, 1873-03-23
The Speculation in Suburban
Lands Still at Fever Heat.
The Extension Of the City To-
ward Humboldt Park.
The Town Of Lake Vic,7 Getting Walked
Up~-lmproyeaents at Ravens
wood.
The Extension CT Dearborn Street,
With Some Interesting Notes
Oh the Assessment.
The Tendency Of House Rents
This Spring.

Some Prominent Bui1Gings--Sunc-
1ncry CT Transfers.
The great feature In connection With real
estatc ut present continues to be the speculation
In suburban lands. Tho instances givon in our
fssue of last Sunday, showing that there had
been m average rise Of about 100 per cont in the
prices of almost the entire district known tho
Blue island Ridge since last year, Boom rathor to
stimulate the activity in speculation than to in
duce any extra caution about Investments. 4
good many cautious people shake their heads and
say, Well, this thing can't 80 on slways!" But
when We come to think Of it, these same rise
people hayo been saying Just the same thing
about all property in Chicago for tho
1.st half-dozcn years, and while
they have been shaking their he2ds and refusing
to take any interest in it, poor men have grown
rich BY the rise. Perhaps no bottor instance OF
the rise in values during the past six years can
be given than Of the property on tha avenues
south of Twenty-Eecond street, and IS far As the
city limits. Six years ago. lots ON Michigan
avenue, in the neighborhood Of Twenty-fourth
street, were hard to sell at $50 per front foot !;
on Przirie ayenuc, from Sixteenth street to
Twenty-si1th street, values ranged from 500 to
800 peE front foot and on Calumet, at about the
samo prices or lower. The came property sells
now at from $500 to $500 per front foot, and
many man who considered the prices OF si1
years ago too BIZ for prudont per-
con to pay, feels perfectly satisfied
that tho presont prices arc legitimate.
and that the property is worth the money knd
many of tho very men who then sald prices were
too high, have bought since and paid three or
four times rs much 50 they refuBed to paJ for
tho same property FIVE or s1 years ago. Nearly
the same percentage Of rise, only on lower scale
OF price, has been experienced all tho way out to
Englewood in one direction, and nydo Park in
another. Il the rise in values in other directions
has not been great, it he's at least been enough
to give purchasers greater profits than they could
possibly have mado in any other kind Of invest
ment. When any man has maGo considerable
sum Of money more rapidly than he contem-
plated in his most sanguino expectations, he
turns conservative, begins to fear losing it, and
straigAtway begins to realize bis profits. His
first rnistake was that he was shrewder than tho
average Of people because he did make money
rapidly, and on this mistaken hypothesis
trnagines ho can 'see further ahead than other
people. This, however, is only human nature,
and shows hoIT succes8 Affects moro than nine
Aeukl1h u lAU6o HAO EApG4AGANo L.. AS AdA 45
the real estate business is concerned it is we'll
that it should be SO. II it we're not, none Of the
present holders would sell, and tho very fact
That they would cot, would prevent the improve
rise in values The earnings Of tho mcchanic,
the surplus profits Of the merchant,
which now go to swell the volume of capital that
improves aud eus:Rins tho value Of real estate,
could not be invested in it. The lnducement
that drnWB large proportion Of our annual in
creaHa OF population would be wanting, and land
monopoly would stand in the way Of the
progress OF tho city and its trade.
In regard to tho land along
BLUE ISLAND RIDGE,
in which speculation ia most active Just at
present, it may DO said that it has only conio
into prominent notice during tho last two years.
For several years previous it was difficult to sell,
while property in other quarters wss rising rapid
II IN value. It does not necessarily follow that
the land IN other quarters where speculation Was
most activo year or t"o ,ago Will decline IN
xapidly enough to satisfy eny reasonable in
vastor-
EVERY AcCEss1DLE QUARTER
of the suburba gets its turn in the lead OF nctiv-
fly of speculation, though this il governed very
largely By the concert of action among the land
owners in making the fret improvements and in
making thoir ucighborhood easily accessible and
desirable place to lire.
TOWARD HUMBOLDT 7AEK. ]
pf s. ". Il Of S. E. Il OF s. ". Il Of Sec. 2, 80,
i3, fronting on Chicago xvenue, just west OF |
Hunboidt Park Boulevard, for 50, 500 per acre. |
G2is property Tea offered EoEnething orcr year |
adered for 81, 900 per acre. |
0ue OF tho et1otts OF tho great fro wcs to |
1usfor 3 large proportion of the North Side to |
= neighbcs1ood Of tho aItesian well and north
IL OF Tint toward tho rolling nilla. Hundreds
f1 7echanics and laborers rho Ind lived in their
wr .honaes in the district between sedgwick
re ei and the North Branch lost their
ou En by the fro. but wore sbio
81 Crther lots for enough to buy others In tho
ort iwcs.ern quarter Of tho city about tho juno
1ou, =, left to build small wooden cottages on
lem The result has been I'll immense amount
: Til t kind OF building along those parts Of
ilwa- laee and North avenues during the last
car. Tho new quarter to which Eo many or
1899 3saople have morea as if BY one common
apuli i. is really healthier and pleasantsr to
We in than tho ono from which they vera driven
: the fuo, and if their present homes arc not
!ready worth more than tlelr old ones they
Don II IN be.
7R o5s,Ess AID PROJECTS n LAKE E1Ew.
Tho 'rareting Of residents of L1ke View, on
hura' isJ evening", reported bI'ens M n our % asnne
- r,1rf6cz who arc in fav.,r OF tae Ul1neLlato an
,era4,on Of the e.*..nernmo5t portion OF Lake
= .;a.r ~ ch;c+so. But these found themselves
nr}.,1r -afnumbared in the gathering By tho op-
.EsShts Of the measure, and the aseambl.se
ound itself aflo.t on sea OF wrangling and dis
greemcnt, IN which the aim Of tho coming to-
,ethcr fell plump to the bottom. TIE intention,
,oweyor, is QUO tlle neighboring property inter-
sts should take into consideration. Tho popu-
ntion which propcrty-owners in Lake View
re now inviting is essentially Of city peo-
lie, and demands that city privileges shall
each them. They, want Gas, water, side
'a1ks, sewerage, aud the abatemont Of nuis-
ncea. II local authority secures them,
hey prefer to escape the higher taxes Of tho
ity. Towns like Lake FieS must DO liberal and
'ide awake, or they cannot escape the dismem- !
orment they natural; oppose, end in tho late !
1stance kayo apparently defeated. There is no
appy retreat fer IN old fogy anywhere in the {
uts.irts Of Chicago, 6iuco farm lands hare boon t
taxed into city lots. II Lake View wishes to {
3ceiye 25 ,000 nov Inhabitants in tho next few T
aars, she must como into tbs line OF generous (
or the now-comers will DO rost-