, 1874-04-25


the demand for houses renting for from $40 to
$50 Per month ia very much greater than tho
supply. Hero rs elsewhere many, formerly
householders. are driven by streee OF circum-
stances to economize By betaking themselves to
boarding-houses, or to tencments cheaper than
those which they arc nt present occupying.
This has had the double effect OF increasing the
number OF houses to let, and increasing the
number OF applicants for cheap houses. Tho
supply, on the other hand. OF expensive tene-
ments far outruns the demand, and thoy are
q drug iu tho market. But fow special facts
statement, the truth OF which will be recognized
bosh by those who have been hunting houses
and By those who have been renting them.
There has, in general been 4 reduction in rents
ranging from 10 to 20 per cent. landlords
make unusual concessions to good tenants in
= HOUSES tkat - easily rented for $1,000,
Tie. reduction IN cheaper rents is less,
and in many localities Oh tho West Side, and the
North, the demand for small houses has been so
sharp as to uphold the prices OF last year.
In the case Of stores On the West Side the de-
mand seems to be good, but rents have followed
tho aa1no cou1se here "a ii, other quarters. On
West Madison street all the stores have been
rented. 4 store on West Madison near Peotla,
v.
Green street, on Madison. corner store has
rented for 400. Five inside stores have rent
cd for 81, 800 each same stores rented last year
for e, 600. At Peoi, and Madison street sro1e,
Of Psoria, two stores have been lot for 50, 500.
No. 29s West Madison street, 341l15, was lei for
81, 500.
Tho large dry goods house OF Carson T. Pirie
hare made great extension Of their store on the
West Side. They have rented the whole of Madi-
cfT atra ri
is 125 feet front by 100. AL the partitions that
now separate tho different stores are to
be taken down, aud the whole thrown into ono
large sa1esroom. They will occupy this store
May l. The first venture Of Carson j. Pirle, On
the West Side, was made q year ago, where they
took q single store, in the locality where they
now occupy since the five. They have found
their trade sufficient to justify them in taking
these stores for five years at an annual rent OF
about $4,000 year.
On the South Side rents exhibit the Same
fluctuations as in the other divisons. All along
the line of Wabash avenue With the exception
OF the northern end, rents, both for stores and
dwellings, have fallen very largely. South Of
Van Buron street, the avenue has been practical
" abandoned for commercial pufposes. It ID
hardly (for several years to Gomez likely to re-
gain the phenomenal business activity which re-
suited from the fire, while at the same time tho
recession Of business leaves the street dospoiled
OF the attractions that it once possessed for re-
had been used rs stores are let to boarding
keepers.
On the sde-streets rents hare fallen, north OF
Twelfth street, 20 per cent.
Around Twenty-second street, business and
house rents are firmer than in any other section
OF the city. except the North Side. east OF Clark
street. Stores as the corner Of Wabash avenue
and Twenty Y-secoud street have been leased at
the rates OF last year.
Property in this neighborhood will be in
creased in value by the improvement of the
Uhlich estate, and the widening Of Twenty
street. west OF State and the erection Of the
new depots Of the Chicago d. Rock Ialand Rail-
road.
On the North Side, east OF Clark street, rents
have risen. Houses have brought 81, 200 that
last year we're worth but 81 900. There are few
houses in this locality, and these are eagerly
sought for on account Of their accessibility to
businesa and the pleasantness Of the location.
West Of Clark street there has been reduction,
as elsewhere, OF Is or 20 per cent. This is tho
case even in the neighbo1hood Of Lincoln Park
Houses that hare rented for $50 or SG5 now
bring but $50 or 955.
There is great call for suits Of apartments
aud Hats. All the houses containing fats have
been rented at more 1emuueratiyo rates than
other tenement property. Mr. 4. T. Gait is
building three such houses on North Clark
street. The apartments are in Bu1tes OF eix
rooms, With closets, and are senting for $40 to
$50 month.
The main floor Of an Office in Parker Building,
15x75, With Two vaults, has been rented for
s., 900 q Jea1.
". D. Palmer has rented the large store under
khe Palmer House, on the Wabash avenue front
to Coan il Ten Brooke, and the Monroe street
store formerly occupied by Allen j. Mackey to
hfr. Bradley; the former for $4,000. the latter
for 81, 500 year.