, 1873-03-16
The Movement to the Suburbs, and
Its Causes.
4ctiye Speculation in Suburban Lands"'-A
Great Rise in Prices.
Present and Former Prices Along the
Blue Island Ridge.
a Proposed Lincoln Park Hotel'--The
North Shore Driye---North
State Street.
Important Transaction in State Street
Business Property.


Business Property.
Transfers for the Week.
The characteristic feature Of real estate businca
this spring is the active speculation and Investment
suburban lands. Spring always draws people frog
the densey populated districts Of tho city toward
the country; but this spring several circumstances
taye consIdred to give an unusual inprlsi
to the movement. The fro Of 1871 not only
destroyed The homes OF very considerable pro
portion Of cur entire resident population, hui
the consequent encroachncu4s Of business on res1
dencc quarters that were untouched by the fir
turned 1uch larger proportion OF the people out o1
their hoes and suddenly bzoke up neghborhood asso
ciations that will never be 1eesablished In no large
city was there ever SO large portion Of the popula
ton turned looee to find homes IN the city.
Last year the attention ind capital Of all that large
and wealthy c1ass who owned business property Fas
absorbed in Tie rebuilding Of business houses destroyed
by the fire, and in rcmodeling that which was not
destroyed, to meet tho demands Of business. This
paramount necessity having been met their attention
i. now turned to tte selection Of new homes+ Three
prominent arguments combine to draw theso people to
tho suburbs moro strongly than under ordinary cir
cumst-nces. Firs::, They can not only buy cheaper
homes, but the percentage OF advance in values
Of the property Is likely to be tlrea times great In
almost any quarter Of the Eubrbs rs 1t Is In any Of
the present residence quarters OF the interior portion
Of the city and they must now make new noighbor-
hood acqunnanccs anyhow. large proportion OF eVc
Oldest citizens On the move" Sscond Tbs
experience Of the fire Of 1871 impressed upon their
rntads, as well those OF ncT-comcra, dread Of
being walked mp night from fancied security to
fly for their lives leaving to destruction MI tho homo
hrTfa 4kn ffrf-d
pictures and other objects thEt yalusble BY
reascu Of assoctated, memories than ten times
their n M cg 9as e. ont .1a aso ssnas stt n
houses within the legal limits Of the city, where the
average rate Of taxation has been increased nearly 70
Buildings and vartoas oes Items of Increase IN he
expense Of the City Government, which tho residents
outeide the city boundary escape and yet enjoy nearly
al the expense. To ell men who looking for new
houses these are important considerations, md hare
the movement to the suburbs this spring. Tho
speculative activity in suburban property In
duced BY & these 2 causes Us IL Is not only great
adganccs. Whether 1t has not already got
to point where prudent people must begin to doubt
the st.bihty ot Prices T. & question which every one
present prices OF suburban the prices Of
the saue property gcar or even Six months ago.
9qa% + sssT d5soa e @
felt the influence Of the circumstances above enumer
ated but the epecuatve activity greatest on two
One Of these we referred to last Sunday as including
the Property between, say, Randolph and Washington
streets beysnd Central Rask, nd from the aew
xade accessible BY the construction Of new railroads
mile two beyond the new northwestern car-slops.
stances Of even greater rise IN prices extends aong
.-------..-TEE Blue I81ASp R1DCE,-- =
from Eng1ewood southwestaard nearly to the Town Of
team s t! Or ioarteen nica from he 6ourHonae The
district in which there y tho greatest gpeculaiye ac
tiyty now nes parallel With The Rock Island Railroad
Blue Island. and Is about nine miles long BY say two
miles vide. Tbs most important nuclens Of popula-
ton and improvement In this district is ut
WARRINGTON HEIGHTS,
whe.e there is population Of about 500 persons
centre af that suburban town at the junction Of Tracy
and Prospect avenues, which centre is quarter Of
mile west Of The croasng Of the Book Island and the
THE RANGE or PR1CEs
within the mile radius from the centre, as above
described, ia from SIG and s15 per front foot for
lots l50 feet deep in the open prairie, to $50 and $50
per front foot in tho groyes Andon the Ridges where
The great majority Of the residences situated. Thia
IL the 8hes- land within radius Ct three or
four miles. In every direction from there the prices
ot land aro lower in proportion to distance.
The IT, 1 zangs Of =, prices and - tho e3tent Of
the following instances Of sales, ont of many similar
that have taken psce within tho 1st three weeks:
IL
of mile southwest Of the centre 1t
The Junction Of Tracy and Prospect avenuee sold
Thirteen blocks, comprising sixty acres in Morgan
Avenue Subdivision, threc-Quarte1s OF mile south Of
he centre have been sold foE rs This
ago by the Blue 1sana Land Company 1t 1Do per acre.
tract OF forty acres hall mile directly west from
Railroads sold within the Last ten days 5000 per
seTe @ IT, e1ghy acres ns1t south Of the above Tere
$r1f
whs: y has recently sold for-
One hundred and sixty acres in the N. Y. X OF seo-
Washington Heights stauon. on tho Rock Island Ral
road wss sold Last fa for $500 Since then it
11ss been sold three times, and each time ut rge 3D.
rance. The List sale (se last weekly Has ut s. 900 per
acre for the whole 160 ncres.
tract Of 2Io acres, in Section Il, In the Town Of
ington Heights, sold within few days at 500 per
arro The satue tract Was sold Inst fall for 500 per
tract Of eighty acres, NEXT southeast Of tho aboyc.
sold within the last ten days, for sGo0 pe7 scre
at M fal It Was sold far 1900 per acre.
The Blue Island Land Company bought, in 1867,
Enong other property in tho vicinity, tract OF
e1ghty acres adjoining the Rock Island R.iroad and
south Of The crossing Of the Great Eastern &C., C.
Fof& ta5 th.z ss 81 PER st.si5s ss5s
:orner Of the tract. Since then they hsve erected
ssres IN town lots At from s2oo to 500 each. The
sonth acres hey have just sold at $3.50 per acre
a1es N114+ uey palQ 1of II El1 years
On Tuesday Lat, tho whole Of Section 35 in the t
Town OF Lake, being about three miles northwest Of
Heights, aud three miles southwest from |.
Tas sold at $500 per fog tho whole go
kcres. |
tract of 13o acres In the southeast quarter Of Sec
ion e. three miles south Of tho crossing OF the Rock
Island and c., Q. + l. O. Railroads vas cold, few
LAYS ago, for $2-25 per acra
Tho foregoing instances show that the average riee
n prices Of 1and within two miles Of Washington
4eights Station, On tho Book laland Road il near 100
cent ktnca LIST summer. For tho land On tho west
ide Of the railroad, and within milo in that airec-
ion the rise has been in instances over 100 pcr
cnt whilc east Of the railroad 1t has not been SO
auch.
L SPECULATIVE VENTURE.
During the closing days Of Inst month young gen
eu.n puchase, Of real estate agent in this city leo
cres N. r. sec T. 81, ls> for s32 oo, Of which hs
80 to psy 600 down OF this last sum he only
Ito to pay s109o but WAS allowed thirty days to Sc
ne tho Remaining s. co., At The end of fifteen days
. had sold the land for $4e, 900, thus making
10 COO in fifteen days. with but 81 200. Nor was this
y for In two days afterwards be offered 5000
dvEnce thls which would h2ye netted him, had ho
ct sold too eoo1, s24,ooo
AUBCnN.
new station called Auburn has recently been esab-
shed On the Rock Island Railroad, about bnf mile
$faT TrHvv. Eo1,no -