, 1873-12-08
REAL ESTATE.


noss in tho real cstato business thoro has boon q
very positive improvement during tho past weok.
There has been au increase in tho inquiry for,
and tho sales OF, almost al1 kinds Of property,
except tho highest priced busiuoss property in
the central part of tho city. The financial sky
has cleared up moro rapidly during tho past ten
days than during any similar period aineo the Of
fccts OF tho panic began to disappear. Money
ia becoming plonty, and considerable SUMS are
now beng offorcd on mortgages ut 10 per
cent. Tloae whose business 1t is to
lend, Of course, always talk Of scarcity, but 1t is
quite certain TINT there IL good deal Of money
coming hero now from tho EnHt aud from West
orn cities both for loan on mortgages and for
Investment in the foe Of real estate. From timo
to time, we have referred to tho probability that
tho loss Of confidence in railroad bonds and
Btocks, which have always absorbed 80 large
proportion OF the money set aaoat at tho close
OF tho year, would cause large demand for real
estate aa ono Of tho fow safe and profitable i'll
vestmonts now left to employ capital. A
week ago. wo noted tho fact that real
estate in New York City and its sub
urbs Was in greater demand, aa ono Of
Tho results Of this condition Of things.
But capitalists in all parts Of the country nre
beginning to rea1izo tho fact that whilo real CO.
tate in Now York nd in Bomo other Eastern cit-
les B throe or four times high it ishero there
ia no place in TIE United statos that has como
through the panic 30 well and with euch fayorn-
bic prospects for d largo and profitable business
aa Chicago. Other great commercial cities, both
East aud Wost, wero 10th to acknowledge this,
but ahrawd capitalists in all parts Of the country
hayo. nevertheless, found it out, md hundreds
Of them arc looking here for Investments
in property which they know will
advance moro rapidly in value than in any other
city. Tor several wcoks after tho panic began
to Bubside Tho groat majority Of capitalists wore
doubtful about the ndyiRnbility Of real estate
Investments, and, when tho purse-stringa were
first unlooBod, tho owuera Of money sought
investment in tho prime nacossIties of life.
Wheat and corn and pork and sugar and other
Blmi!ar things, they knew weEe 80 low that thoro
could be no loss in buying them. Consequently
there WAS, and is yet. large Investment
OF money in these commodities, and
m important riso In their prices has
been tho result but In January,
II not before, thoro will 10 disposition to roal-
ize profits, and to invest these prohts in somo-
thing Of q moro conservative character, which,
though 1t will advance much slowor, will not
react, but continue to increaso in valuo from
year to yoar. It is probable that many foreaoe
this, and that tho fnuroasod inquiry for real
estate ia the result. 1t il true that good deal
OF the transferring of real estate during tho past
ten days has been iu the liquidation OF indebted
noss, aud by foreclosure Of mortgages, but there
haB also been very positive incroaAo in tho
purchases Of property for the sake Of The i'll
Yostment. Several tracts of
suburban ACHES
have been sold In tho last few days, some OF
which We mention In another place below, and
somo for which tho transactions have not boen
entirely closed up yot, and tho parties decline to
giyo publicity to the particulars until thoy arc.
Ba!eH OF aorea west of Central Park, in the
vicinity Of the Northwostern car-shops, at Englo~
wood, at Washington Heights, Cornoll South
Chicago, and other noighborhooaH south OF tho
city limits, have recently hoen made ut prices
which Indicate that In each OF thesa localitioa
thoro is good speculative and investment de-
mand. ........
Among the most important sales by the aero, OF
ln largo fraots. 1nade within the past two weeks,
We note tho following:
MoBsly, ", n. Kerfoot l. 90. sold so acros
In the y " n OF sootiou SO, Town So, Range 13,
being on sevouty-hfth stroet, at tho junction OF
CeI.tre avenue (l5 1no west Of lIalstod streot),
for MI. George Taylor. to MeBsrs. ABhborno Il
Oilmoro, of Pittsburgh. for a18,000. ona-third
oael, aud balance in one and two yoars.
Five aorea corner Of Van Buron street and