, 1873-02-03

The most prominent feature Of the real estate
market Ia the demand for nearly all clasaes Of
residence property, both improved and unim-
proved. Ihcro is quite IN active inquiry for
trst-clnss residences costing from $780, 600 to
eS0,Qo0. The fact is a little remarkable, because,
In timos when money is tight, rs it has been for
tho last threo months, this clasH OF property is
usually tho hardest to eel. Wc cen give no OK
~plana.on OF It except That ,noneyed mon (Which,
IN some instances, iii known to be tho caso) look
for nctiyity in trado and prosperous
times next spring. n,il think The present pressure
for money the beet opportunity to take adyan-
tage Of the necessities Of owners Of such prop
erty. The domaud is equally good for residence
lots at pricoH ranging from $50 to $3.50 por front
foot, and builders arc beginning to inquire for
lots suitable for tho erection OF blocks of dwol-
ings that can bo sold ut $4,000 to $4,000 for
each house aud lot. Tho demand for residence
property extends to suburban lands, and tho nt-
teItion Of speoulatcru is directed mainly to acre
property. During tho whole OF 1874
there was very ,littlo building Of rcsi-
denccs of any class in Chicago; the
whole attention Of builders and contractors
was turned to tho rebuilding OF tho busiuose
quarter Of tho city. In the meantime, tho popu-
luton OF tho city has increased ut least $4,000.
These facts a1o sultlciont reason for tho i'll
creased rents and the increased demand for
dwellings.
Bus1SEsa PROPERTY
II is difficult TO eell business property except
on certain utraets and within certain limits.
.otwit hstanding the vast amount of capital that
LGs boon expended to draw trade into new locali-
tieu, there Ia nh evident tendency in business
to grayitnto back to tho old centres. FirHt-caes
trade Laa beop permanently located on D1adlaon
aud Washington streots, III lar WeRt Us tho river,
md on Wabayl, nvonuo aSs. far south as Van Da-
ron, but will, these exceptions no permanent ex-
tonAon Of vst-clasa traiilc haa resulted yet from
tho ilre. A good many tlno business buildings
have been built III ot1or new quarters, III tho
hope OF drawing trade to them, and though this
ioBut will doubtless DO etfoctol In time, thoro
TecnlH no disposition on tho part Of merchants
to try the experiment now.
There IL now hWrpli5 Of business buildings
sNor tho requirements OF trade, and this being
The ease, merchants naturally concentrate In the
~! centres, leaving numbers OF now buildings
j now quarters without tenants.
nA;KEl'B OPINION.
Ii u complete history Of the accumulation Of
wealth by lnlliyid1nla n the United States could
l,o written, Il would undoubtedly show TINT moro
,ic., i,nI Grows rich by tho lncveaso In yalue Of
r.ssll estate than i'll my other way. Notwith-
,ta.n.; tliH, 1t is faoe that bankers gonorally.
aul a4o tho heencst claus Ut Spectators tho men
lilo hautlo bonds and mortgages wlto leat in
Luckau,1tl manipulate the ymarkets nreu ucliu-
I'd IL look upon what they call roal estate spcou-
l:ion" with G toolluE uiightly akin to contempt
/. aecm0 to thum too oahy a plan of lnaEfn.
,Aauoy; too easily comprolsnded by tho duilest
l.,;nllccta hal fnr llis very rcaaon, they canuot
Aloat Themselves Of tho Impression that thelo IL