Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-07-02
REAL ESTATE.
A Good Demand and stiff Prices Asked
The Sales Indicate a Permanent Basis of
Prosperity - KavanaugiI's Sales for the
Weel1-The New Chamber of Commerce
The Record Of Transfers.

The real estate market during the past
week presents the same solid, uDdistur5ed
front that Il has all along. No astonish-
! ing. noted sales have been made and no
sensation OF any description has occurred
/ to cause any unusual attention. Prices
/ are very firm, and while there Is no special
/ advance there is no sIackness or wayering
IN prices. Everybody that has property
IS satisfied to hold it, being convinced that
there is no use to hurry IN disposing of it,
and that it is better at present to hold
than to sell, unless an exceptionally high
price can be obtained. At the same time
buyers are waiting and watching and look
ing out for soft snaps" There is no
boom and no artificial crowding up of
values. Prices have fixed them
selves, in the natural order of
the growth of the city and there
they seem likely to remain for the present
only to be advanced another peg in due
time. This condition does not pertain
alone to any one particular locality but it
exists everywhere throughout the city, and
causes prices to be held with the utmost
frmness in every locality. Dur
ing the past week the above |
statements we're strikingly illus !
trsted. Nearly 100000 dollars worth of
real estate belonging to Israel G. Lash was
offered for sale for cash, with no credit |
whatever The result was that there we're |
plenty of bidders and all the property sold |
at good strong prices. The bidding was |
sharp and at times, on some pieces very |
spirited indeed. The property did not |
consist of any specially choice pieces. but |
was scattered all about everywhere. Some /
of it was desirable and some of It choice, |
a mixture of everything, but If all sold !
straight away the good with the bad. This /
may be taken as a fair illustration Of the !
condition OF the market, and as the sale |
was strictly for cash it shows the market /
to be very solid.
The week has been characterized by an /
improvement in the amount of sales and /
the number OF inQUirers. An unusual /
number OF buyers from the east are here /
and all are looking around aud studying /
up the market with a view of purchasing. /
Some have commenced taking hold. Eighty
lots in John Wann's addition, on the corner /
of Summit and Smelling avenues, were /
sold for $4,000. On Dayton's bluff thirty
lots were sold for 4,5OO, and out near the
Harvester works forty acres were sold for
$50, besides eighty-nine lots in the
same locality for 1925 per lot. These are
but q few out of the whole sales of the
week. but, taken in connection with the
sale of the Israel G. Lash property, men
toned above. they may be regarded as
affording some evidence of increased &C
tiv1tY in the real estate market.
committee of the scandinavian Lu-
theran church has been here during the
week looking out for suitable grounds for
a college between the two cities. 1t is in
tended to locate here a college for the
whole United States, with a view, more
particularly, of supplying the require
ments of minnesota, Wisconsin, Iowa and
Dakota. They propose to put about $780,
600 into it to start with and add more as
time and circumstances may require. The
Scandinavian Baptists, aided by the Rev.
Mr.. RiddelI of the First Baptist church, are
/ the location of college between the two
cities. Liberal offers have been made to
! these institutions to go elsewhere but they
have concluded that it would be much the
best way to locate in the vicinity of st.
| Paul and have so decided. Would it not
pay the owners of real estate to make lib
eraI offers to the founders of these col
! Ia 70 4Ia-- 1oo
| ton here. Before Manchester college was
! located the property in the vicinity of the
spot selected would not bring more than
about $3.50 per acre. Now property all
around sells for from $500 to 5000 per
acre
! TIE NEW CHAMBER OF COMMERCE.
The committee appointed by the cham
Der of commerce to consider the matter of
a location for the new chamber of COM
MERGE building has had several meetings
and has determined upon location which
it will recommend tomorrow morning to
the chamber. The location selected is
known as the Tavernier property, on the
southwest corner of Fourth and Cedar
streets. This property has frontage of
eighty feet on Fourth street and is 100 feet
deep on Cedar.
KAvANAGH's SALES.
Kavanagh, the suctioneer, has been doing
land Office business during the past
week, and has lifted up his melodious voice
to some purpose. Yesterday afternoon he
sold thirty lots in JiIsons addition for
$14,82O, one lot on Park avenue for 5000.
The big sale of the week however, and the
one that he threw himself into was the
great sale of the Israel G. Lash property.
This amounted to about $4,000 and was
a strictly cash transaction. He sold all
the property, comprising several hundred
parcels. at decided advance on the ap-
praised value of the property. The total
amount Of sales at auction for the week BY
!, | g TO1