, 1875-12-05
THE LAKE-FR0h1.
Views of Prominent Citizens Con-
cerning Its Sale.
General Concurrence Of Opinion that the
City Should Dispose Of It;

Clty should dispose o1 ~;
And that Surrounding Property Would Bt
| Enhanced in Value.
In order to fathom the feeling and obtain rht
opinion Of taxpayers generally, ss TO the adV1sa
bility Of the city seling the three blocks living
between Monroe aud Randolph streets, on the
Lake. Front, to the Illinois Central Railroad
Company. for the purpose OF erecting passenger
depot thereon, TRIBUNE reporter was detailed
to call upon number Of well-known c1tlzenE
yesterday afternoon, whose views are given be"
low:
The first gentleman seen Was
Mr. 8. II. NICKERsot,
President OF the First National Bank, who VIA
found in bis Office, southwest corner OF State
| aud Washington streets. Tho following conyez-
| aation took place:
Rep.-1 came hero, sir, to ask you whether
you IN favor Of selling the three blocks lying
dolph streets, 70 the railroads for the purpose
Of building depot there, and whether @ yer 1t Is
| visa to sell it at the price offered, S6O0, QUO
| Dir. WI am decidedly IN favor Of selling the
property just at thus time, because the city needs
! the money.
Rep.-Do you think it would prove benefit
to surrounding property
Mr. W.-The building Of the depot nil, in
| Itself, be great improvement, aud, OF course,
must benefit the pro; ;erty lying in The vicinity.
and then benefit the holders aud the city gen.
| orally. A to the legal points involved, know
! nothing
MR. SOL i. SMITH,
President OF the Merchants Loan aud Trust
Company. northeast corner OF Deatbo1n and
Madison streets, was next called upon. He said !;
II am in favor OF selling the property, and be-
!ievo it to be juaicious measure just 1t thus
time"
Rep.-Do you think it would enhance the
value Of property lying along Michigan avenue
Mr. ST. certainly do. I think it will increase
the value, and add to the taxable clty property.
Ihs reporter next called on the
MEssRs. k'conA1cK,
in the Reaper Block, southeast corner Of L.
Sale and Washington streets, These gentle
men own more properly in the immediate viclni-
ty OF the LaEe-Ffont than almost any other OF
OUT citizens.
ME Il. g. N'conMcK
was the gentleman accoetcd by The TRIBUNE
reporter He expressed himself as in tavor OF
the sale, and stated that though the other gen.
tiemeD were not present. they, too. were very de-
slrous to see tho transfer made which they
thought would prove great advantage to the
city, and was The best thing, in = financial point
OF view. to do just pow.
Rep.-Do yon think that property would be
increased in value in tho nelghoorhood by hay-
ing tie depot placed tLere2
just say that 4 combination ia now forming to
drine about The location OF q passenger depot in
the centre Of some Of the most yaiuab'e busi-
mesa property in the CITY. And will tell you
another thing: A few days ago,
MI c. II. MconM1cK
and myself went over to Mr. Spaiding. and had
q conycreat;on With that gentleman, in which the
former expressed himself IN the strongest terms,
being OF the opin1on that, it the depot were
placed Oh the Lake-Frout, it would enhance the
A. Mccormick not only owps business property
10 the vicinity, but before the fire owned great
deal on Michigan avenue, which WAS useu for
residence purl oses, and which he etiu holds
I, for m1self, would like to see the sale made at
once, but think it ought to have beeD made long
sgo; and, it no interference had been had,
beautiful passenger Depot would b. or
namentlng what il now q mere useless
~aste almost. And another thing I woa1d
say There arc those who would argne that
10 not 60 in my opinion. The place has char
acter married bs the past and present, and the
depot would greatly enhance it's value as tax
paying city property. aud the corporation would |
no small item Ia our present stringent financial i
condition. |
MI NATHAN coaTTTH,
whose Office is located at No. 110 La9alle street,
mas the le1t gentleman 1uEeff0Rate1-
After stating that be thought it would be I |
good thing for the ctr to do to sell the operty,
the reporter asked him, Do you think property
would be enhanced IN value in the neiglborhood |
il the sala nere made, and handsome depot |
erected ?" |
Mr. C.-yes, sir, I do. The property is now
lying literally dead. and OF no earthly benefit |
to anybody. It would not only benefit the sur
rounding property. but would benefit the entire
city.
Rep.-Do you Own property in the vicinity?
Mr.. C.-No; not Immediately. loUu none on
Michigan avenue, except wnera live: but do |
on Wabash sgenue and believe thar would ba
benefited by the Improvement.
JUD3E l.. B. OTIS,
whose Office is in the building No. 142 Ii Salle
street, was the next visited.
he said: II am decidedly in favor Of selling
the three blocks between Monroe and Randolph
streets, knoWn as thu 1ako-Front, to the railroad
for $500, 600. as think it is good price, aud
for several osher.ressons."
Rep.-3av aak what are they?
Judge Otis-Because the sale would prove
great advantage to the city. The property is
not wanted for any other buslness purpose, and
besides We have all the business property in the
vicinity that will b needed for some years to
come. That property at best would not come
in demand for year.. The city just now needs
the money, and think $500, 600 is a good round
Rep.-Do you think the value Of property
would be increased N the vicinity by the making
Of this Improvement
Judge Otis-It would not only help the proper
y in the vicinity, but the Company would put
up I building that would prove an ornament to
tho city. And I want to say, while ! have
these vie-vs and they are freely given. I own
no property in the vicinity, and have no interest
whatever il the illinois Central RailroAd Com
pany. bat tho sale would provo great benefit
10 the property-oTnora and 70 that part Of the
:ity.
kep.-As to the title question. have you any
opinion on that
Judge Otis-I understand tha: tho Railroad
Company is willing to take qult-clain from the
sity. That ls capl;al arrangement alraround,
md the city should elose the bargain On those
:erma az quickly aB possible for no private in-
1lvidual would mnke g like proposition Every .
property y-ownor and tax payer that have talked
20 (and have talked to many On the snbject)
favor the na1e.
Ln- EENRY KEEP,
rho is also well known, and who has an Office
Nth Judge Otis, was also interviewed. That
gentleman emphatieaIly stated that he Was in
- ~. Nall