, 1874-01-04
They Show Disposition to Buy Busi-
ness Property.
Eirst-C Glass Residence Property Chang
ing Hands.
Sales in Various Quarters.

NOUS report OF uea1lJ 2t1 LILO AT0A cSs@Io UAo1"A'
One weIl-known broker, who deals almost ex-
clusive.y in f1st-class business aud residence
property, tells us that whereas he did almost
nothing for nearly three months, up to two
weeks ago, be has within q few days made trans
ections to the amount Of several hundred thous-
and dollars, and that he has now not less than
three customers, capitalists from other cities,
who are here looking for chances to invest in
BUSINESS PROPERTY,
either inrroved or unimproved. Several impor-
ta,t transactions in this class Of property have
been about concluded in the Inst few days and
will then appear in the daily lists OF transfers,
but fol- the present the brokers are unusually
reticent about the prices obtained: and the re-
porter is Obliged to give pledge Of sccresy be-
fore he can get enough information to convince
him that this ambiguous talk about large trans
actions is not all CANNON. lie cause Of thls
unnecessary NERVOUSNESS about publicity, Eeome
to arise front tho fact that nearly all the sales
have been made at a considerable
DECLINE IN PRICES
t1pm those at which the same property Wonld
have BOLD year ago. As near as re eau esti-
mate. the recent transactions indicate an average
decline OF Is to
20 PER CENT
On business property generally. as compared
With year ago. On State, Clark. Madison, and
Washington streets it has not been anywhere
near 80 much, and probably few pieces Of prop
erty On these streets could be bought any less
than q gear ago, except in cases where owners
were obliged to sell within given time But, with
the exception OF the Madison street frontage, it
is probable that none Of the business property
west OF Fifth avenue, and - far as the river,
would sell for IS much es it waB held at year
ago by from Is to 80 per cent. The real es!ate
brokers, however, all claim, and with 6ou4e show
OF 1eason, that tie recent transactions in busl-
ness property have nearly all been forced sa1es
and that, therefore, they do not indicate any
property az ia offered for ea1e- It is true
that while the owuers OF four -ffths Of the prop
e1ty in the business district north Of Van Buren,
street, would not sell for less than the prices
not sell even for that) any property noW forced
to sale must sell for a good deal less than last
YEARS. price. 1t is q noteworthy fact, however,
that every one OF the recent sales OF buslness-
property has been made at from
FIVE TO TEN PER CENT AohE
than the aanec property could have been bought
for sixty days ago.
This upward tendency of prices and increased
activity IN connection with business property is
not quite SO positive IN connection With
F1nsT-C1Ass RESIDENCE PROPERTY.
Nevertheless more Of this kind Of property,
both improved aud uuimproved has changed
owners within the last two weeks, than in nearly
two 11ontns previous. In Q good many instances
the settlement Of the Indebtedness Of
the former owners In others the owners have
concluded to more further out and have ex-
changed central for suburban property and
little money, intending to build cheaper homes
and, in some cases. this has been the means Of
drawing new residents to the city to occupy the
more expensive houses thus vacated. The
Hough mansion on Prairie avenue, south Of
Tventy-Grst street, ia tho finest resldeh-e that
has appeared in the published list Of transfers
deed is e50.000, which is thought
to be from So 900 to $40 600 less than the prep
erty would readily have sold for year agso.
The handsome residence No Ito Calumet aE
terdEy as sold for S35, 900, was, We understand.
eft from q father 10 his daughter. 4 Jri 40x80,
On the corner OF State and Ohio Streets, was
sold few days ago for 81, 500, nearly all cash.
While this is q Attle too near to business to
be considered frst-class residence property,
We hear also Of other and much more desirable
property on the North Side being offered at from
10 to Is per cent less than the prices at which it
Tas held year ago.
: There seemH to be better demand Tor reEi-
denoe lots at from
$50 TO 500 PER FOOT
than almost any other class Of properly. The
great bulk Of this kind Of property is in the
near suburbs, and yet within the reach OF horse
cars and other oonvenlencas for doing business
in tbs city.
SUBURBAN. ACRES
in almost any direction but southTard and
southwestTard are very difficult to sell. We
hear of the EGle OF one tract Of Bixteeu acres in
the nortneE-t quarter OF Sec. 35, d mile south
west OF the Eridewen. for nearly all cash, but
the parties decline 10 state the price for publica-
tion, because it was very low. Wo hear also Of
severa; offers tor acres at various points south
Of the South tParks, but as the prices offered
were low and owners Of land in that direction do
not feel disposed to make much reduction in
prices, nothing important has been accomplished
in that quarter lately. The property within half
q mile OF the north division Of the South Park
is probably more firmly held up to former prices
continues to grow, and its extension along the
lines Of the various railroads running south
ward through Eng1ewood and Hyde Park
Ia shown BY the continual increase Of new
tke season when there is usually great decrease
ii the activity OF building in any quarter.
SOLE RECENT
sales which have not appeared in the published /!
list Of transfers yet arc as follows: |
r. D, Ke1foot Co. sold 3 lots On the corner Of
Eorty-eighth and Halsted Streets each 241119 feet
consideration, S. 600. Also lot o41l15 feet on Lin
coin street. south Of Harrison street, consideration,
Also one lot 231lGQ feet the northwest cor
ner Of John and Walsh streets consideration, $780,
Also lot 25x125 fect Twenty{fh street, between
E}rddNp and wentworth Ayenue9 cCQ6tQef1dony
$500 Also1 lot 24110u Doby1's street, between Blue
island and Waller street consideration, 81 000
Also two lots 63x115 feet, the southeast Of
Lake street md Crawford avenue; consideration, |
1, 600.
], g. Hafr Co. sold four lots In Block !, Kehlcr,s
Subdivision a1 LaN1ldale: consideration $2,5pD. |
Also two lots the sa,ne locality In Iwndale con-
H,20o- |
q. B. Painton sold ono lot in North Evanston con-
deradou, $500. Fowler & McDaniels hare gold prop
ty this week in Evanston amounting in Ill to 1850.
Henry II. Brooks sold SIX lots west OF the railroad,
,esr South EugIeuTood; consideration, s, ,05U.
OTHER RECENT EALEs~
Albert Crosby sold 70 feet Washington street. be-
seen Dearborn and State tope1a-House property; |
unstder2t1on, $210,00.
Charles Busby sold 20 feet On 1ake street. Is
ale consideration, $50 CO., Also So feet on Clinton
kreet, near West Lake; consideration, t23.582.
The Methodist Book Concern sold 20 feet on Wash
setpn street. east Of Dearborn sdoraticn, 49, 200o
Mqrey Magiu sold No. 625 West Adams stree, with
consideration, $t2 600. Also, two lots
Adams street near Leavitt; consideration, $95 per
>ot Also two lots at Wicker Hark: consideration, |
II both 81 &c., Also, two lots Il the same subdiv1s
n consideration, 1880. Also, $50 feet Michigan
7enne, near ForJ J-hst street consideration, s125
II foot. Also, SO feet On the northeast corner Of
adtson and Carpenter streets, with Improvements;
|nsldexation, $33.ooo-
SATURDAYS TRANSFERS. |
The following instruments we're fled Tor rec
I'd on Saturday, jan. s:
CrY PnoPEnTT. |
IT, N-t