, 1881-01-02

will be recognized as the property on uie
north end of which the Union National banR
now stands T.,
II would not take half an hour in Wl'1ch TO
6,d n,anty of cas1, customers to buy it at the
original cost, interest, taxes, ETC., ASKING ho
deduction for the revenue had from 1t.
On July II, 1s41, Henry Looinis bought the
lot n, the southeast corner Of Dearborn anu
washington streets, on the north END or
which now stands the Portland Block, IN
which the Merchants Savings, Loan 4 Trust
Company has its banking office. The price
of this was 50, 1866 Now apply the same test
of interest, ETC., aud see how this TRANSACTION
turns ont.
II NAV now be interesting to some Of those
who take tie trouble to read this article 10
learn of a few Of the
PURCHASES WHICH MADE
the foundation Of the fortunes Of one or TWO
Of our present soIidIy wealthy men,
1Ir. E. II. Hadduck, for instance, pur-
chased, in 1883. the whole lot on the SOUTH
west corner Of Madison street and Fifth ave
nue.. sOx190 feet, for Sl03. The same gentle
man at the sano time purchased tne "hole
lot on the northwest corner, of Franklin and
Monroe streets for St05. He also bought the
whole Of Block 134, School-sectlon' N tle
CITY, having frontage Of 40 feet on STATE
street, and by the double front on Third ave
uue 800 feet on that street This properly,
the value of which can scarcely be estlmateo'
was purchased for $1B.
Another of our substantial men-lr. Ofse~
mus Morrison-purchased at the original
school sale in 1888 Block 7, School-sectlon
addition. for SCI. This fronts 400 feet OIL
uasted street and 416 feet on5aarrison street.
This property, now subdivlded> into lots, mas
q value which, compared with the original
cost to the owner,
IS SIMPLY FABULOUS
and beyond estimate. Benjamin Jones, Who'
from his great wealth and the size and value
Of the estate which lie left, was dlgn1hed
with the sobriQuet OF Golden JONES' pur-
chased, in 1s33 at the original sale OF the
lots and blocks in the Schooi-Sectlon Addi-
ton to Chicago, the whole block on which
the new palatial structure is now III course
OF erection by the United States for Custom
House, Post-Ofice+ United States Courts,
etc., for the Insignificant sum OF S5o5
This block was sold to the Government
Immediately after the great fire Of October,
1871, with nothing OH it but the ruins OF the
Bigelow Hotel. for S1,25o, GOO.
In illustration Of the actual substantlalrls
in value, and consequent profits on, the real
estate purchased at the Canal sales OF ls4S,
being the first sales made by the Trustees OF
the Illinois g. Michigan Canal under the re"
organization Of the canal adlnlnlstratlon,-
the experience of Messrs. Maealester, Gilpln
& Clarke, Of Philadelphia, will be perhaps
fair sample
These gentlemen, contributing in certain
proportions to common fund,
MADE A PURCHASE
in that year to the amount Of about $3S, ,W0,-
the land lying Immediately south OF Harri-
son and west Of Halsted streets. As their
agent Mr.. Kerfoot began to make sales for
them in 1853 and in the ensuing twenty
years had sold for them to the aggregate OF
upward Of S1,oo0, 900, leaving at that time
handsome residue nnsold.
III 1854 400 feet on Indiana avenue, and the
same frontage OIL Michigan avenue, were
bought from the Canal Trustees for trlte
less than SSO0,-a fraction less than 81 per
foot. In 1877, at pubic auction, by order OF
Court, in depressed times, fifty feet Of the
same property, being part OF the Indiana
avenue front Of it, and having its rear
against the rear Of Plymouth Church, sold
for S125 per foot, and has changed hands
since at $50. During the times Of Imitation
IT naQ pEG0 EDQSlNGIEu NOlL44 ~~1oV %@4AA q
as high as $225 per foot front.
In the matter OF lands lying within the
| limits of the City Of Chicago: Wolcott's Ad:
dition, bounded OH the east by State street,
and on the west by La Sale, and extending
from Kinzie street to Chicago avenue, sold
Sept %, 1880, for 81. .62 per acre, in all s1S0,
and the tract is now covered with elegant
| buildings and is
WORTH MILLIONS OF DOLLARS,
exclusive of those buildings.
Newberry's Addition was among the first
purchases Of Mr.. Walter L. Newberry, who,
dying, was able to leave to the City Of Chica-
go, for the pupose Of founding library, a
SUM SURPRISING in its magnlicence and mu-
nifcence even the gifts Of Royalty.
This tract Of land, as those who are ac-
quainted with the geography OF the city
know, adioins Wolcott's Addition. and.
though not quite 50 desirable as Wolcott's
Addition, makes the original investment, of
Sl24, one which, like that Of Wolcott's Addi-
tion, scarcely holds any relation at all to the
| present absolute and unQuestiona Bile value OF
the tract.
Several West Side and North Side dry
goods houses have been looking for
STORES ON TIE SOUTH SIDE
1Or SUlllt L1lnE paSts dI1u uu6 VI tAc pl4ACApt4
firms (Schlesinger s. Mayer have at lastse-
cured the building on the southeast corner
Of State and Madison streets, now occupied
by the Wilson Sewing Machine Company.
The lease is made for five years. Extensive
Improvements will be made ON both the ex-
terror and interior ol the building. Among
other things an extensive passenger-elevator
! will be placed in the centre of the building.
1t is designed to make the entire front OF
plate-glass, and to embellish the interior.
The lease covers the entire five stories of the
building, and it is the intention Of Messrs.
Schlesinger & Mayer to make the premises
when completed ole of the finest retail dry
goods establishments in the country. The
cost Of the contemplated improvements Is
estimated at $4,000. ..,.
Barnes & Parish report an increase of 10
per cent in the
RENTS OF DWELLING-HoUsEs
now being renewed. 1ene1nents are very
scarce. a large proportion OF tenants now
presenting themselves are newcomers.
Messrs. Pierce &,Ware have leased to the
Metropolitan Business College the third,
fourth, and fifth floors OF Rand g. McNally's
present building, Nos. n and 70 Madison
street for E2 nN 4 year ff7r five Years They