, 1876-07-23
Peculiar State Of Affairs in the
Chicago Market.
Half a Million of Cash Capita!
Seeking Bargains in Vain.
Mnst the Owners Come Down, or the
Capitalists Bid Higher?
An Encouraging Prospect that
State Street Is to BE
Paved.

CAPITAL IN SEARCH OF INVESTMENTS.
The situation of affairs in the real-estate
market here is peculiar. The number OF Trans
actions is very small, nricee are low, and Inc
market dull. At the same time there is large
amount of capital III the dty seeking invest
ment in landed property. Investors from New
York, Boston, England, and the south OF France
are now here looking about for bargains. We
know of 1n aggregate Of not less than S50O,0oo
7p1;ch is thus represented here st this time. The
1,ropcrtv In demand is that which is productive,
and the prices offered are those at which
It pays, rcnuncretiyc1Y, now. The ca1eula-
ton is that property which pays fair net rental
in the present bad condition Of business will
provo profitable purchase in the future pros
pcrity Of Chicago. As an instance, an offer has
been made during the past week Of S11A0o0
cash for the CITY National Bank property on
Washington street, west Of laSalle: This
property, with the fixtures, was scheduled in
the last report the bank made at S1720o0, but
this valuation must be supposed to represent its
worth to the bank, not its market value. The
rental Of it is about $4,000. We understand
that the offer has been refused. This is only
one of several recent instances in our knowledge
in whicl, owners and cash buyers have
failed to agree The apparent Interpretation OF
this state Of affairs is that real estate has not
vet reached bottom, and owners have further
concessions to make before they can sell. It
becomes question of length Of purse Il own,
ers can hold on and pay taxes till - the good
times coming" have come, they VIII reap the
reward Of their endurance. Otherwise, capital,
which always has tremendous advantage, will
wait, and get better bargains than it now asks
for.
TIE PRINCIPAL SALES
Of the week were as follows:
A. ]. Averill has sold 100 feet on the south
east corner Of Ashland avenue aud Adams
street at sl25 foot.
" D. Ke1foot d Co. have sold the residence
800 Ohio street, three-story and basement
house, with lot, for $500.
I. 4. Chase sold premises No. 1160 Indiana
avenue being large frame house and lot 0x
10 feet south Of Twenty-6fth street, for coo;
also, two story and basement brick No. 24S
Calumet avenue, for ST., 500.
Louis Bush SOLD lots on the southeast corner
Of Indiana avenue and Ferty-ninth street 800
feet to Prairie avenue, for $4,000.
George L. Gray sold Blocks Is and 16and Lots
! and 3, Block IA, Gray's Subdivision in west IS
q, 40, 13, for SIS, ,000-
Benjamin Burton sold 75x15o feet on the
southwest corner Of Dearborn street and Burton
place, for $4,000.
A. F. Ba1chedt sold house and lot on Dear
born street, south Of Schiller street, for S12,500
B. Springer SOLD seventeen lots in Chambers
a. Springer's Subdivision of the north half Of
northeast quarter Of northwest quarter Sec
Is, 81, II, to George Peterson, for SM, GOO.
A1onzo c. Rand sold business block No. 119
Clark street, between Washington M and AZ Madison
streets, to Fl. A. kohn g. Bro, for S65, 900.
= n. Arnold sold the southeast quarter Of 15
81, Is, for $1,000.
John Raber sold to ]. II. Rumsey 177x654 on
State street, opposite Fifty for S24,000.
L. Crocker sold house and lot on Ogden ave
nue., northeast Of Washington street, for $4,000.
Ira Brown sold nine lots at LaGrange for $500;
one lot at Evanston for $500; two lots at Dcs-
PLANES for 800.
G. ". Cooper & Co. sold lot with two-stor7y
and basement brick, No. 1853 Lincoln street, $50
D. R: Clark to G. J. Il. Frank, Of Chicago, for
$500; frame house and 50 foot lot, on corner
Of Belden and South Park avenues, for John W.
Wright to John 7. Campbell, for $4,000; frame
house and 50 foot lot, on Belden avenue, 5o1eet
from the corner OF South Park avenue, for Jo-
eeph Wright to Alexander Woods, Of Lodi,
Wis, for 1850; lot on Twelfth street, be
tween Wood and Lincoln, for John SHdmore,
for 81 ,0oo; a two-stoEy frame store, No G75
milwaukee, aFenuc. with brick basement, for
lumbla County, Wis, for s., 600.
SATURDAYS TRANSFERS.
The following instruments we're filed for rec
ord on Saturday, July Is:
West Indiana 81, 100 loo It Of Noble street.
!, 251150 It, with buildings, dated
weet Saty Monroe St lee # E al Robcy St '''o'
/. s4xia5 It, dated July Is. @ .....:....... ~ 1900
Portland az, 5G1: It Of twenty ninth st.
VI. 2511:.59i It, dated july IL .... 1,o5o
DtpuyEter st, ESQ It y OF Desplatnes st,
81. 50x118 It, dated July 10. ..-.----.- 13, 900
Aberdeen st, olG;5 It OF Taylor st, eff,
20x107 It, dated May y.9..-..-.-.-...... 800
Lincoln ct 2:,551 IT j OF Harrison st and
116 It v in rear, 24s1271z #, dated
July 22...---...- ...-...-*..-.....-.-...-... 1000
= It, dated July :@..:..:: ...-..-..:- -. 1900
lo81 It, dated July .l............ ..-.. $4,000
Jefferson 1T, 20 l3-lO0 It OF Dehoycn
st.wl 20 15-1oozSs 40 #, dated
eoU1u OF CITY LIMITS WITHIN A RADIUS OF 8EyES
NILES THE COURTHOUSE
PFairie av. IS It Of Fortieth st, " I, G5x
160 7-10 #, dated July 21.--.. -.-..--.S 6. 500
Sacramento av, So It n Ct Fogty-ffth st,
T. 100xl24 It, dated July 222.-....-..... 1000
Michigan terracc, Of Fo!ty-fourth ct, c
T. 50x2Co it, dated July 23..-....-...-. 4,50o
SUMMARY OF TRANSFERS FOR TIE WEEK.
The following is the total amount Of city and
suburban transfers within 4 radius Of miles
Of the Courthouse, flied for record during the
weel, ending Saturday. July a2,: City sales, 81;
consideration, s412, ,Ss63. North of City Limits
Sales, 2; consideration, s11,63o. South Of
City Lfmfts-Sales, Is; consideration, SS2. 3225
Total sales, SO. Total consideration, S5O6,778
1,HE T,0AN RFARNET