St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-05-30
ST. PAUL REAL ESTATE
The Effects Of the Labor Troubles on
the Real Estate Market Fast
Disappearing.
Confidence Being Rapidly Restored and
Property Coming Into Greater
Demand Than Ever.
business Property Is Specially Inn
proving and All Kinds Are Largely
Inquired After.
The Transfers Are Rapidly Increas-
Ing in Amount and Are Above
the Average.
ST. PAUL REAL ESTATE
An Improving Market.

An Improving Market.
The real estate market during the past
week has shown no particular change, and
no special or marked improvement is OBJ
! servable. There has been about the same
amount of real estate changing hands at
prices that were firm and steady. The re-
covery from the setback given to the mar
ket early in the spring by the labor agita-
tlon seems to be slow, and a few dealers
think it somewhat doubtful if dealings in
real estate gets back fully to what it was
before the troubles began. Values have
not been reduced Prices are fully MAIN
tanned. The point is that the edge has
been taken off the market. The keenness
to purchase has been dulled. There is some
doubt and hesitancy, and consequently de-
lay. The market appears to be steady
ing up somewhat and improving. and
will, undoubtedly, regain its former
position before great while. The storm
OF discoutent that during the last few
months SWEET over the land has spent its
| force, and the real estate market, like every
other department of business, is now re-
covering from the effects of the cyclone.
One OF the most encouraging signs of the
| times is the hOpefulness and confidence
everywhere expressed in all branches of
trade in the future. No one expects any
serious results from the storm. Ali admit
that it will take little time to recover.
THE REAL ESTATE MARKET
has probably suffered less from the agita-
ton than almost any other department., in
business. In thrifty city like st. Paul,
with all its surroundings and unbounded re-
sources, it is very natural that everybody
should have high degree of confidence in
the value of real estate and in its desirable
ity as an investment. AS natural re-
suit of this confidence it is safe to
say that activity in this line
will return sooner than to any other depart
ment of trade. An average of transfers
amounting to $500, ZOO per week is large
average This has been the average through
the dullest part of the season of the labor
troubles, and many weeks it has gone far
beyond this amount. This week the sum
total amounts to S637, S35, which shows that
the revival of business has already COM
menced. This fact appears from other
sources too. While business has not been
active it has been clear all through the week
that there was a better inquiry for property
than there was during the preceding week
and more money was coming in for invest
ment. Besides this there has been all along
market that no consequences of the labor
troubles could shake or impair. A few
persons have been somewhat influenced,
and partially inundated into certain
degree of doubt as to the propriety of in
veSting in real estate. On the other hand
many, being influenced in the opposite direc-
ton, have concluded that an investment in st.
Paul real estate would be safer and more
prOfta Bile investment than anything else
that money could be put into. This last
class is rapidly increasing, and public COLI
fidence is rapidly being restored, not only
in regard to real estate but also as to all
other kinds of business.
DEMAND FOR REAL PROPERTY.
The request for real property has not ma
terially changed from what it was last
week and week before. The demand for
outside property is rather more limited than
it was week ago, while the desire for
business property has proportiOnately in
creased. This demand amounts almost to-
activity, and in nearly every case the pur-
chaser intends to improve the property
purchased. Just at the present time Sew
enth street presents very active part of
the city in regard to building, especially
that part of it OH the south side. above
Jackson street. Just above Jackson Mr..
Dennis Ryan is excavating nearly the whole
Of the block fronting ON Seventh for
large block of stores of about
$50 feet front, which are to be five or six
stories high. On the southwest corner OF
Seventh and Robert streets Mr.. William
Dawson is having the brick hotel
rearranged and the lower part remodeled
so as to render it suitable for stores. On
the southwest corner of Cedar and Fifth
streets Timothy Reardon owns q tiftv-foot
lot, and next adjoining it on the west Mr..
Mark L. Potter owns a similar lot. These
two gentlemen are now actively engaged in
the construction of large brick block, with
stone trimmings, which will be 100-feet
front. These nearly fill up the south side of
Seventh street. and render it a pretty
solid thoroughfare. The most surprising
part of this street. though. is the upper
part of it, that part above Wabasha extend
ing out past the base ball grounds and the
Omaha shops. All along up in that region
where few years ago there was nothing
but frog ponds and tlocks of ducks and
geese kept by a few poor families who lived
in one-story buildings that were cheaply
and poorly constructed. can now be seen a
very large number of three and four-story
brick business blocks. These are
nearly all filled and the tenants
are apparently doing business that
is satisfactory. while back of the buildings
is located large and thrifty population,
forming very satisfactory body of custom
ers. The demand for property ON that
street is good. Investments are also sought
for all through West ST. Paul, and business
property there brings good prices. 1t is
difficult to go anywhere in the city where
business and residence property is not in
good request. In all respects the real
estate outlook is very favorable, indeed.