St. Paul daily globe., 1886-12-19
ST. PAUL REAL ESTATE.
The Market in Realty Continues Steady,
With Firm Prices and an Una
bated Demand.
Buyers Picking Up Property All Around,
and Do Not Seem to Hesitate at
Prices.
Strangers Still Continue to Come to
St. Paul, and Are Investing
Very Largely.
Property Sells on jackson Street at
$1,000 Fer Front Foot, Which
Surprises Some People.

The peculiar feature of the real estate
market during the past week has been the
anxiety to secure desirable business cor ners
and favorably located business property.
Charles Miles sold 5Ox1O0 feet ON Jackson
street. between Fifth and Sixth streets. for
$50. 600. Several other large deals in high
priced property were negotiated and num-
Der of parties were busy canvassing the
ground to find favorable locations to i'm
prove. The Miles sale is the first actual
sale at 81. 600 per front foot consummated
in ST. Paul. To those who have given the
subject of values in other cites careful con-
sideration, it has been source Of astonisl-
ment that prices have remained so low In
st. Paul. Many other cities far less favor
ably situated and with less s0lld
basis of values, have far out
stripped this city in the prices
realized for their best business properties.
This has been largely due to the conserYa-
tism of many of the leading citizens, who
are still Oh the bear side OF the real estate
market. As an illustration OF how this
operates, it is we'll known that the south
west corner of Fifth and Wabasha streets is
held at such prlce by the owner that
large institution desiring just that site
would not listen for a moment to the price
asked. and probably would not buy 1t at
$500 per foot less than the least price tile
owner would accept. and yet gentleman
from New York. who was here last fall,
after looking the city over very carefully,
offered 81, 500 per front foot for 1t, and the
offer was peremptOrily declined. The caDl-
taliStS who come here from other cities are
always willing to pay higher prices than the
men who have Lived here since st. Paul
was a village. They have seen all this
property at such low figures that they can
not comprehend the change which has
made it worth 81, 600 per front foot and up
ward. The section of the city over on
DAYToN's BLUFF
is beginning to show decided signs of
activity. and inquiries are much more
numerous now for property in that locality
than they have been for two or three years
mast. The completion of the Third street
bridge will bring all that territory con-
siderablv nearer the business center, and it
is a fine elevation on which to live. 1t is
evident that there will be much more
movement in real estate and business gen
eralIy than there has been during any pre-
ViOuS year.
The real estate board seems to have
settled down to regular business. The
members hold a session every morning from
$50 to 10. The organization has already
OutgrOwn the room now OccuDiad i'll the
National German American bank building,
and the members are searching for larger
rooms. There are over fifty of the leading
firms represented in the board, and applica-
tions for membership come IN almost every
day. Those who belong to it regard 1t as
very advantageous in facilitating exchange,
and a great many sales are cOnSummaied
on the board with much less delay
and trouble than before the board was
in existence. Those who have read and
considered the real estate transfers during
the past fall and winter have undoubtedly
noticed the peculiar character of the large
majority of the sales. While there have
been a few large sales that have run up into
the big figures, the great bulk of the trans
fers have been made up OF purchases rum
ming all the way from $500 to $4,000 or
81. 900. This fact is one of the most prom
ising and hopeful signs that these weekly
statistics exhibit. 1t shows most conclu-
siyely that many mechanics, and laborlng
men generally, have been saving daily,
weakly and monthly small sums, which
they are now putting into homestead. and
ul.
people fran abroad are continually coming
here to settle. and have purchased lots upon
which they will in the spring erect homes.
There is no question but during all this
winter. in spite OF the old bugbear of cold
weather. there has been a steady
flow of population into st. Paul.
So marked has this feature of the
real estate market become that inquiry was
made last week of nearly all the principal
real estate men as to the kind of people
that are buying so much of this moderately
low priced real estate, and the universal
reply was that they did not know them.
s"rhey are strangers who seem to have
inst come here and having some money
want to secure homes as soon as possible.
They seem to have come to stay" Many
of those who are making their way to st.
Paul. so far as can be Judged, have only
moderate amount of means. Probably
enough to obtain home and little mole.
A smaller number have large means and
come to st. Paul to invest it. Many per-
sons of this class have succeeded, and not
one has failed 10 OBJ ain abundant returns
for their investments. Never in the his
tory of this city has the influx OF people,
who came here TO settle been SO great in
the winter as it has been this year.
EFFECT OF THE DIFFERENT UNIONS.
The last two or three years have brought
forth a new kind of organization. which is
rapidly multiplying throughout the city.
This organization is known as the Union"
One is organized in nearly every ward of
the city, and each one is looking out very
sharply for the advantage and improvement
of the ward in which 1t is located. A very
large amount Of public Improvement will be
done through the influence of these unions.
If any one desires to ascertain what can be
accomplished by one of these Organizat Ons
in way OF public Improvements, all he has
TO do is TO learn what has been done in the
Sixth ward during the past year, and to re-
member that the Third street bridge is
chiefly the result of the persistent efforts of
the DaytOn's Bluff union to secure 1t. The
unions have had streets graded and
extended that would not have been improved
but for these organizations. 1t is
through this influence that Day
toms bluff, to-day, has the street
railway, electric lights good water supply
and good fire apparatus. 1t is through the
agency of these unions that the Fifth and
Sixth wards will be made to bloom and
blossom. They commenced on very small
scale and at first were very insignificant.
but now have come to be very important
and influential factor in the Improvement
of the city. They will be somewhat eXpen-
sive agencies. but good. after all.
Sales of real estate are numerous and very
large. running over all average of over
million week in the middle of the winter.
EEisce!Iane GUS.
p. r. Kavanagh sold fifty-six lots in block
E g