Daily globe., 1883-06-17
REAL ESTATE.
Il QUIET MARKET FOR DIRT DURING
TIE PAST WEEK.
A Good Inquiry for Desirable Locations for
Business Buildings-The Embarrassment
Caused by Street ImprOvements-The
Transactions for the Week.


extent that transactions were very limited
indeed, and the records accordingly show
very small aggregate compared with the
weeks that have gone before. There are
good many buyers in st. Paul at the
present time. All have money, and all are
anxious to purchase, but so far the
weather has not been favorable Alto
gether the past week must be set down
as one of the dullest we have had this
season.
The only transaction this week of any
account is the sale made by
Fl. Greve & Co. of what is known as the
Bernheimer block, lot 10, block "a, st. Paul
proper. This property is located on the
north side of Third street, between Cedar
and Minnesota. The lot is so front on
Third and has depth of $50 feet, and has
a large three-story building on it. The
price paid was $4,000 cash, and the pur-
chaser is Charles Lackhardt, of Pitts
burg, Pa, the we'll known Standard oil
man. It will be remembered that Mr..
Lackhardt bought the Nicols & Dean prop
erty on the northwest corner of Third
and Sibley streets. Mr.. Bernheimer
bought the property in 1856 from the
bishop of st. Paul, he having obtained it
from the bishop of Chicago. It is a piece
of property the rents of which will net
over 10 per cent. on the investment.
1t is pretty difficult in such a city as St.
Paul, where real estate of all grades is so
valuable, to really and definitely determine
where it is most desirable to locate with
an expectation of the best returns. The
whole city is growing in all directions,
north, south, east, and west so solidly and
so rapidly that a man must have some
special reason for selecting any locality as
being the best. For the man of
moderate means Dayton'5 bluff
undoubtedly presents the most
promising chances for making money. The
property on that bluff, owing to the nu-
merous law suits that grew out of the set
tlement of the well known Dayton estate,
and its inaccessibility owing to the nu-
merous railroad tracks that run along the
foot of the bluff, and the scores of trains
daily passing back and forwards over them.
|
facilities at the foot of Seventh street, has
been till recently substantially kept out of
the market. 1t was not long ago that a
whole block could be bought for a sum not
exceeding what some of the lots are now
worth. Some of the most lovely locations
and residences on that bluff were but a
short time ago nothing but patches of IN
derbrush and scraggly oak trees, gnarled
and crooked from the biting blasts Of many
ugly winters. Now these little places
distributed all around the bluff, are beauty
spots, and are helping to render that far
off, and heretofore neglected land, attract
i've and beautiful. When the Seventh street
improvement is completed and
the people have an opportunity to cross
that ravine over a safe structure, the prop
erty all along from Lafayette avenue and
Collins street to the river must necessarily
feel the effects, and experience the benefit
of the improvement. OF course that blnff
can never equal St. Anthony hill in the
stateliness, variety and magnifcence of its
dwellings. The latter spot is bound to be
the best residence property in st. Paul.
All natural circumstances tend that way.
What these are is so we'll known that they
need not be enumerated.
There is no doubt that this year there
has been more tendency to the suburbs, or
perhaps more correctly speaking, to the
outskirts of the city, than ever before.
Property has appreciated in value in and
near the center of the city to such an ex-
tent that those of moderate means have
been compelled to go further out. The re-
suit is that West st. Paul property has
greatly increased in value. The same may
be said of property in East st. Paul and all
around the east and north of the city, all
across to and back of Oakland cemetery.
apd still further around to Rice street and
elevator B. All this land is being laid out
plated and brought into market quite
rapidly, and all of it is in quite desirable
part of the city which is bound to be soon
filed up by the natural and rapid over
flow of the city's growth. In conse-
quence of the numerous public improve
ments the city is now engaged in making,
all these outlying districts are daily being
|
sewers, the street pavlngs, the sidewalks
and street gradings which are being ex-
tended further and further out from the
immediate center of the city
render access to these heretofore
distant places so much more easy and so
much quicker, that the property in these
outskirts that has heretofore been regarded
as wild land, is now coming into market
and will soon be settled up with an indus
trious and thrifty population.
The filling up of these outlying districts,
the grading of streets into them, and the
making of them an immediate and active
part of this bustling, thriving city is sim
ply matter of necessity. No one could
look for any other result. During all this
season people have been thronging into St.
Paul. Her fame has been spread abroad
as one of the most solid cities in the
union in financial way, while the i'm
portance of her location is acknowledged
the moment it is examined. Her future
growth is not and cannot be questioned.
The result is that people from abroad who
come here desire to invest, and thousands
! hora baro 70 looo+a