Daily globe., 1883-08-19

The location of the big hotel on the cor
ner of Seventh and Robert streets has not
yet ceased to affect the market. The effect,
however, has been somewhat different from
that expected before the location was fully
settled upon. The influence of this great
transaction, instead of being general and
reaching all classes of property, seems to
have concentrated the ideas of buyers upon
property in the vicinity Of the location,and
withdrawn attention to considerable ex-
tent from outside property. Certain it is
that the latter has been neglected through
out the week. Of course, there are good
many buyers of lots for homes and 1mme'
diate use. What is meant is that the loca-
tion of the hotel has not caused any special
and increased demand for outside prop
erty. 1t is no stronger or more sought
after now than it was before the site of the
hotel was fixed upon. The location seems
to have had no special effect, except to
withdraw attention from outside property
and concentrate il on inside real estate.
In regard to the property in the
vicinity of the hotel the inquiry and de
mand is good. OF course, it naturally
could not be anything else but good. 1t
is even more than this. Everybody sees
what an advantage it is going to be to be
near the spot where this immense struc-
ture is to be located. 1t will, as everyone
conceiyes, create center of business, and
attract people and trade. Naturally
everybody feels an anxiety to get into the
general whirlpool and secure location
near to the ''big hotel" The result of this
is that all real estate men are trying all
sorts of devices to get hold of property on
adjoining streets, all of which is now held
at pretty high figures.
The syndicate that was intending to
build from Robert to Jackson on the
south side of Sixth street will not be able
now to do so for the reason that
Mr.. Langevin has taken such course that
it makes it impossible for the syndicate to
carry out its intention. Mr.. Langevin, it
Is well known, owns the southeast corner
of Robert and Sixth streets. 1t was at first
the intention of this gentleman to join in
the big block that should extend from
Robert to Jackson on Sixth street, but he
finally concluded that he would not build
with the syndicate but he would sell his
property to the members of the syndicate
if that organization wished to buy. Of
course, they would buy rather than not to
build the block clear through as they at
first intended. When, however, they began
to talk about the price, Mr.. Langevin
named $4,000 as the price he was willing
to take for his lot. The syndicate,
when it heard the sum named
squinted up the nor west corner of the off
eye and whistled long note Of surprise.
The members of the syndicate asked again
so that there might be no mistake as to
the price and found that $4,000 was the
story. This settled the matter. The
members will not pay this sum but they
will build all the same. They think they
can get along comfortably without pay
ing such price. At any rate they will
try to.
The largest price paid by the front foot
on any of the adjoining streets near the
site of the new hotel was paid for twenty
five feet next west of the new chamber of
commerce site on the southwest corner of
Robert and Sixth streets. For this piece
measuring twenty-five feet on the
south side of Sixth street
Messrs. Greve and Oppenheim, who con-
summated the sale, got $500 per front
foot. The name of the purchaser they de-
clined to make public. 1t is regarded as
a very large price, Notwithstanding it is a
very desirable location.
Messrs. Greve and Oppenheim have sold
their double house on Summit avenue to
Mr.. G. V. Bacon for $4,000. Mr.. Greve
will erect for himself a new house on the
corner of Summit and Western avenues.
He has the plans already drawn for the
structure, which indicates the construction
of very elegant house. Mr.. Oppenhelm
has had plans for dwelling for himself
drawn also. These gentlemen will go right
to work and put in the foundations this
fall. SO that in the spring they can proceed
with the work.
Capt. NJ. j. O'Connor sold fifty feet on
Minnesota street, between Sixth and
Seventh streets, for $4,000.
A good many other sales have been
made in the locality, but none of them
have been made public. Everybody is
figuring very slyly. There is no doubt a
large number of men with capital are look
ing closely after bargains in st. Paul at
the present time, and most OF the atten-
tIon of these gentlemen is confined to the
locality bounded by Third, Eighth Jackson
and Wabashaw. The objective point miq ht
be considerably more concentrated by
buying close up around the new hotel
| site.
In saying what has been said above, it is
not intended that it should be understood
that all attention to other property has
been withdrawn. The usual
transactions in residence property have
occurred. The principal attention of
buyers is not, however, turned that way.
The market is in a curious situation.
Prices are very firm, and money enough
is present in the market to buy all that
purchasers think can be bought cheap, OF
even at reasonable price. At the same
time holders are very stiff and firm in
their demands, and manifest nc