St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-28
There Appears to be no End to the Demand
for Real Estate, and it Still
Increases.
Money Flowing Into st. Paul for Invest
ment-sOme Heavy Sales--A New
0Dara House.
Seventh Street Property Wanted by
New Comers--The City Filling
up With New Blocks.
Everybody Anxious to Buy and While
the Market is Looking Very
Favorable.
The Review.

marked in extent. but steady and contnu-
ally increasing in volume. The published
sales do not give much of an idea OF the
amount of property that is daily changing
hands in ST. Paul. Many of the large trans
actions are not made public, probably more
than one-third of all sales being kept out of
the papers. The secrecy about this matter
is much more widespread and general than
it was last year, Every one appears TO be
anxious TO get all the property possible and
each one is therefore anxious 10 keep what
he gets from the public. The transactions
during the past week cover all kinds of
property outside as well as inside, and bus
mess lots as well as residence property. The
INQUIRY for business property, however,
has very decidedly increased, especially ON
Seventh Street and in the territory between
Seventh and Third and Wabasha and Jack
son streets. Most of the inquiry comes
from people from abroad who come here to
ST. Paul with 4 view TO embark in some
kind OF business, and who proceed at once
to hunt for a location. Of course the first
street they seek for is Seventh, and they
are suddenly disappointed to find that there
is nothing to sell on that thOroughfare in
any location regarded as desirable. Most
people who own property on that street,
especially from Broadway TO WabaSha, de-
sire 10 Mold 1t or to improve ii themselves.
Tie consequence is that those who come
here TO embark in business are compelled 10
accept OF locations on Minnesota, Cedar,
Fourth, Fifth or Sixth streets. These streets
are Just as good for many kinds
OF business, but it is not always possible to
make purchasers believe this. Ii one who
has resided i'll st. Paul many years will
take the trouble to call to mind what sort
CT spot that territory has been that IS
bounded by Wabasha, Jackson, Third and
Seventh streets, he will easily discover
that
GREAT CHANGE HAS TAKEN PLACE
there. Seventh street is all built up. Sixth
street is built up to Robert and nearly down
to Cedar. Fifth street is pretty well filled
with large and costly structures, some of
them five stories in height. Fourth street
is nearly filled up, and when the GLOBE
building and the court house are completed,
it will present the appearance of
pretty active business street. Thus it will
be seen that the territory spoken of is vastly
changed. and in all probability few years
more will see it very active part OF the
business portion of st. Paul. 1t is into this
part of the city that trade must, to con-
siderable extent, settle. Here it is that the
large business houses will continue TO be
erected for the next few years until the
space is filled, and there are those among
our business men who say that the time
will come, and that, too, much more speed
lily than is expected. that all the territory
below the bluffs. clear down to and including
Woodward avenue will be all given up to
business. During the past week Mr.. Ed
ward Langevin has consummated the pur-
chase Of a One-half interest Che already
owing one half III lots and 6, block Ii,
Whitney e. Smiths addition. and strip
% feet front by $50 feet deep, running
from Fourth street along the west side Of
Broadway. This gives Mr.. Langevin the
entire property on the north side of Fourth
street, between Broadway and ROsabel,
1877 front by 125 feet deep. 1t is an ex-
tremely valuable piece of property. A cor
poration with over a million dollars capital
has been here all the week seeking for a
suitable location OIL which to erect block
about 100 feet front by $50 feet deep and at
least four stories high, all of which
would be occupied by them for their own
business. Plats of different pieces of prop
erty have been submitted, and 1t Is thought
they will
CoNsUMMATE A PURCHASE
soon somewhere in the vicinity OF Broad
way or RoSabei street, and not farther back
than Fourth, Fifth or Sixth streets. The
Finn forty acres, lying south of Merriam
Park, has been plated into third addition
to Merriam Park, and was sold on Wednes-
day last for 81, 800 per acre. Robert street
property is in active demand, and sale
was made during the past week at between
$500 and 500 per front foot. The corners
on Wabasha street are being eagerly sought
after, and it is not unlikely that
a sale will soon be consummated that will
in nf a inn N
being erected opposite the new city hall and
court house, either on Fourth OF Fifth
street. The completion of the new city
ball and court house, the construction Of
the new GLOBE block on the corner Of
Fourth and Cedar streets, the contemplated
erection of bonded warehouse and other
improvements, is making great activity in
the vicinity of these improvements. AS
the new bridge over the river on Robert
street begins to show up, people stop and
wonder that they never realized before
that Ducas street and Eaton avenue
on the West side and Robert street
on the east will constitute one Of the great
est business thOroughfares in the city, but
such is the case, and men who hold lots on
these streets are beginning to appreciate
the increase In value which the new bridge
will add to all the property on both sides of
the river. The labor troubles seem to have
suggested to capitalists and people of mod
crate means that real estate IN a thriving
city like st. Paul Is safer investment than
railroad stocks and bonds, and so
MONEY is COMING IN FREELY
for investment. Some of the well-known
and reliable agents have liberal sums sent
to them with instructions to invest
upon their best judgment. Uniformly
investments for the past five years have
proved profitable, and in multitudes of
cases, remarkably so. One instance has
come to light during the past week where a
well-known citizen put about So, 600 into
some business property In 1888 and since
that time has paid taxes, assessments and
interest and he sold out during last week,
realizing $50, 900 for his interest. He says
this is better than gold mine. This, of
course, was a very favorable investment
but within the past year many lots have
been sold in West st. Paul for prices rang
ing from $500 up to 5000 which two or
three years ago actually cost the
owners from $50 to sos per lot
only. 1t may be said that these
are the exceptions, but the fact is they con-
stitute the rule. One may search through
out the city for people who have lost money
IN real estate within the past five years, but
few can be found. If all have made money
in real estate in a dull period. what will be
the result if we have few years of pros
perity and general activity in the country?
The comparative cheapness of business
property in this city is inducing men of
means to look into the question of investing
here in st. Paul. Capitalists from Wiscon-
sin and Iowa are in the market seeking
anything that seems to be at low hgures.
Representatives of Eastern capital are also
on the lookout, and some heavy invest
nents here for improvement will be seen