the traffic In roal estate has
bocn affected by tho financial crisis loss than nl
most nny othor branch Of business in this city.
We hear, almost daily, Of ot1ors Of money from
parties In both Eastorr and Western towns for
lots in Chicago. A largo proportion Of
theBo offora, however, result in nothing,
because tho parties Who make them expect to
buy ut largo reductions on former prices. On
tho other hand, ne hoar of several pieces Of un-
improved medium and frHt-clnss residence
property. In somo Of tho principal residence
quarters, being sold for from ID to 20 por cont
less than waH demanded for 1t boforo tho panic.
But in evory sucl1 case tho consideration for tho
reduction in price has boon largo cash pay
uaent. ANY ono who is obliged to sell roal estate
at any time, Of course, only docs 80 to get ready
cash,-an article which, as everybody knows, Is
so scarce just now TINT largo cash payment
can only DO Ind by IN important reduction in
price.
Tho financial crisis, which has now lasted teyo
months has had tho OBJECT to turn the attention of
alargo clasa Of small capitalistsand aalarod mon
to tho consideration Of the fact that tho boat
thing man can hive for his money, and the
first thing ho ought to acquire with hiB savings,
iB d home In tho nuah titnos and speculative
spirit which prevailed for several yoars up to
two months ago, there wns o great temptation
to speculate or trade In something that luctu-
atod rapidly in price. The marvellous increase Of
tho wealth Of some Of tho groas spectators in
grain OR stocks;;:'' or in new trado md
manufacturing ,schomes, had imbued tho
whole people Of this country with IN
inpationco to make money by somo sort OF
Ananciering. Thousands Of men wcro fascinated
with tho example Of the stock speculators in New
York or tho grain spectators of Chicago. They
wsre ambitious Of making In one day. by ia
turn in wheat or corn, or Rock Island or
Northwestern. or somo other ono of tho hum
dred modes Of gambling, as much profit as O
years aalary. TO oil who had become in
fatuated with this inpatient spirit of Bpcc,,-
lation, tho investment Of money in a home
bad become an "old fogy," conservative idcn.
Wives, who saw that tic fortunes Of their
husbands woro daily hazardcd on tho luctua-
tinns Of prico Of some commodity or fancy
stock, often urged tho securing Of q home Of
hei,' o1cn. FREQ from tho monthly calls Of land
lord. But tho usual answor of tho husband to
this was that lie could nuke moro out Of bis
capital By using it every day in trade or spceu1a-
tion. If lo locked ittp in homo he could got
hc could always prove by lis fno figures, was
too small . profit. But now tho day
Of speculation il over; money is not
90 easily borrowed, and tho occupation Of those
who traded on margins has gone. Economy in
Men who dcspised tho modest homes which they
would have been ablo to o,on, and proforrci
living in the moro protentious ones for which
they could only pay rent from month to month,
find that they must change their scale Of oxpen-
tlituro hence they must look for chopper and
smaller HOUSES A change of this kind il always
humiating. and they regret that they did not buy
tho smaller house when they wero able. Notwith-
tempt to prove that it is cheaper to board at q
hotel or private boarding- house, it is certain
that tho economy in dress, washing, and many
other THINGS TINT can DO practeed at home, aro
Impossible III public house. Thus, tho atten-
ton of many man is now turned to the acquisi-
ton OF a cheap home, who would never have
listened to it in tho flush times Of speculation.
DWELLING RENTS
Tho change in the scale Of living expenses, NJ
explained uboyo, accounts for tho greatly in
creused doma1d within the mast month for
lousos to ront from $50 to $50 por month, and
tho falling of in tho demand for resi-
tlenceB that have rented for $1,000 per
nnnum and upward. It soomB protty certain
ner cont in tho rontala nf III 1oacncoa ~ ~ a ~
huye nommnndci M n,,,c, aa sim 1'or montI' n4.'
villa nv tha othor 1,anI t1,ot law ra,
o NJ So5 n si ncr month III; ho ,nnro =, ~
mand thon ayar. "''' ~ D'o'o ~ W.
A'H~ 9r,arn ~. t. onna;5oro1,o aaran, +o
ro,.ar;n fron, sG mn ~ 40 mn lu' M Iss'usncob
Xix Lt It ia itIct to ina e,,c W dcoI1;r9s T ~
aaio n,ne o"' ~ - o&:4e' ~ LIZ" BULL o"eulea ios
0'1''' .cnr a.1ra
c,s,;n t. ,vot,oco u"s soEs :" as~ n,ro, h.; D,.
j., nn1a G"stn { Wa1nc9'a .'SlSs' ne,ns t3och
= al, ~ n,.;Iorat,a 81 o75 Ato ~ 10 tAFk
or6, Mnac1,a"r ab,o;o 1.so, W so1 1t9s IN
consdoration % sh al O'A @''o-4 - sAA 1''aeo;
eo4euot 4e!. In''na Htun' ns11 ~ III r. r5.
r,,sea1; T., ~ aeros 4oeatca "a
oa ran the rnnrtu - 1am, aouu! ID
sGn en5n 49, t.onr onro 'no cohslaoFaslon.
7opp M pSt ~ aT.o: Ior, .o,a ,xoa - ~ =, -
s.an,;a ~ Tramf nua aeauo 'u QUO 40, 20. III
atuoot nj aaso aFGnuo, near s'Ssrst
ott1He, ~ 80. .oi.etno1a.a9a' ~ Hoou pol ncfo.
ro1dy I1nayor GO: 500 a. private R9!o - acres in
n;,4 @ ~ ~ "asn'nEto3; ~ Hoehts being
ation aim nnr u acv, ~, III ''o ~ o' 10; cohs'aor