, 1876-01-02
Tn 11iIes Of Aew Buildings Added to
Chicago During the iear.
sa1es of the Year Much Less
than in Previous
Years.
Tho Loan Market Shows $14, 4,000, 900
Less Borrowed than in 1874.
rho Transactions of Last Week
Unin1portant--"h1isccl-
lalcOuS.
REAL ESTATE IN 1875.

4AuNoASs
REAL ESTATE IN 1875.
rrf1IoSs or CAPITAL DEVOTED TO IMPROVING IT.
In reviewing the course OF the real estate mar
rot for tho past year, We arc compelled to dis
vent from the prevalent opinion that 1875 has
,een poor year for the real eatate interests oi
Chicago. It is truo that the amount OF prop
rtv which has changed hands is much below tho
,alue of the transfers Of each Of the two pre-
ndin: years. Prices have shrunk, ard capital"
r,s, Hith tho exception Of those possessed of
SUPERIOR sAoAc1TS,
Ike that which Jay at the foundation OF the As-
pr fortune, have been SLOW in making purchases.
}peculatire operations have been at the mln1-
mum. tor it is characteristic OF the speculative
barees that thew never have the nerve to operate
pu declining or stationary market. But II
there has been but little improvement IN real cs-
ta:c, ..-.-
THE IMPROVEMENT OF REAL ESTATE
has heen enormous. In no other city in tie
rountry hayo there been erected an equal num-
her Of stores and dwellings in the past year.
After the great fire Chicago put moro cap
itaI into building than any other city in
the world but tho building operations of this
year show that tho nero restoration OF those
iosses was not tue limit Of Our Development. In
18Th there wcro 757 building permits Issued; IN
ISIS there were s55 permits given OUT, for about
2SOo erecsions. The frontage OF new buildings
10, 1874 was 80, 065 feet; for 1875, 55,470 feet;
The cost, S5,7s5. al in 1874; s9.775 0s0 in 1875
In 1874, 61l miles Of new buildings wero. added
to Chicago; in 1875. about l01l5 miles. 4 city
that ndds to iteelf At tbs rate Of more than
MILE MONTH
in the building season, and spends in round num-
b1rs SO. 600, 900 in q year for new houses and
stores, muet DO considered prosperous. In view
of the depression in all the Eastern cities. where
houses aud stores are vacant in such numbers
that the building trades have come to a
dead stop, and in view also OF the charge
Of oye1buldiog that was go freely brought
n9anst Chicago after the great fire, this e1-
hlb,t Of tho years operations is extraordinary
To even sanguine Chicasoaue, there Was time
after the rebuilding OF 1872 when 1t eeetned as
il tho blocks of new stores and offices would DO
GLOW to fill. But although the panic followed.
the business Of the city grew steadily up to and
beyond these abundant accommodations 1t
found them insufficient and demanded more
room. Taking out the exceptional period OF
rebuilding, ......-
MORE STORES HAVE BEEN BUILT
in Chicago during the past year than n any pre-
ylous twelyemonth OF her history. The gaps on
Madison street, from Wabash avenue to the
river, have been filled on both sides by the erec-
ton Of first-ciass etoses- On Wabash avenue.
between Monroe street and Washington etieet
Judge Mark Skinner, the Rutter estate Iii.
Rothbnrth aad others, have erected business
buildings as fine as any in the city Ihe OlHu-
ger and the Sears buildings OIL Washington
Street, and the Meeker Building on Dearborn,
lust north Of Washington, are all IN the
heart of the business district, and first-class
structures Que Of the events OF the rear mas
been the concerted movement among tho dry
goods and clothing wholesale merchants tor the
establishment Of a new jobbinG centre, Monroe
street, west OF LaSal1e, IN the vicinity OF J. 7.
TarveIl l. Co.'s stote, was the spot selected
Simultaneous purchases we're msde there by !.
Z, Letter, Marshall Field, Henry ". King. J. Y.
Farwe!l, and others, at prices ranging from $500
to $500 foot, and new buildings Of the hand-
Eomest description put under way toae nave
1.ready
CHANGED TIE CHARACTER OF THE LOCALITY.
To make such movement successful 1t must
be under the direction of men who haFo the un-
disputed control OF their respective trades:
Field Letter & Co., J. =. Farwell Il Co., and
the clothing dealers concerned in this step have
thus rowe1, aud will plainly succeed IN their
plans. ......-.-.. -.--.
vas that Of the produce men from their over
crowded quarters OF South Water street
to Quincy and Market streets. lhls oil,
Gcult matter was managed with. great
new Ssra we59 and new business
quarter added to the accommodations OF Chi
caco, The past year witnessed another great
acnievement-the almost complied rehabilitation
Of the district swept BY the destructive tire oi
1874, which Vas email only in comparison With
The greater calamity of 1871 Sixty acres were
laid bare by it. BY July. 1875, they we're recov,
cred, excepting along Wabash avenue Ano
Fourth avenue, by stores and dwellings, OF stone
md brick far superior to tie wGoasn hes
recorered 1ees rnpidly than any other is that or