, 1874-01-18
Activity Of Building in Suburban
Quarters.

nrces st which the property was Eeld last spring
sndit is probable that for some time yet parties
,hose affairs we're deranged by the panic will be
ob1red to sell property for cash, at some reduc
finn m former values. But in few months
tbssa will ali be sifted ont, and, as nobody hae
.ny doubt about the commercial prosperity ol
N, city, and there is no reason why they should
bsye any about the future value OF the roa
estate, these forced GALES will cease.
MONEY ON MORTGAGES.
Ne note that the supply Of money to loan on
mortgages is increasing One prominent firm
Of loan agents cay that they have funds offered
tn take mortgages to an aggregate OF about
faooo0, if satisfactory property almost any.
zhers inside the city limits is offered. The
ruling rate now on all mortgage loans is 10 Pc,
rent. On Sums under $1,000 higher rates are
n.id in many instances, but for loans owe,
tsoo0. and for periods OF five years and up.
rard, the supply Of money is 60 good that it il
oos=ible some concession On rates will be made
when the commercial market eases up again, as
his likely to do within week or two.
From time to time the papers of the neigh
boring cities-as, for instance, those Of st.
Louis 1ately-make great fuss over the fact
thst Chicago property is heavily mortgaged, and
ictimste that it is significant Of some dire event
we don't know what, ,and doubt if they do-that
isto fall upon our real estate interests.
lit is fact that Chicago real estate is more
heavily mortgaged than that Of other Western
cities, We think its only Significance is.
that capitalists both in this. city and
elsewhere are more willing to lend money
On Chicago 1ea estate than on property in other
cities, because they believe it will increase in
value more rapid y, and is therefore better se-
c1rity. As far as the commercial prosperity Of
the city is concerned, aud the consequent
growth in wealth and population, it would make
but little difference whether the bulk OF these
mortgages were held by capitalists of other
cities OF not. II they arc held by Eastern cap
iiaiists, it is at least pledge that they, having
sn interest in the prosperity Of the city, will say
md do what they can to increase it, the same as
they would it their permanent residence Was
here.
TIE ANDERSON HOTEL
property on the north Eids of Madison street.
Just east OF LaSalle, has been sold by Mr. James
:. Tyler to Mr. Harvey II. Thompson. The
up, though the papers will bear date of Jan. !.
Ihs property is fre-story building, which
covers the lot, C0x177, tho lot being held un-
del lease which hns yet 954 years to run. Tie
Price at which the property is transferred is
The balance in other city property. The build
Ing is now bringing in rental of s3o.o 900
pei annam I've have not learned
tha annual ground rent under the
iesse, but only know that ehorty after the fire
et October, 1871, before any OF the property in
that vicinity was rebuilt, bonus Of $40, 600 was
offered for the lease. When tho present build
ing wes erected, it was expected that the Open
Board Of Trade would occupy the rear half OF
tbs frs. floor, as the entrance is only across
Exchange place from the Chambet-of-C commerce
Building; but for some reason the Open Beard
never occupied the room prepared for them. and
it is rov occupied for billiard hall. While this
is transfer OF one of the most vnluable AID
central pieces of property IN tie city. the figures
do not furnish much information as to the mar
ket-ralue ct the fee Of the property. But If the
building DO valaed at 3l25>009. tie rental would
Indicate ya:ue Of about 500 per square foot
for the ground.
MICHIGAN AvEStE
property south uf tue city limits seems to be
attracting more attention than almost any other
residence property III the southern suburbs
Everybody seetas to understand that in view
Of tbs extension of the tirst-class residence
quarter eouthward along this avenue, it is the
cheapest first property III that part ct the
cty. week ago We mentioned the sale Of
so-toot lot, between Forty first and Forty-second
e!1eets price equivalent to S125 per foot in
cssh, lr- Ira Holmes has recently sold 200
ieet on Michigan avenue, between fotty-hrst
tnl Forty-seccnd raets, for 600, and Te
hear of an offer OF 800 per foot aA cash for
stroat. 1917. r1,r1' 60. ref,,SoJ
''1A" d. ~. u-.1s. Ian
NJ, Ho1roas eod az so1aa Weals arm Inn feat
,onar af ~ In.';saa o'u onna a7a fh;rtrn;ntE
etrast ,r;bo,,t ~ ON" 1ar son nn1 a,so
j0o ~ Nv Tnd;a1a s,,a,-,a ass+ fron} hatresn
f'h;r+r ,;.,41, a~S rs.;.L ',t-.oo4. For 31o I'm
4so ;oo 4aat -" ~, ua1,aah 1900 f,4,raar, Forty
eeeon5 md Fnr+r',h;r5 etreats wnst 1rcnt for
s1n nm a1.o 51n Faa4 nar1ar ~ Vofaah ava
ma md EortT-+b;,a ~ stIaat for soA I'm
oA'' ~ - 20, 80. NJ
4, ;nnort.,t cola Ans ,rss ~ rano,+1r ,,ado hv Mr.
Mn NiYo, ~ sAro rent,a1rar -, Roatnn anG cnn.
PARK fron,ins 10 ~ I'M faa+ -, 4ha rater Tand
future diraS 49, t!;+h an oonsf frontara m
Pine (;rora Inor ce1Iad Waphnn avannoS In the
rear. The Mo- ne;J sn,nrnts to SIM ner font
for ths jska froDtsaa pa sDI AZ ner foot fnr the
re.r nrn@as+1 49, S e1Sn ooa ~ ~ traet
and Esa m ;nfe.,asI tynn..,o1t;o-, -, +ha -7anal
tenns tba-a 1e;,,n a, (! - y - a-c,snra ~
other nroner+r s fos - r'ha iota boing OK feet
dean f sho,vo n,;na ~ no,r1g SIT mn ner ecra
for The net nrcnarir r erc1ns;re If atreets. There
Is hoEfvar .1fyor,aLia to,.sa ard mi. mia.
ines On nar} ~ ~ @,ra-,ar+ 1yer+h nrnhabl1- in
in ali a11 mn n,e1;pr H. ,3,ca ~ tha land ,iona
Elesst ak oo1 Ter asro P00 - 'S@''>N
In nnrroat;.-fI:.L -: .ln...5 ,1,, IN MN
sidare3 eestoI Nc ~, N.tn suie euoo.u a!a1 20 ~
Sboss ~: CuVets sades o1 properly IL IaAo t
oie aundlslslon and Cu1Ver'6 Adutloh, IRON
70 i OF q mile south Of the above property,