St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-03-30
ST. PAUL NEWS.
REAL ESTATE.
A Slight Increase in the Demand for
Eligible Property.
The Transactions Numerous-Building 0per9'
tions Very Active

No marked change has taken place in the
real estate market since our last review, and
no large transactions that call for special
mention have taken place. The only no
ticeable feature is that the market has settled
down more within the last week than it has
all the rest of the time since the spring
opened. Real estate dealers have brought out
their plats and many of them have rear
ranged their lots to render them more eligi-
BILE and more salable. Especially in this
case out on Dayton's Bluff. The comments
made last week in regard to the property in
that part of the city still hold good. Every
day increases its value. The certainty of
street car service far out Seventh street, and
in fact, branching out right and left to other
parts of the bluff has done much to largely
appreciate property in that direction.
AS strange as it may seem lots, nor acres,
are now offered for sale mile east Of the
harvester works, and for considerable dis
lance northeast of them. This property, but
a short time ago was simply wild land. Prob
ably this part of st. Paul, illustrated as well
as any portion of the city what great change
has taken place here. The price of real es-
tate within mile of bridge square has so
largely increased that people, especially of
moderate means, are compelled to go further
out to get homes. The result is that large
settlements have been made on the out
skirts of the town, with churches, stores, sa-
looms, and all other indications and accom-
paniments of modern civilization, and COM
fort. The settlements out in this
direction extend all around from
the river on the south up through
Siegle's addition, across Seventh
street, past the harvester and plough works,
over beyond the Nelson lumber company,
and East st. Paul, up onto Arlington flights.
This section of the country is developing
wonderfully, and large population is crys
talizing all around on the hills and the val
leys through that part of the town. Of course
it is quite natural to expect that property
values in that section would largely increase.
Mr.. H. s. Fairchild has plated and ar
ranged a considerable part of the land he
owns out there all along Seventh street, and
will soon have it in the market. Others who
have property in that part of town have done
likewise, so that the probability is that con
siderable offerings of property in that section
Will be made.
1t was reported yesterday that the Nelson
Lumber company had put upon the market
forty acres in East st. Paul, for S4S, 900, and
that syndicate had been formed to pur-
chase it with view of placing it in the mar
ket. This is at the rate of 81 200 an acre for
real estate over two miles from bridge square.
This property is very desirably located and
will cut up into lots without any waste.
The principal demand during the week has
been for garden lots, residence and suburban
property generally. The call for business
property does not usually commence till
later on in the season.
Those who come here from abroad with
view of making St. Paul their home must
first select and complete place in which
to live, after which they will look for bust
ness investments. Preparations are being
made for the construction of a number of
blocks, such as the big hotel, the chamber of
commerce building, the Drake and other
blocks, and work will be commenced imme-
diately. The warm weather has been very
favorable for the past few days and if it con
tinues work on all the structures contem-
plated will go forward quite rapidly.
Work has already been commenced on
the Sherman block on the corner of Waba-
shaw and Ninth streets, and the stone ma
sons are at it with vigor.
The matter of rents is still troubling the
minds of men, and women too, here in st.
Paul. There were many who, short time
ago, believed that the supply of houses con-
structed lastyear and the year before, under
the pressure of general public opin-
ion, would be sufficient, together with those
that will naturally be erected during the
present year to meet the demand that would
be made by the influx of people.
The result is showing that all such
people were very much mis-
taken. The demand for houses
cannot be supplied even now, when the sea-
son is just commencing. 1t is probable from
present appearances that there will be at
least SO per cent. more building this year
than there was last year. 1t will all be
needed and more too.