, 1881-07-10
Coqent Reasons Why, in the Interest OF
City and County, 1t Should
Sell the Rest.
The Building Boom Continues
unabated-The Records OF
the Week.
Tile Glorics OF South Park-Va-
: eating La Sale Strect-Other
Real Estate Notes.

nate President Garliciu sIlu llle i'So " o''e
day out Of six. which was devoted TO Tie eS-
piosion of 1ire-crackers and the burnl1" OF
lInumcrab1e thumbs. the market Kept wen
up with that Of the preceding week, and 11le
volume Of business Transacted WAS equal ~,
il not above, the average OF the year. Ae
number If transactions was comparatively
small, but tie amounts Involved were large
enough to counterbai;tEce that, and the 1lrst
nine days Of the month show returns "hlch
compare very fay0rlbly with those
OF any other similar period at the
commencement. of any month for
years past Prices are apparently growing
sitter every day and the demand continues
strong for every Kind Of property. 1t Is not
confined to any particular class. but Is Eeu-
cral in its scope, taking in business property,
inside residence property. suburban proper
t., ami improved and uni,nprove'l property
The advance over previous prices ald this
steady and very general demand for all DC
scriptions vi property, make the outlook tor
the summer trade very promising.
Il there Dc a demand for alty one kind Of
property more than another, it is for inside
lots, which are especially hard to get hold
OF. There is I'LL unusual demand. rs the
dealers have observed, for small 1ots by ln-
boring NEIL and people OF small means Eeh-
orally.
Inquiries by intending purchasers during
the past week confirm the prediction already
made by THE TRIBUNE THAT the removal OF
tie Board Of Trade to its new site, opposit
the Lake Shore and Rock Island depot.
would he followed by 4 demand for resi-
delice property III tie suburbs reached by
those roads, i'll order to accolilnl0ttate Dtlsl-
neSs-:nen vito will follow tile Board and
As.t,f rf9rr %ff sA
1lear1,ess of the depot to their places OF
business i'll the city, and the short tlnlc, re-
1uired to ride thcretorm to their suburban
homes.
Tie extraordinary figures received for the
Reform School property during the past
week are only another Indication oI the grow
ing demand for real estate south ht the city
limits, and, with the Increasing facilities tor
travel to and from the suburbs, there is no
good reason why this growing demand should
not be more marked.
An indication as to the value of property
i'll the neigEborlltn,4l OF tie Graves tract was
furnished during 'hs past week: ;,>l, It WIS
the lots in that tract sold by tie Exchange
week before last, had been bought by
people who would hs: willing to
part with thcir, purchases for far
advance. 1t was therefore proposed to call
the certificates received by purchasers OIL
payment Of the first iO prr cent OF tile p1lr-
chase money Wetincstl;s; afternoon :, The
buyers. however. were unwilling 10 Setl our,
even at all advance OF SO lstr foot
THE HEFoRe1-sCIoOLp PROPERTY.
The principal evcHt Of tho past week was
the sale Of a portion of the Eeforln-School
property, which occurred last Thursday. No
recent event has furnished Il more striking
= instance of the boom in Chicago real estate.
The lots disposed Ut by The order Of the
Board Of County. Commissioners formed q
part Of the rcsnbdiyislon OF the Reform
School property. which covered the south
twenty-five acres Of the northwest frac-
tlnnal Il Of Sec. :, Township IS north,
Range II, e:st Of the third princi-
cipal meridian. The land lies between
Clinton avenue and Forty-tllirl street,
and extends west from the tracks Of the ILL
nois Cent r:ll Railroad to Cottage Grove ave
nue.. 1t is crossed by Hyde Park avenue,
E..iutlaie avenue. :1lld South Grove park way
or DreNcl boulevard, and includes sn1ne
splendid boulevard frontage and many eligi-
blk. building sites. Tie sale covered eighty
four lots, in Blocks :; aud !. being the west
erl, Lalf OF The restbtliyisioi,, and IF these all
but three lots were sold i'll couple of hours
upon then by the County Beard.
Tie sale was held upon the grounds iii
cfusnp of tlIlber Il few rods west of South
Grove parkway DrcNel 1oulcyard). Thcterms
i'll one, two, anu three years, bearin. per
cent interest payable scnsi-annually. Ten
per cent OF the purchase money had to be
put up 1T the time Of sale VI III the County
missioner Pnrington was empowered BY the
Board TO act Us :uctoueer, and the
Board, witt! the exception Of CON-
missioner O'Nei!l. attended the. sale
climbed up i'll his wagon and announced that
the sale WAS about to beg in Beside the
,nc,nocrs Of the Board, there were present
cx-Coil,,Mi;ssioncrs !: J. Clongll; Y. Il. Bur
spao1S sjss Mis Mass'sf wet vi; eefSs gon "
Treasurer. johnson. Warden Mills. of the
County Hospital. T. j. Sexton, Thomas
Moran. ". {. Mcdonald. Mr.. Bond, Of Tur-
George Weiss, ". $. Hale, William Lane, j.
Johnson John T. Kelly, and others.
The properly was offered in single lots. the
3ucct.ssfnl bidder llayin. the option Of tak1..
not to exceed four adjoining lots. All the
lots. except ail odd corner o.. two. We're
twenty-five feet front. and varied from 15D tn
ISL fee1 in depth. The first lot offered was
Lot IL III Block !. situated s,n the west side
street. The Upset price OF this and Similar
lots was S110 Der front foct. The bidding
started 1T S1lo and rail- up from SEQ BY bids
of - each Until $40 w:s reached NJ. t.
Thomas Nelson took Lots :, s. ., and 10 at
E1:N.
The pressure began Ia be hard about this
time for the amateur :.uctocer OF the Col1i,-
~ Board. and llc gracefully vacated in favor
of Mr.. {. {. Tlayer, who >ignalizcd his
opening BY Offering Lo1 No. ! at tile upset
price of 500. After Il spirited competition
this was knocked down at $50 per loot to
George Weiss, who claimed Lots l, -, AMI
! 1T 1Iosa;}.nreS nnu who also secured Lots
) uld & I'll Fl3:1. Nj. Weiss bill OH account If
Commissioner HUT.
This closed ont tile lots Oh the west side Of
the boulevard. a;la Mr. I'lslyer offered Lot
5. in Block; on the nppt,sit side Of the
;Aornu.sllfare III the EI,set price If 500. Me-
Donald secured this 1T S1U) prrfuot. and touk
The four northern lots - -, aud IL; thus
getting another corner. Lot y; started ut
f:o per fout, and gave rise tn; spirited COM
petition, the bids jumping along in avery ir
:eEular manner until Si;;0 waS reached. At
al> urice Mr.. Mcdonald took Lots 3i -, n "a,
Ind -, and thus secured still another eligible
corner.
lot p fell to Maj. Murray, at 50; per foot, |
- above the Upset price The remaining
3o,,'cvarfl lois were temporarily passed, and |
the alctioneer called fur bids III the Cottage
:5rOve avenue frun;ag., in Block !. tie ie-
served price Of whicl, was $50 per foot. Lot |
81 ram up by 81 bills from 50 to $40, and tell
to " j. L3u.psoll. vino declined to avail |
/.