, 1876-06-04
IN GENERAL.
DEPRECIATION OF PROPERTY.

10 tHG EIsVF ~ AHf 1SAoAHe-
CHICAGO, June 3.-From your yesterdays
transfers, Of real estate in the City OF Chicago
1t can be seen that the shrinkagc in some parts
has been immense. We have reference to the
sale Of the lot bounded BY Elizabeth and Ada,
Madison and Washington streets, frontage Of
about 1,4D0 feet, 500 OF which on each Of Madf-
son and Washington streets, for $1s6,0o0, and
not for all cash either, for the 81, COO sale is
supposed to be in part payment for the same.
Tie front on Washington street is in the most
desirable quarter Of the residence portion Of the
street, while the Madison street front is not
much inferior either as residence or business
property. 1t is true the property has been ad-
yertised for sale under mortgages, but the price
obtained, about $50 per foot, is so much below
what the real estate dealers have valued the
property in that vicinity ut for the last eight
years, that it shows conclusiye]y that to hold on
to unimproved property, expecting it to double
eventually result in disaster. This same land
could have been easily sold at $50 per front
foot eight years ago-tle Washington street
trout at perhaps $500 Somebody has lost a
fortune on this one lot w. w.
The following new subdivisions hare been re-
corded:
i. Circuit Court Subdivision Of one acre in S. F.
Smiths Subdivision, Sec. Is, 30, II.
2. "; L; Heaton,s snhdiyision s OF the s. E. 4 Of
g. Carswell's Subdivision Of Block l, Of Eber-
hart s Neage's Subdivision, Sec. 8, a8, Il.
4. Andrews Subdivision Of the n. W. OF =.
E. 4 Of N. ". x Sec. }, 3s, Il.
5. The most important plat dled for record TOT
some months past WIS that fled by Joseph East
man the past week, bringing into prominence the
block formerly dedicated to GREEN'S Garden. which
witnessed the early exploits Of the Chicago Cricket
Club, has been the Temporary abiding place Of
dancing dogs and chattcring monkeys, the home Of
the honseless after the great fire, and has resound
ed to the music Of the French Band, and to fhe
wild war-whoop Of the nntutored savage The
plat lays out &c feet in width for az extension OF
Throop street. between Madison and Washington
streets. Between Throop and Ada streets there
nre eight lots with total frontage north on Wash
ington street of 222a feet By about III feet deep
Fronting west on Ada street are eleven lots
feet, and there are the same number and size of
lots fronting east on Throup street. On Madison
street there are eight lots, each e2x45 feet: The
lots east OF Throop street are OF a.
mensi0ns, and alike In number. This makes thc
total number OF lots 49,
FAILURE OF NEW YORK AUCTION SALE.
The New York Real Estate Lecord gives the
particulars Of the latest real estate auction sale
In New York. It was an utter failure, not lot
being sold. The property WIS all choice boule-
ward and avenue lots. "Upset prices" we're
announced as the rule Of the sale, aud in con-
sequence no bids were made. Commenting on
this sale the Record says:
Bottom has therefore not been found yet IN the
real estate MARKET and it will not be until sellers
look at the situation complacent1p did thcman'
ufactuTers who instituted the recent great dry goods
sale. When holders or owners OF real estate once
make up their mind to that-and come it mnst, as
eurely it will within the next elk months,~faiF ana
honorable competition. encouraged by .incseased
building, which is going on oll around NJ, VIII
show that property in New York has no1 gone .; 20
the dogs, and will rcassert itself in the c8si-
nation of cnDitAliSt9.