, 1874-04-12
Reduction in Rents Of Hgh-Priced
Dwellings.
4 {,,f k of "FIats" to Be Built on
South Clark Street.


+ota a ehuttlecock of tho currency. Men wish
n know ghe1o they stand They want some
h,xs On which to calculate, and real estate
saalars. Ike all other business men,
,ra loud in denouncins Congress for not
,,eed;17 dociliug the fl ate Of the currency one
rar or the Other. There has been fair amount
,{ husincss transacted, aad q largo amount OF
property has charged hands. Many persons
rom abroad have been in the city looking
It c7ooe,ty, with the intention Of returning
md investing. Outsiders like to put their cap
it'll in upimproged lots Or in acre property, and
Isl it lie to increase in value, They do not seek
N much after improved lots which involve look
trg after houses, keeping them in repair, and
collecting rents An average number or trans
fers htye been made in improved lots Tor resi-
deuce and business purposes.
The Lake Front.
Il is pretty well ascertained fact that the
r.son Why tho pr posed sale Of the three blocks
# ground on the lake front to the Michigan Cen
rnl Chicago, Burlington d Quincy. and the Lii
nus Central Railroads failed, WAS that the railroad
companies refused to be bled by certain Alder
tren who thought they ought to make some
Thing out Of tho transaction for them
selyss. When it became apparent that the
bribery, the railroad companies Withdrew
hi he sale might yet be consummated, and
the depot built, It the city would accept tho
esN,00D, either as sale or as stipulated sum
10 damages to be awarded in case OF condemns
too. The objections entertained by the rail-
mad companies to proceedings in condemnation
are, that when such proceedings are en-
tered upon, unless a stipulation is en-
tered into between the parties before
award, and the finding Of the jury in the case is
Judgment collectable by execution, so that it
would not be possible for them to back out. even
ii the award should be TWO or three times $780,
600. They think that $500, 900 is more than the
property would sell for, and that, measured BY
other recent sales in the city, it could not
fairly be- appraised at even 30 much as that.
Nevertheless, they have q lively apprehension
pf the possible finding Of the jury in railroad
ease. II the city will agree to stipulation IS to
probably be no difficulty, even yet,in accomplish:
Ing the obiect sought without the payment OF
nny money to hungry Aldermen.
Failing to secure Other: grounds, the Chicago,
soon to take their passenger business elsewhere,
In which event the Michigan Central would fol-
low NTH theirs, although. their freight
business would remain where it ls. In
khAt evenr the Baltimore T. Ohio Rail,
ro.d would join with the Illinois Central
and bring their passenger business in on the
Lake Shore, and tho two roads would make an
effort to secure from the city smaller piece Of
ground nearer to their existing track for phs-
ssagsr depot na9nTh0 t,s n, tho real "a sstats ths
city are in the same qrag-
rnire that they have been ever stnce the fire.
The erection of q depot would make that prop
erty available and valuable without det1actlng
The depot, it must remain practically worthless
tor long timo to come.
Acre Property.
/ few DAYS ago We recorded the sale by the
Calumet l. Chicago Canal and. Dock Company,
northwest quarter Of Sec. II, 81. Is, at $500
IN acre, one-fourth cash, the balance in one,
't8o, and three years. Mr.. Charles G. Harris
vas the purchaser. The same gentleman since
bought from Ulrich l. Bond an adjoining
90 acres in the same section, being the northeast
quarter Of tie northwest quarter. For this be
psl 81 600 an acre. This will give IN idea OF
tie value Of land in South Chicago. The last
purchase Of Mr.. Harris is choice property, being
high lard covered with trees and shrubbery. 1t
Is not definitely known what use the lind VIII be
put TO- bnt it is understood that A1r. Harris rep
1cseata some manufacturing firm
It. D. Kerfoot 4, Co. sold acres west OF
California avenue, fronting on Van Bnren street,
{or S25,000, or IS, 600 an acre, and the Clncln-
nati parties who purchased the two ten-acre
blocks On Western avenue and Sixteenth street
month ago at $4,000 an acre were u the city
aud took possession by paying $40, ,CO0 cash, be-
Ing one-third OF tho price, the remainder falling
d7s in one and two yea1s.
~ heE, Dawson & We1ch sold 80 acres near
6no Island avenue at $3.50 an acre cash.
There Is demand in other cities, especially IN
Cincinnati, for ecro property in Chicago, and
many Of the moneyed men in that city como mere
t. invest. Several Travelled around the out
ekifts Of the city lnst week. and announced their
Intention to return and purchase.
Important Salos.
Following arc some Of the important Bales
made during the Hcck:
SOUTH sDE-
William q. Sampson i Co. sold two-story
ind basement marble front house with lot 221115
feet front On Thirty-f street, near South Park
Avenue, for $4,000, to Mr. &. 3. Loomis.
Clarke, Layton d Co. sold three story and
oasement marb!e-front residence with a 25-ioot
.ot On Twenty.fth street, east Of South: FAX az
also lot, 50 feet front. Oh Cottage Grove
avenue, south Of Thirty seventh street, to John
e Jones, for g., 900, which is about S12o q foot.
J. Henry & Jacob We'll sold the following
property: On the Grand Boulevard, 1s2 feet,
near Thirty-serenth street, running through 30U
t' ttee.' to H. 4. kohn, for $152, ,ooo, beng szoo
No. $40 Wabash arenue, near Harrison, q
Sftory brick house with French roof. totan East
etn party, for s45,ooo, part cash The lot Is ~
% On Indiana avenue. between Thirty-fourth and
Ih1ty-ffth streets, SO feet of east front in John
"entTorths Subdivision, for Sc, 600 cash.
Nos. 7Ss and 1856 Wabash avenue, IS feet front,
lso feet deep, for s25, 500, part cash b1r.
1aorge L. SeaTerns WIS the purchaser
q. c. Tbsyer Co. sold 182 feet on Langley
a!enue and johnson place by 2s8 feet On Thirty"
aghth street, with improvements, for Gas, euo
e. 7. Sumwalt l. Co. sold fifty lots at South
EnElewood in Block II, between Halsted street
11d 5nd the Rock Island Railroad, at SS75 !ot'
lhere is considerable activity in that vicinity,
snd better feeling among owners, espec1a1ly
road.
~ The northeast corner Of Calumet avenue and
aa1hary-third street, 5o1125 to William Balm, for
sl25 . foot
4 T. Noble sold nineteen lots at South Eng1e-
wood for $7.60O.
u!sieh 4 Bond sold 6o1121 feet, south front,
On tlfty-eighth street. between Madison avenue
t tnd Monroe street, Hyde Park, to F. b. Kent,
tor $50 foot.
Also, 1s2z156 feet. on Greenwood avenue,
e.ss front, north OF Walnut street, the location
o3 the Mound and Tower in tie forest CT pines
etshted eate tfy Dr.. Esan. sold to 3. 4. Ulrich for
soo 1oo<. The Tower ias been removed, ne
understand and the Toundation comnen ced for
A1esldence. with octagon.! tower in front, de-
Asnod b7 James II. Ali;lett. architect. This