St. Paul daily globe., 1884-03-16
ST. PAUL NEWS.
REAL ESTATE.
The Record of the Week-Spring Move
ment.
Something About Rents-Building Prospects,
Etc.


and timid manner, still it was discovered,
and the real estate men Immediately took
courage, and well they might, for inquirers
and purchasers began to make their appear
ance and business improved very perceptlbly'
Yesterday being mild and pleasant everybody
was out showing property.
An addition is to be built to the st. Joseph
academy, on the corner of Western and Mel
son avenues, 1O0x1OO feet, three stories
high.
j. A. Vincent, from the south has pur-
chased Mrs. Judge Halls residence on Mac
kubin street for $4,000.
The most important matter that has trans
pired during the week in regard to real estate
is the fling of articles of incorporation of the
West st. Paul Real Estate and improvement
Syndicate. This is powerful syndicate and
is made up of Robert A. Smith, Herman
Greve, Ansel Oppenheim, A. Kahlman, E..
Langevin. The capital stock of the syndicate
is fixed at 81 100000. The purpose of the
organization is to buy and sell real estate in
West St. Paul. It is understood that the Or
ganization has also in view the matter OF
street railway over to West st. Paul. 1t is
composed of some of the besircal estate men
in St. Paul, who are governed by good judg-
ment, and large experience and who are
backed by unlimited capital.
SOMETHING ABOUT RENT.
AS the spring approaches the matter OF
rents, especially in regard to dwelling hou-
ses, becomes matter of considerable inter
est as well as Importance. OF course 1t Is
natural to expect some influx OF population.
That comes every spring, and suitable proVi-
sion must be made for the accommodation OF
those who come here to cast their lot with st.
Paul people. Several years ago good deal
was said in this city of the scarcity OF dwell
ing houses here. Most of the remarks were
very just, and at that time quite number OF
our business men and capitalists, in compli-
ance with the general demand, erected
large number of dwelling houses, both singly
and in blocks, and during the time that has
transpired since the construction Of dwelling
houses has gone on quite regularly.
Notwithstanding this, rent have kept up
to a very strong figure, in spite of the fact
that efforts have been made from time to
time to obtain reduction. The only rea
son why rents have kept up so well is that
the supply has not been equal to the demand.
They are governed by the matter of supply
and demand the same as any commodity in
the market If the market is overstocked
the price will be smaller. If the supply is
short the price will be larger. The fact is
that, Notwithstanding all the effort that has
been made in st. Paul to construct dwelling
houses, the number has never been equal to
the demand. Every spring sees st. Paul
short in this respect, an as the summer ad-
vances and people arrive to secure homes,
they find accommodations of the kind refer
red to quite limited. As it has been in the
past so it is likely to be in the future.
AS the spring opens this year there is
every evidence to calculate on the same
scarcity of rents. Real estate men tell the
same story to-day that they told last year at
this time. People are continually seeking
rents and finding few. Later along in the
season they won't find any, and then another
great cry will go up that there is nothing in
the shape of dwelling houses to rent in st.
Paul. One real estate agent last week rented
five dwelling houses to people from Milwau-
kee who had come here to reside, and he had
but one more dwelling house on his list and
that was almost rented, with a certainty that
it would be taken before nightfall. There is
not vacant store on Third or Jackson
streets, except the one on the corner OF
Third and Wacouta.
On East Seventh street there is but one
vacant store. On Fourth street there will be
six or eight stores in thirty days. On Waba-
shaw street there is not one vacant store to
rent, and this is the situation all over town,
now, just as spring is opening and people are
beginning to come to make st. Paul their
home and place of business.
In regard to the amount of rent required
for dwelling houses it is pretty difficult to
speak with much accuracy as the price de-
pends upon somany facts and circumstances,
On st. Anthony hill, good comfortable houses
with seven or eight rooms can be rented for
for S25@35 per month. Those containing
nine or ten rooms $40 to $50. A two story
houses on Summit avenue, between Dayton
and Rice streets $75 per MONTH twelve rooms.
On Summit avenue proper, south of Dayton
avenue there is nothing to rent. All are oc-
cupyed by the proprietors. There are not,
generally speaking, many houses on st. An
thony hill to rent. Most people who have
built out there reside in their own houses.
1t is only now and then that house for rent
in that locality can be found. In west st.
Dc, 70 far1
residences there for rent, for the reason that
the west St. Paul Land and Cottage Associa-
ton has been at work there for several years,
so that large portion of the people own their
houses and lots, the association having built
the houses on land owned by the association,
both to be paid for installments by the ten
ants. In lower town good comfortable eight
room tenements generally from $40 to S45?
nine or ten rooms $50 to 660.
Over the hill, beyond Valley street, near
the railroad shops, and also out in East St.
Paul there are small houses suitable for very
small families that rent for $15 per month,
and even some as low is S12 per month.
All these structures, however, are one story
and were built for men who labor in the
shops of the railroad company. On Dayton S
Bluff rents have always been more moderate
and they vary good deal, running all the
way from SIS to $50. Of the latter figures
houses are very scarce indeed. Rents will
not probably change much on Dayton's Bluff
till the bridging and filing over the railroad
tracks and the creek has been completed.
When this is all completed and the street
cars are running over there an advance in
rents viii probably take place. The sum
total of the whole matter is that so far as the
amount of rent is copcerned it varies SO
much and depends upon SO many other things
that it is difficult to give any satisfactory idea
of It and all that can be said about the mat