, 1879-08-24
REAL ESTATE.
Significant Transaction in Outside
Real Estate.
Attractions of Acre Property TOR
Conservative Capital.
West Madison Street Business Improve
ment-Sales of the Week.
Tha lincoln Park Shore Drive--The
Michigan Avenue and West
Side Boulerards.

Purchases OF Real Estate
No Building Inspection--city
improvements.
4 sale was made Inst week that will attract
widespread attention, and excite more interest
than many transactions Of much greater
amount. It Was the purchase BY Mr. Marshall
Field Of 6;N
ACRES OF OUTSIDE PROPERTY
near the South Parks. The sale, which was
pezotinted by Mr. A. ]. AVerell for Mr., Thomas
LYMAN, includes the ten city blocks, making
63M acres, in the N. ". Il Of Sec IA, 7. 38 N.
R. II, E. Of the third 2. NJ, lying between
Woodlawn s!ad Egaudalo avenues, on the east
and west, and Fi1ty-6fth and Fifty-ninth streets
on the north and south. The price paid was
s., $50 m acre, making the whole amount paid
s79,16667. The tract Nj. Field has bought was
part of the Walter Wright estate, and before
The panic Was held at much higher figures than
those it has now brought The purchaser be-
longs to that class Of conservative and success
ful merchants who, while investing heavily IN
IMPROVED BUSINESS PROPERTY,
hayn eschevel the idea Of dealing in ''outsfde
nroperty.', This change Of policy Will be re-
earded as significant, and will certainly operate
to encourage other capitalists to put money into
acre property. There are great many men
who follow the lead of the class to which MI.
Field belongs, and they will nov look with
nav confidence Hpon real estate that lies unlm-
nroyed without the city limits awaiting the
stimulating touch Of the growing metropolis.
There can he no doubt TINT the views OF tu-
vestors about reai est ate arc changing rapidly.
Great emphasis is Que the fact that real estate
ia nov the only important commodity that has
NOT GREATLY APPRECIATED
in vaiue- Railroad bonds, municipal securities,
Ill kinds Of stocks, have gone up.-tne rise IN
MANY cases amounting to hundreds per cent.
Real estate has but just begun to move. IL Is
alaays the last to do SO, but when it gets under
way preyious experience shows that Its apDre-
cation is very great
Dealers report that great impediment IN the
TaY OF making sales is the tendency OF owners
10 back out, and raise their price In thls re-
s:s,dl r1 aarcu that the following from the Chi
cago Reai E;:ate Circas'dr is entirely accurate:
NA case is reported to us where the agent o.
the owner gave dealer to understand that 90
II, sS5 pcr foDt would be accepted Tor CERTAIN
property. Offers Of SIS, $50, and S65 we're sue
c=ssiyely made and refused. The dealcr 1nalI9
TIE sale Just being closed at $1O0 per toot-"
His not to De understood from what has been
enid, that tbare is anything
LIRE L BOOM
III the real estate market, or that there Is any
s,ec,tr prospect of one Real estate is still SLOW
a sale: there arc desirable pieces Of improved
h1sincss property in the centre Of the city that
fail to find buyers. It is only the few who have
tnrned their attention to the cheapness OF real
estate, and arc beginning to put their means
into it. But this is great improvement on Ine
PREVIOUS co 1dition Of the market There arc
,.o~ dozer inquiries where there was one; me
Number and value of sales are increasing. IRe
market that was dead begins to show Signs OF
life, and it is sure to grow better steadily.
Jacob Wei sold 150x1G7 feet on Forty-sl1th
tsrcet betw cen Greenwood and Woodlawn ave-
.,ucs, to William =. SeaVerns, for S3ON.
E. S Dreyer & Co. sold in their Stock-fard
subdivision twenty T-three lots on Forty-seVenth,
Latin, Justine streets, and Asland avenue, from
500 to 500 q lots of which nine lots will be i'm
proved Immediately; also house and lot, 20.
lis Dearborn avenue, for $3.50; lot on Wis
eousin, near Lincoln avenue, tor Sl ,oU: mouse
ind lot on Randolph, near Union street, Tor
$500; one lot On Selma near Lyman stree''
Griffin e Dwight have sold for Mr. Robert
Foss to Mr.. Emery, Of Ohio, the lot having @
frontage Of 2SS feet by I40 feet deep on west
Madison street, corner Of IhEoop: me conS'o. q
once erect fine block OF stores and Hats, to be
33u1lt of Ohio sandstone. Griffin g. Dwight also
sold to the City Of Chicago for Mr.. Henry Glov'
m Of Detroit seYen lots on nrteentn stFee a,
$3.50 cash; fer Mr.. J. II. Finfrock to Mrs Royt
horse and lot No. $50 South I.eavitt street, fol
$500; to Mr.. James Markey for Ar
S,3s::.zi.s&s Walsh, house and iot 40; = =
E*rrei street for S69o eaSa To; 1o+ r. HT yn
sion. The Brick cottage and lot No. 40 South
Ir7tng place, for $1,000 cash. This f1rm report