Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1883-06-23
REAL ESTATE sEvnw.
4 Cllnpse u the Pasa asA . Peer late
the FutoRe.

the FssaFe.
Since our last article on this subject
The real estate market has been in .
hearty condition and prices have re-
NAMED firm improvements are quite
general and more houses are nov in
,oorse Of construction than at any pre-
sious time In the history Of the city.
4 prominent real estate operator said
yesterday, The greatest drawback TO
our city Is the lack of houses for people
20 live In. could rent 500 elialoly To-
Gated houses IN thirty days. Isere -
more call for cottages than any other
class of houses, bat anything With roof
oysr it will rent"
The Yssler-L sary building, the finest
brick structure IN the Territory, 10 now
practically completed and viii be occu-
pied By the first of July. Enough OF II
tsress on the investment. Ii 10 an I'm
posing structure and . credit TO the
builders a. veil a. 10 our city.
The new Occidental In now RAPIDLY
assuming proportions The nrsf story
hLkJtG t86 OR0ckACAs - ~ o64 49, "S'-
being pushed vigorously ahead.
Foundations for G.. p. Stones new
brick, on Front street. and the Schvs-
bacher brick, on Mil street. are being
laid. and these buildings Will both be
completed during the present season.
Ranke d Lohss are preparing TO COM
meme the new briek ENGINE house. tbs
contract for which vas recently awarded
TO them.
Mr.. Rauke recently contracted for
LOO tons Of Bellingham Bay stone, TO
be used IN the foundation OF buildings
here.
An enormous amount OF street work
has been done this season, and much
more has bean provided for, and is nov
uudef way. Jackson street II being
graded from the water front 20 Lake
Washington, a distance OF over two
miles, and q sidewalk will be laid along
the entire line. Fifty men are now
pushing the work beyond the city HIM
It's. Madison street has been ordered
graded from Fourth street cast to the
city limits, q distance Of nearly two
miles. Fifteen or twenty other streets
are now being graded and improved,
and many moro will fellow.
A number of big sales have recently
been made both in inside and outside
property. The district sold the four
lots known az the Central school prop
erty for $30, 900; the Sisters sold their
second street property for 5000, and
90 We might 90 on indefinitely.
A few years ago General Tilton sold
Is lots in Maynard's addition TO General
McMicken for $500 each. These LOIS
cost General Tilton $25 each some years
before. General McMicken transferred
the property to Captain Ainsworth at a
slight advance. This property today is
worth between $1,000 and 4l00, 900,
some of the lots having recently been
sold az high as &c, 900 each.
Considerable Improvement is going on
along the water front. The railroad
company have already commenced tear
ing away the old Marshall wharf to
make room for q magnificent copper
piled structure to cost al least Sc, COO
| to DO used in conjunction with theiI
present wharf, which 10 too small FOL
their rapidly increasing business.
The new sawmill Of Reilze j. McDon.
aid, in front of the Judkins addition, ID
receiving its machinery and will be
running In . few weeks.
The Michigan Compauy's new mill
just south Of the barrel factory, viii
soon be 70 sdy for business.
The Star Manufacturing Company
which recsniy leased the old grist mil
property, - Also putting IN additional
wood working machinery.
The railroad 81 smiil ID being crowded
TO its utmost capacity, and expects soor
to run nights, 80 great are tho demands
| upon il.
Stetson d Posts mill il crowded viii
orders, a. Is the Yesler Mill and Manu-
factory, which has recently been en-
larged and improved.
| The Seattle Lumber and Commercial
Company have all they can do, and ar,
also arranging to increase their facili
ties.
George Kinnear contemplates at M
early day TO build large saw mill or
his property in the northern end ol
| town, with large outing capacity
The Western mill on Lake Union Is be-
ing enlarged, and moro powerful on.
Rines are being placed in it. The Phin.
ney mill on Lake Washington il run.
ming on full time, and Mr.. Phinnsy
will have arrangements perfected e
cell lumber In Seattle a. soon 20 the
canal between the two lakes 10 opened
Captain Renter, Of Port Blakely, 70
GENTLY purchased q number of water
lots near the foot Of Pike street, at an
expense Of fiji 600, and it Ii stated will
soon establish q large lumber yard
thereon.
The Milton mill. across the Sound, il
about ready TO start up, with an in.
creased outing capacity. These, to.
Rether with Hall, Paulson d Co.'s mill
| and the mill few miles above town
ought 70 b able to turn out enough
lumber TO supply the local demand next
season.
Az business increases along the wats.
front It has been found necessary Ia
improve the roadwsys along there. Ac-
cordinely the City Council has ordered
the alleys through blocks A, b, G. o
| and 3 Of Denny's addition, between
Marion and Union streets, piled, graded
and improved 90 that teams can pas
over them.
As showing the advance in local real
estate during the past three years Ne
arc privileged 70 cite the following: In
1870, A. Mckinnic, the Pacific Mutual
Insurance Manager, took an interest,
with several others. In q water front
block in tho southern end Of town, pay
ing fer his share 3l1.6O. He subce-
quently purchased the interests Of his
partners in the property, and spent
some money In wharvinQ ever his block.
his whole outlay being about $4,000.
Later, when opportunity offered, and to
make himself safe on the transaction,
he sold one-half the block for a, 700,
and yesterday he sold the other half,
Stetson b Post taking Q quarter of the
block for $500 and the Lake Washing
ton Mill Company tho remaining quar-
Ter for $1,000, or what 10 its equivalent,
the two Phinney lots on Ninth street.
with the eight houses thereon, the ACTUAL
cost Of which vas over 5000. Mr.. Ne
kinnie has thus received N the aeRre-
gate e2l 100 for the block, an advance
upon its original cost Of 81, 200, or oyer
400 per can't.
An advance In values even more 70
variable than any Jet recorded in this
article, has occurred in Laws aecoud
addition. Five years AGE one Of the
leading real estate men Of the city
closed out in single transaction thirty
lots he held there at &2.O . lot, or for
S75 the while number. These lots
have since sold at $50 apiece, or twenty
times the price Of 1873.
The promiscd buildinQ OF the new
H. - - 4