, 1880-12-05
REAL ESTATE.
Chicago Capitalists Heavy Buy
ers Of Chicago Real
Estate.
Heavy Investment Pur-
chases Of Business
Property.
Unusual Activity for This Time
OF Year, but No Specu.
Lation.
Encouraging Reports from
the Other Leading
Cities.
Important Recommendations for
South Side Street I'm
provements.

C1l1CAGO EOk CHlCACOAN6 ..
REAL ESTATE IN CHICAGO IS DEVELOPING 4
HEALTHY ACTIVITY
that promises tho best kind OF q market for the
winter and spring. The situation is now entire
~ different from what it was lust year. There
was then tho 1evershncss OF spocula ton in tho
market Now property is being sought by q
solid
PtfALASx OF 1NvEsTX ESr BUYERS,
who are using every art to conceal their opera
ti0n5, and check any tendency to excitement
Agents are positively forbidden in many
cases to make auy report of their
sales, and frequently deeds are kept
oil the records. THE TRIBUNE has mover
sympathized with the exaggerated idcas preva-
lent Of the Importance OF outside capitalists
Chicago rcal-cstate values must be determined
in tho ioux run by the use Chicago men can
make OF it. 1t is Chicago men who are buying
real estate here to-day. None know so we'll ns
they how tho city has grown and Is growing, and
they are putting
MILLIONS OF DOLLARS
into business and residence property. This 1s
usually the quiet season. but numerous capital
lists, anticipating higher market next spring.
are conducting their negotiations now, and NUM-
bers OF important sales have been made.
The Peck estate have received an offer OF
$:NU, ,u10 for their
LAKESIDE Bu11.p1xo
at the corner OF Clark and Ada1ns, and Of $4o0,-
uUU for tho Exchange Building at the southwest
corner Of Washington and Clark.
Mr.. Henry G.. Hew hus within few weeks
mutie purchases ut real estate to the amount Ut
about half million dollars. They comprise ten
ncre3 on Forty.tirsI street, between the Grand
boulevard und Charles street, $1Qj, 400; the Ful-
lansbce Block on Twenty second street, between
State and Wabash avenue, $l45, 600; the new
13n11
on Adams street, $4,000; the Crane
Building on Monroe street, S5s0I0: tho property
on South Water street und State, northwest cor
uer for S83 O00; 50xl0S State, south Of t1nr1i-
SUM- $..s5,UU0; nnd somo smaller pieces These,
added to tho purchases OF Mr. r. g. Hutchinson
and his expenditures in building, ma Ike q total
Of not less than $lOo0, ,0o0 spent in Chicago real
estute by .....
TWO CHICAGO MEN
within few months. The best Of the present
market is Tint its strength comes almost en-
tirel from tho operations Of our own capitalists.
Tho vacant property on Fifth avenue, between
Madison and Albums streets. has been bought by
capitalists like Mr.. Henry Strong and MI. P. B.
Hutchinson ut prices averaging about $100
foot. Arrangements have been made to put
buildings up ut the earliest moment possible,
and tenants have been already secured for them.
Tho Appieby Building on Monroe street. Gust
Of Fifth avenue, has been sold for $s5,0uo. It
has frontage or f3feut:-~"---~. .'-~' ~~----
Mr. Z. r. Hutchinson has purchased tor $4,000
the southeast corner of Lake street aud Fifth
avcuuc, occupied BY Casey s. 70. and two eating
houses.
Capitalists arc hunting up
THE NEGLECTED STREETS
and corners Of tho business district. 1t Is evil
dent TINT every foot between the lake and Van
D,ren will have to be utilized for the ac-
conulountion of our croWding business. Even
Third avenue is being secured for bargains
At the last meeting OF tho Common Council
Mayor Harrison sent in two ordinances for The
sale Of the
LAKE-PRoST.
One had been prepared by the railroad and the
other by the Mayor, who wished to make sure
that the riparian rights of the city were pre-
served Both ordinances were referred to the
judiciary Committee.
The now street railway
on LAKE STREET,
for which an ordinance wns passed by the Com
mon Council MI Monday night, will have an 1n-
porruut Affect on tho values OF property along
the line. The sudden rise in prices on North
State street, after the horse railway WAS intro
duccd, and the great stimulus given to building
there. Is case In point Real estate on Lake
street between the bridge and Ashland avenue
bus been dead for twenty-five years, and that
between Rockwell street and Central Park
has, although admirably suited for residence
purposes, been drug in the market, on account
OF its inuccessibility. Now, however, the salablo
and rentube yaluo Of all this property will be
doubled.
ACRE PROPERTY
remains quiet, but there arc some purchases be"
in1 made in localities likely to be affected By
new railrond enterprises. Speculative activity
theru Is none.