, 1880-07-11
TIE CHICAGO CENSUS AND REAL EsTAT1

t61IA00 NGH0O1 AMI AGdL GG1A4L
The growth Of Chicago, as revealed by the
census and as compared, with that Of the
other large American cities, can scarcely fai
to give the owllers of real estate In this cit,
high estimate of their possessions. The
increase OF population in New York during
the past ten years has been about p per cent
that Of Philadelphia about 20 per cent; thai
of Brooklyn about IS per cent; that of Bos
ton about45 per cent, butsubtracting annexed
suburbs only is per cent; TINT of St. Louis
about 13 per cent, but allowing for the doc
toring in 1870 about 10 per cent; that Of Chi
caso 70 per cent. This tells the whole story.
Tile highest expectations Of moderate Chi.
cag0 people were that the census would show
Z population this year OF about 475,000. and
conservative persons would have been entire
1y satisfied if the enumeration had proved to
be 4G0, 900. In other words, an increase OF SC
to IS per cent was counted upon. Now that
it has been demonstrated that Chicago has
been growing during the past ten years at the
rate of 20 per cent, owners of real estate in
desirable locations may safely add 20 per cent
to its value; they have substantial basis for
tile added price.
There is another circumstance which justt-
tics. this new confidence on the part of real
estate owners. The value of city and subur-
ban property was at a stan6still for many
years subsequent to the panic. A large
amount Of unilnproved property is not rated
to-day as high as it was in 1872, though there
had been but 4 year before destruction of
millions Of dollars Of improvements, and
aft 1,n%{ }n;,
fewer people than it contains to-day. a
year ago owners OF property began to ask
higher prices, and a large proportion Of
those who were previously anxious to sell
refused to part with their property at the
highest offers which were made. After the
''boo1n''' in real-cstate had gone on few
months, q guod many people began to think
it was fictitious, and there ensued lack Of
confidence and consequent stagnation in the
market The census Of Chicago and of It's
suburbs shows, however, that the *'boom u
was rather under than above the warrant Of
Chicago's growth and prosperity.
The choicest business property and resi-
dencc property Of large and growing city
is always limited in amount, no matter how
wide a stretch Of territory there may be out
lying. The tendency is always to concentra-
ton. Chicago, including its immediate sub
urbs just outside the city (such rs Lake
View on the north and Hyde. Park. on the
south), now covers as much ground as it
will in ten years from now, though it is safe
to estimate that there then will be 10000 to
.soo, 900 people,-allowing an increase Of only
IS per cent as against 10 per cent during the
past ten years. In the meantimea large pro-
portion of the vacant building lots in the
business districts will be improved, aud the
various avenues and residence streets rum
hing north, and south, and west will be ex-
tensiyely built up. The most desirable Of
these residence streets, both inside and out
side the present city limits, will be rapidly
occupied, and the value Of property will ILL
crease at much larger ratio than it has
since the turn came after several years of
depression. What was fanciful and specula-
tive before will become real and substantial,
on account OF the demand for actual occupa-
ton.
The encouragement which the owners of
Chicago real estate must find in the present
conditions will be increased when the statis-
tics Of the growth in Chicago manufacturing
Interests shall be made public. This Show
ing will reveal the true foundation Of CHI
cago's present and future greatness. The
increase in manufactures at this point will
be larger durtng the next ten years than it
has been during the past ten years. The ad-
vantases Of our location are just beginning
te attract proper consideration. The coal
beds OF Indiana and Illinois will supply fuel
in such. quantities and at such price as to
supplement the advantages for the flistribu-
non OF the manufactured articles, and make
chlcago the most desirable and most exten-
SlIe manufacturing centre on tha continent