St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-03-01
REAL ESTATE LOOMING UP
The Market Appears to be Very Solid
and is Gradually Improving
All Around.
The Demand Largely for Acres-Best
Business and Residence Property
Also Looked After.
Actiye-Progress ALI Along
the Line.
REVIEW OF THE MARKET.

REVIEW OF THE MARKET.
Although during the past week there have
been no specially large or noticeable sales of
realty the market has been gradually and
steadily improving. This, however, is to be
expected at this season Of the year. Week
by week the market becomes steadier and
stronger and slowly but gradually more ac-
tive. 1t is in all respects conservative. The
sales are solid and generally for the purposes
of improvement which follow in due
time. OF course, when real estate is so re-
liable as an investment as it is in st. Paul,
it is very natural that speculative people
with money should be found who would buy
on speculation. There are some such here
but the number is mparatively small, and
the amount invested in this way is not large;
for the reason that, generally speaking, IN
less the Spectator picks up outside acres
cheap, it is more profitable to improve prop
erty than it is to wait for slow and uncertain
advances on the realty alone. Nearly all
the purchases that have been made this spring,
except those of acre tracts outside the old
city limits, have been made with view
to immediate and permanent i'm
provements. This statement includes the
property in Union and Merriam parks which
has recently been taken into the city. The
whole realty situation shows that the market
is strong, prices firm, with an upward ten
dencY, and that very large lot of money is
likely to be invested this season in St. Paul
property. There is such solidity in all the
affairs of this city, and such sort of inan-
cial conservatism here that all have great
confidence in the growth and prosperity of it.
With half dozen railroads struggling to get
into the city, the per cent. bonds of st.
Paul selling rapidly at par, and real estate
steadily advancing, it is not surpris-
ing that the real estate market should
be solid, or that people with
money should be attracted to this point. The
points TO which the most attention is now
directed by purchasers are as follows: For
acres all along between the two cities; for
suburban residences, Merriam and Union
parks; for cheap homes and also for invest
ments, West st. Paul; for residence and bus
mess property for people of moderate means,
Dayton's bluff. This part of town has for
many years been neglected on account of a
variety of reasons, the two principal ones
are, first, the long, tedious litigation of L.
G. Dayton and Mrs. Lyman Dayton, and
their endless legal contests with the late
Parker Paine, who was administrator of
the Lyman Dayton estate, whereby the
title to all the property was clouded
and purchasers were frightened away
and second, the inaccessibility of the prop
erty. Both these drawbacks are now removed,
or nearly so. The legal complications have
at last been all settled, so that titles now in
that localitity are not questioned, and the
Seventh street fill is nearly completed, which
furnishes abundant and convenient access to
that whole region. The street cars will soon
be running out there and then Dayton IS
bluff which has heretofore been so far away
will be very near.
The fight in West st. Paul against the rail-
roads gaining possession of the levee wakes
warm. That part of the city has been SO
long neglected is coming rapidly to
the front and is gradually becom-
ing very valuable indeed. 1t
is likely to become a considerable center for
railroad and steamboat business. When the
railroads once set their minds upon securing
valuable property they are seldom defeated
They always fight with an eye single to their
own glory and never sleep. On the other
hand, the people as a unit, are made up OF
many minds. They become negligent and
unmindful of their interests, and then the
ever watchful railroads that are on the alert
step in and take what they want. The peo-
pie of West st. Paul will do well to guard
that valuable franchise; and yet at the same
time the railroads should be furnished with
such facilities for conducting their vast bust
ness interests as are adequate and judicious.
1t is to be hoped that a wise policy will be
pursued in the matter. Everything points to
a large business in real estate this year.
MISCELLANEOUS.
+. p. Berrsford has commenced excavat-
ing for new four-story brick block adjoin-
ing, on the west, the four story block he
erected n wear or two ago, on the corner of
Fifth and Minnesota streets. This block
will have a frontage of fifty feet on Fifth
street, with depth of ninety feet, and will
cost not less than $50, 900.
Higbee 81 Town have commenced eyca-
waiting on the north side of Fifth street. be-
tween Minnesota and Robert, for four
story brick block, 50x97 feet, to cost $780,
600
There is special inquiry for nice lots in
| Woodland park, and good prices are paid for
them. One lot in this addition was sold last
week for 10000.
Dayton's bluff is building UP very rapidly.
The construction of medium-siz buildings
has been going on in that locality all winter.
These are mainly frame dwelling houses
and small stores. large number Of SINH
lar structures are being erected in the vi
entity of the harvester works.
There is a great demand for dwelling
houses even at this early period, and the real
estate dealers have lists of names
of people who want houses and can
not get them. This. is the same
old trouble that always exists in st. Paul in
the spring, and in fact all the year. Houses
are wanted in all parts of the city, but they
cannot be supplied.
William \. Marshall has sold to Edward s.
orton blocks 2, 3 and S, in Gilbert's addi-
On, for S13, 800.
Franklin Wheeler has sold to Lena B..
ark 51M acres in section 49, town 20,
range 90, for SIS, 400.
William r. Marshall has sold to William
G. Robertson block ), Gilbert's addition, for
81, 500, and to n. D. Hause blocks / and 4
in the same addition for 50, 900.
Greenleaf Clark has taken out a building
permit for a three-story brick block and
dwellings 60X50, on the north side OF Third
street, corner Of Oak, to cost $4,000.
II. s. Fairchild & Son yesterday sold to
! A. II. Wider, for David Barker, j0xl5O on
sibley street, between Sixth and Seventh
streets, for $4,000: aud the same party
50x5O feet on the north side of Sixth, be-
tween Jackson and Sibley, for Maurice
/ LYONS, for $40, 900. BOib these sales were
| cash transactions and insnre the erection this
! spring Of two more fine business blocks
| These sales, in addition 10 the s43, 600 sale
| BY Messrs. Faircbild & Son at Lake Como,
mentioned few days ago, and some other
small ones, makes nearly one hundred
thousand dollars sold By this firm within a
/ week.
/ Mr.. Walsh, successor 70 Freeman IL Co. in
( the Merchants hotel block, hes leased 50x120
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