, 1880-04-04
Unprecedented Demand for Houses,
and q Great Increase in
Rents.
4 L0nd-0 Office Business in Small and He
dunn Dwellings-Specimen Sales
The Loan Market.


could readily be sold at the figures of a few
weeks ago, but people looking for in
vestments will not, as rule pay
the advance. What are considered
bargains are scarce Some of the
owners are said to be "perfectly Wild"
and not few who had signed contracts
have backed out and will not deliver the
deeds. III some instances the party Of the
second part has paid the commission and
$500 and $500 more than the amount origi-
naliy agreed upon rather than resort to the
law to maintain his rights. In other cases
THE BUYERS ARE "MAD,"
and threaten litigation, not little Of wl1ieA
is likely to grow out Of sales made during
the week ending Saturday night There was
good demand for residence property,
but not many sales, with the exception
noted on account Of the rigidness Of
prices. For small and medium houses and
lots the inquiry was astonishing, nearly all
the agents doing land-of1fce business. The
great majority OF the purchasers were sal
aried men and mechanics. This indicates
disposition to put savings into home and to
cease boarding,-a wise conclusion, since
house and lot costing $500 to 81, 200 will al
ways yield more than any broken savings
bank will pay in dividends on the same
amount. The railroad purchases in the VI
cinity of Canal and Harrison streets have
stimulated prices thereabouts, an owner re-
fusing S12, coo for sixty feet, wanting Sl5,00
There are some applications for acre proper
ly, but the boom" seems to have ended,
owing, doubtless, to the feeling Of owners as
to prices. There is plenty Of money, and
most Of the sales were for cash.
THE DAILY RECORD OF DEEDS
shows that purchases are mainly confined to
ordinary dwellings and lots for building pur-
poses. The demand for. this kind Of property
tial growth in nearly ali sections Of the city:
This is far better than any spasmodic and
speculative purchases, to become often tied
up with mortgages and therefore lie idle or
consume themselves with costs in the courts
for any piece Of valuable property in the cen
tral business. section Of the city. The sale
Of the Kendall Block, southwest corner
Of Dearborn and Washington streets,
surchasea efss s. Max Z wRenan Rs'n for i
lash The property fronts 20 feet on Wash
ngton street by IS on Dearborn The build
ng, though not fire-proof, is one Of the best
h the city, and commands large rental: It
Immense estate Of the late Michael Reese, OF
San Francisco. It is said that there is a
neayy mortgage on the property. subject to
WHICH II WAS purchased, uut tuIS VIII dt oncc
be paid off, as the: purchaser will have none
2f these plastered on his Wife's property.
This is also an example Of the way that Chi
eago is getting clear Of the lnoney-1enders
Property is gradually falling into strong
hands, and these troublesome,
CoNsHNIY-EATNG CANCERS
Ire being replaced by sturdy and healthy
growth in our business. community. The
lime when rival toWns-there is scarcely any
Of them left-.can reproach Chicago with be-
ing covered all over with mortgages IS nearly
al s our Another & her nota6e % sale IS that of John
De Koven for Judge Hugh T: Dickey, Of the
lot on which his elegant residence stood be-
fore the fire of II in Terrace row, on Michi-
Ean sopth Of a van Buren 9o5 ff 90 The s
:asl1-S300 per foot. The fact that Michigan
avenue is to be made the main boulevard en-
trance to the South Park is turning the at
tention of capitalists and those who, want
Mr.. Lyon, it is understood, has now eighty
feet perhaps more, Of this desirable property,
and it is surmised that a large building OF
Elegant residence flats will soon occupy ths
The prospective railroad on North State
street, WORK on which has already COM
nlenced, has had the effect to stiffen prices
on the North Side, particularly east of Dear
born street, since it will make residences
there more get-at-able- The proposed boule-
the railroad has caused more general
advance For examples: A lot on Ontario
street, near Rush, which was held short
time ago at $125 foot, was sold last week
for S210; and another on Indiana street, near
Dearborn. which was offered in January for
81, 500, was sold for S8,5o0.
THE MARKET FOE ALL KINDS OF REAL pRoP-
ERTY
is firm, but as rule, as stated, tho views Of
sellers and purchasers are wide apart. Hence,
while there is fair number Of sales, the
long as one would suppose if he refers back
to the condition Of things three or four years
Ego. Their! rea1ty could scarcely. be sold at
amy price; but now there is market for al
not tempt holders, but the fact that property
ran be sold at fair prices is cheering and i'm
Il. c. Morey sold: No. 497 West Monroe
S95ls9 60 Wit treetosy y<1s sfons l;3h ;9hht
frame, 5000; also No. $50 West Washington
street, with two-story frame, $500.
Edward Goodlidge, sold for Mrs. Sarah
Cobb to Helen McAlahon. No. 3s West Erie
B. j. E. Helsohn, Nos. Is, 50, and 81 Judd
ST 5. il. i. Kerfoot sold. for ST., 600 cash, a lot
on Indiana street between Cass and State,
also forty feet on Rush north Of Pearson,
running to Cass, to Nathan Nlears, at an ad-
vance On the recent price, Four houses are
to be erected there at once.
Jacob We'll d Co. sold the old Metropolitan
Hotel Building, corner of Randolph street
sld s;n FIFTY avenue, to John Borden for o:I S
and rented after May for 500 per annum.
Also. Al River street, 94x100 feet, four-story
prick, rented for 81, 500, to Henry Strong, for
$1,000 cash: the southeast corner Of Clark
rented for S. l0o to Washington Porter, for
81, 600 cash; 30x1SO feet, on Randolph street,