, 1877-03-04

THE KENDALL. BUILDING.
curcAeo 70 Mars g. SSsr fhs q is 6a1d %a
on the southwest corner OF Washington and
Dearborn streets, is advertised to be sold under
foreclosure on Monday tic 9TH inst, Tor non.
| payment of taxes. This Is somewhat unusual
basis of foreclosure proceedings, although the
| forms Of trust-dced in nse stipulated that inc
entire sum secured thereby may be declared due
In case Of 4 breach OF any of the covenants; anu
one OF the covenants is that tne taxes snan oc 3
made that there has been any default III the
payment Of interest on tile notes which accom-
| pauy the trust-decd. This is one OF the tinest
oflice-buildings in Chicago; has always been
Insurance Company OF New York having q lease
| OF S14, ,00Oper annum for the main floor tor ten
| years. The lease has several years yet to run.
The foreclosure, 1t is understood is to De undcr
second mortgage. 1t can readily DC seen ,'' now
| this matter OF taxes may become great burden
| to mortgagor and mortgagce,-lN the ease o1
| such property,-the former not having perhaps
sufficient income 1ro1ll the building to pay the
interest on both mortgages, nnd the latter SUI.
fcrin~ loss to his security In consequence OF
this additional lien; but it l.. somewhat unusual
for that reason alone to declare both principal
and interest due, and to Institute foreclosure
proceedings. Under our stringent laws. 4 title
obtained through such sale might be declared
perfectly guod, but 1t would certainly seem that
if Chicago property becomes rs valuable as it Is
confidently expected it will sooner or later be-
cotne there will be some disposition to practl-
cally test the yalidity OF the foreclosure.
NEW SUBDIVISIONS.
The following plats were filed for record dur
ing the inontl. Of February:
4 resubdirision ui Lots |, 2, and 3, OF Wildcr's
Subdivision Of Lot s. Block -, Bridgeport,
MAXIM. LII lots. 25xl12 feet, southwest corner Of
Lyman and Dccrng streets. ..
4 Subdivision Of Sub-lots to Of Lots II to
19 and part of l3 north addition, southeast cor
ncr OF Eugene and franklin streets.
\ Subdivision Of Lots 2 to 1, Bloek34, Youns's
Addition to Blue Island.
4 Subdivision Of Block 10 in n. ". Il Of the
s. ". 4 Of Sec. II, ~, 10, Town Of Pa!at:nc.
Plat Of part Of southwest fractional quarter
Of Ser. 30, II, IA.
M MPlat IT Sec 81, e, 1S,
Plat Of S. Is of tile n. W. 4r, also the n Of
Sec. Ii north Of Calumet Feeder Town 81, IL.
Plat Of the +. Y Of Sec. :f3, ~, 13
Plat Of Lots q to o5 in $. Is Of Block g, W.
q and ". ~ T. X Ser. II, 80, II:
Subdivision Of Lots /, :, and ), Block 10, in
Fiat Of streets dedicated by 7. D. CossAt in
n. E.4 Of SEC. i, 81, y.
WOMAN RICH IN REAL ESTATE.
Seto Thr* Corresp0ade4cf knSf0, journal.
Miss flnkncy, who lives in Upper New York,
is regarded the wcalthiest woman i'll the city.
She is quite advanced in years, and her l:lothcr,
who lives with her, is nearly 90. Miss T. owns
Keeps her affairs in her own hands, The two
women live together in q large stone cottage,
and live n tue simplest and plaincst style. She
gave the other DAY some interesting statements
owes S131, ,000,000. There arc StS,000,000 Of
unpaid assessment taxes to-day Agalnst my |
property NOW there are $780, 600 assessments ]
and taxes. large portion OF these assess
ty prefer to let the city take the lots, anl trust
to their ability to redeem when times arc bet |
ter. Twelve per cent is the interest demanded |
By the city after the first year. have held my
property in this way. Once in ten years there is
n rise in real estate. Then sell OH enough to |
clear my property aud hold on to the balance. |
l sell no more, because E1y title is among the |
oldest, and | csan have no better security than |
have got. Much OF this i,cumbrancc on our
property is not only oppressive, but fraudulent
relieve the oppressed owners. It they do not
pass, the assessments will be contested to the
bitter cud."
NEW YORK REAL ESTATE. /
There is little, il any, change to note in the
market The chief interest still! centres III sales !
under foreclosure. In the operation Of the
Building Department Il marked Improvement
has taken place. Plans hare been filed for the
erection OF eight four-story brow:-stonc houses
on Madison avenue, on the northeast corner Of
Scytnty-ifth street, and one for tile erection Of
a irstclass dwelling on Fifth avenue, northeast
orner OF Sytytirst street, at cost vi Sl00, ,0U0.
scvcrl-story brick-npartmcnt house is TO be
built on Fifty-ninth street, between Fifth and |
Sixth avenues, by Mr.. Brady.
The sale Of five lots on Fifty-sixth street, be-
tween Madison and Fourth avenues, for $4,000
each, has recently bccn mentioned in ono OF the
morning papers Us showing IN advance Of prices |
III that locality. lots having been offered and
sold ia that nc;ghborhood short time previous
For SO, 0o0. The fact is that this sulc was a
.radc, two stores On Sixth avenue having been
placed at so5 600, in exchange for which ts five
OTIS mentioned above were put in Mt St5,000. /
We understand that an offer Of Sl00UU each for
OTIS will receive immediate ttcntiun.-New
1nrI Reo} E.,fnfe Eero,,Y