Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-04-15
REAL ESTATE.
Inc Market for Dirt as Active as For
Some Months Past.
DEMAND FOR PROPERTY LARGE.
A Few Large TRANSACTIONS. Building
Prospects and Probabilities.
THE NEED OF NEW TENEMENTe.
Some Public Spirited Citizens Who
Will Erect Few.

The real estate market in st. Paul dur
ing the past week has not been character
lied by any striking sales or purchases or
by any sensational transaction whatever.
The weather most of the time has been
rainy and the ground and streets too
muddy 30 allow dealers in real estate to
show their property. or for buyers to be
very anxious TO 20 out to examine. Yet
these impeaiments in the
way of trade, buyers have been as nu-
merous and inquiries just as frequent as
heretofore Mentioned. In this respect no
chanze can be noticed in the condition of
the market. Prices are solid with a de-
eidediy upward tendency, and business
property rs as firm as a rock, and any one
who desires to purchase any of that kind
must be prepared TO pay q solid price, es-
peclally III that choice location between
Wabashaw and Seventh streets, the river
and Dayton's bluff.
Within a short time large amounts of
foreign capital have been put into real es-
tate III this city. A considerable portion
of this he's come from Iowa, probably not
amounting to less than 100000. Chicago
capital has also been coming in
quite rapidly, and large amount of 1t
has been invested not only in the real es-
tate as such, but also in improvements of
the same. Everybody, especially those
from abroad, regard property in st. Paul
as comparatively low, especially in view of
the prospective future of the city. The
result Is that no matter where the property
Is located if it is offered at what is its par
value compared to other property similar
ly situated, it is not offered the second
time. 1t is snapped up on the first pre-
sentation.
The truth of the matter is the city is
growing so rapidly that business is crowd
ing out into places that have been neglect
ed for years. No part of ST. Paul is more
noticeable in this respect than the district
through which Fort street runs, from the
Seven corners out to the western city lin
its. For quarter Of a century this dis
trict has been avoided, apparently, and
when one comes to ask the reason none
can be given. 1t is high and dry, through
1t runs one of the principal thoroughfares
of the city, the location is naturally attrac-
tive, and it is backed by a beautiful range
of hills, crowned with some of the most
costly and elegant dwellings in st. Paul.
The stagnation that many years ago
settled down upon that locality seems to
be likely to be removed soon. Business is
beginning to reach out for that locality
The recent purchase of Mr. Forepaugh at
the Seven corners, as previously noted in
these columns, and the improvements he
proposes to make there by constructing
large business block, and the general &C
tivity all along up Fort street, where
large number of business blocks are now
being erected, point Enthusiastically to that
locality as one that is going to improve
very much within short time.
The GLOBE has mora than once referred
to the lack of tenement houses in st. Paul.
The subject is not fresh one the writer
well understands, but as matter of duty
the subject is referred to at this time, for
the purpose of again endeavoring to en-
force upon the attention of moneyed men
the fact that more houses that Will rent in
certain localities at from S15 to $18, and
in other localities from $50 to $50 per
month are urgently needed. Il seems,
however, that notwithstanding all the
urging that can be INDUCED in with
business men there IS an obstacle
20 building houses for the pur-
pose of renting that, in their
minds, cannot be overcome. That obstacle
lies in the law, of the state, which, in their
opinion, does not give the owner that pro-
lection and assistance that ne thinks he is
entitled to. He can't get bad tenant
out without more cost and trouble than all
the money he gets for rent amounts to.
This being the case it cannot be denied
that there is some reason for men not
wishing toput their money into the bust
ness. Many men have put some money
into small houses but nothing like enough
has been put in TO meet the requirements
OF the city. Few people, Notwithstanding
ali that is said, have an ade-
quate idea of the rapidity of
the growth of st. Paul. Mr.. D. ".
lngersoll, it is understood, is about to
build thirteen new dwelling houses on lyle
hart street, back of his house on Nelson
avenue. Mr.. j. Edward Ingham is about
to erect thirteen on Seiby avenue and
seven on Laurel avenue. These, however,
will be higher and more expensive grade
OF houses than the ones to which we have
Still this grade of dwelling
houses is needed also, and to certain ex-
tent will relieve the pressure.
The new business blocks that will be
constructed this year in ST. Paul will far
surpass in value and extent, measured by
the frontage, any thing done in this
city IN any previous year. By actual
enumeration of large, three, four, and five
story blocks, that have been begun, or for
which excavations have been commenced,
without counting small stores, it may be
stated that there are to-day valuable
blocks of this description to the amount
of over $2,500,O0O commenced in the city
of St Paul, covering a frontage of over
5000 feet. These are only the buildings
already started, and the sum total will be
largely increased before the season is
closed. This year will see more building
in ST PAM than ava- has baao I-ro1,, be