, 1876-11-12

property here, and our resident capitalists are
buying up real bargains in this class Ut property
constantly. Enough las already BEEN sad
about the significant movement Of i. T. Stew
spoken e!oquently throughout the Uu;ted
Ststes in favor OF this metropolis.
4 consideration OF the size and rental Of some
OF the largest business blocks will show that
Chicago even in these du1t times has centre of
trade magnificent in its proportions. and elegant
in its architecture, for which her business men
pay an annual rental Of from to 10 per cent GU
fair valuation DOW OF the property oc:upicd-
For example take one building on Wabash
avenne, tive stories high, situated on tue curncr
OF one Of the principal streets running east and
west. covering the entire lot, l45xlGO ftct, aud
paying now = rental OF S., Zoo per annurn, or =
net income Of 10 per cent on S400, ,0uO over all
expenses, which are light. Another prominent
building on State street in the ncishhorl4ood Of
the above, 100 feet front by 80 feet deep, with IN
elegant hve-srcry building covering the cnti1c
lot. lifted up Tor stores on the nain stories and
containing ] tine passenger water-cicvator and
artesan well, under leases made during the PRES
ent year. rents FOR $i3 O00 aud after taking out
all expenses aud taxes will lnly the
owners nearly per cent on valuation
Of $4oo, ,ooo-or 500 nnually per SQUARE ioot.
Esq, Nos. Lao and Isl State street, 40x!H1t and
fiyc-story building, fur SlB1,oOI cash, pays
Sl1,5U0 pct annu1n, which, after dc.lucting al
taxes and insurance. will leave nct income of
On pEI EEuk Ut pcF EEnk UG LIZ ElfESLuEuL.
Tie Major Block, i iuc tiyc-s,or: Stone front,
covering 66 feet on Madison street BY l]5 feet
on LaSalic street, a'!tl purchased only six
months ago tor SKI, O by the same party, pays
now net annual revenue Ut X per cent.
Another building OF notc, occupying ono OF
the principal central business ct,r,,crs, five
story stone building OF fine architecture, cover
ing lot t6xlQ5 feet, pays gross rental Of 5s&,-
000, leaving an income OF per cent on $&O,-
oo0 after det,uctins al! taxes and other cspcnscs
,c;tt hs,if, LIN
square foot.
Still another elaborate and substantial stone
front building, covering corner lot 80 fece
front by l2O deep, aud i've stories high, not far
street, pays 81, ,uo0 per annuu,, leaving net ~
per cent On an Investment of StuU, ,OeO or $3.54
l-l0 per squire foot.
L substantial four-story office building on
covering lot 441{{xlGo feet, paysn ow slS,5onper
annum gross rental, which leaves, after deduct.
Ing all taxes and cxpenscs-wlich are light, as
there is NO elevator IN buildings per cent net
on s2o0ooo. Another office bui!ling, with store
below, on Clark street, recently sold for $751;
000, pays gross rental Of IS, 7U0 per aprum.
i tire-proof four-story and basement stone
front block on Dearborn street, occupying cor
ner lot 20 6-l0x90, now rents i'll the aggregate
for S26, ,7uo, with light expenses; insurance only
Il per cent, and no elevator; with taxes of
$1,000 per annum, which will leave per cent
incomc PCT annunl on 5000 Another build
ing OH Washington street, cast OF Dearborn
street, 40x170, five stories hgh with lot iOxl3O;
Is rented for IL term OF years for $l0 U00 per
mum over all expenses, which Is over 1o per cent
on its appraised valuc- Large amounts Of money
are offered at 1per cent on such hutldings-50
per cent on fair valuations.
had my attention called to in looking about the
city for parties seeking investments III this class
Of property, where the interest on q fair valua-
tion Of individual blocks amounted to Z, 8, 8,
and even 10 per cent net
Il this Is common in ether cities throughout
the States, let st. Louis, Cincinnati. New York,
Boston, and other prominent cities put In IN
appearance aud show cause why Chicago central
business property should not be considered
among tho best paying realities 6f the country.
B. 4. ULRICu.
ZEAL ESTATE IN NEW roRK.
The shrinkage in thevauc Of uniE1provcd lots
in various parts OF the city differs widely. For
instance, the shrinkagc On Fifth avenue lots,
that is to say the few that are in the market,
does not generally exceed 10 per ccatun and on
houses In the same nrigllborhooI not more than
20 per centun These estimates arc OH lots and
houses situated on and in tho Immediate neigh
borhood OF the avcnue, between Washington
Square and Fifty-nintA street. North Of Fifty
ninth street and up to One Hundred and Tenth
street the shrinkaSc h.ts been more heavy. On
Harlem flats, above the park, the shrinkage has
been fully 50 per centum and in MANY cases tho
enormous assessments have coniscated the
property which the Assessors very facetious1y
say in their reports has been benefited thereby
Uptown propcrty-owners say that tncsc bouie-
ward improvements arc twenty years In advance
Of the wants of tho city, and they assert that q
greater wrong was never peTpttrated on real
estate owners. These so-callcd improvements
arc still going on, and propcrty-owners OF mod
crate means are the immediate sufferers. Ihe
present effect Of the improvements has been to
Tetard the uptown growth of the city.-Ne0
York Ete7il'J Post
REAL ESTATE IN SAN FRAsc1sco.