St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-05-02
ST. PAUL REAL ESTATE.
The Transfers Of Real Estate Continue
Large Notwithstanding the Rainy
Weather.
Values Continually Enhanced in Every
Part Of the City and Good Chances
Offered.
Valuable Real Property Sold on the
Corner of Eleventh and jack
son Streets.
Real Estate Considered the Safest
Thing in st. Paul to Put Money
Into.
ST. PAUL REAL ESTATE.
st. Paul Real Estate.

st. Paul Real Estate.
The situation Of the real estate market
has not materially changed from last week
All values are strong and firm. the demand
good, and prices steady. Notwithstanding
the weather has been very damp and rainy
nearly all the week. so that real estate
dealers have not been able to show prop
erty, except here and there piece, there is
no material decrease in the amount disposed
OF. There is no boom whatever. That is
to say there is no sudden activity accom-
panied with inflated prices. The move
ment of the real estate market within the
last year,-and especially within the past
SIX months. has occasionally been spoken
OF as a boom because the transactions
were more numerous than usual, and because
the aggregate value each week conSdera-
bly, exceeded the business of corresponding
weeks i'll previous years. But amid all this
increase, some of it very rapid, it is admit
ted, there has been no in prices since the eX-
element created on Mississippi street when
the Northern Pacific purchase of the Rice
property on that street became known.
That might have been called an imitation, as
prices, in many instances, advanced to four
and i've times their value Immediately after
the knowledge of the Northern Pacific pur-
chase was made known, and soon after they
fell again to the former prices or near to
them. Except this slight furry, values
have slowly but surely and moderately in
creased with undisturbed regularity. All
this increase grows out of one thing and
that is the fact that is apparent to any
one that st. Paul is developing into
great city. Because the business of
the weeks OF the present year,
beginning with January last, have
run from 100000 to $1,000 each week,
In contrast with $500, 900 for the preceding
year. 1t is no indication of boom in real
estate. All this is simply result, conse-
quence OF the growth of the city. The in
crease in business has been the result of a
solid,
SUBSTANTIAL, PERMANENT GROWTH,
which has been expected by those who
have watched the progress of the city most
carefully and closely. The city has
strengthened and broadened out in Won
derful manner. in its wholesale and retail
houses its manufactures and in all its arts
and industries, while it's population has
been gradually and steadily increasing
month by month and year by year. 1t has
been necessary to make room for the new
corners. They had to have homes and
places in which to do business, and lots
upon which they could erect such substan-
tial structures as would materially aid in
capital have been brought here and invested
and naturally has become "a part of the
general increase in wealth. There can be
nOnhf that rpal octafo in Ct &c
investment. Any lot, or acre of land,
within the city limits is cheap at the present
prices, and if bought to-day will next year,
or at any subsequent period, pay hand
some advance. The only question pre-
sented to the purchaser is as when to buy
so as to make the most money in the short
est time. Those that look back will regret
that years ago they did not buy this or that
piece of property, and hundreds of people
complain that they were so short-sighted
years ago that they did not buy. Precisely
the same opportunity is offered these same
people to-day, and in five or ten years from
this time they will look back with the same
regrets that they now indulge in. 1t seems
to be very difficult thing to convince
people that property for which $500 per
front foot is asked to-day. will in short
time be worth $1,000 per front foot. Those
who bought property years ago, and held
on have been made very wealthy. Many
people will remember what difficulty the
parties who mortgaged the old driving park,
now owned by Commodore Kittson. had to
dispose Of it to save foreclosure. 1t was
hawked about st, Paul for months, and
finally Mr.. Kittson. not wanting it, but
simply to relieve those who wanted to get
rid of the property, took it at about $50, 900.
This was only a few years ago, yet that
same property, aside from the added i'm
provements, could not be bought for
$3.50, 900.
THIS GREAT INCREASE
has been natural and general. All the
property between the two cities especially
has increased in like proportion. There is
plenty of good property. which, during the
next few years will increase in the same
way, and those who buy will be made
wealthy if they buy and hold, and it makes
but little difference which way one goes to
buy, either north. south, west or east. 1t
is all the same. The steady growth of st.
Paul has brought outside property into the
market and has doubled up invest
ments very rapidly. There is just
as much more of this ''margined" property
coming into market in the future as there
has been in the past, and there is just as
much money on it in the future as there
has been in the past. The development
of the past year is constantly being re-
peated in the succeeding year. Year after
year values have continued to increase and
in the future they will continue in the
same way as the city continues to grow
and expand, and each succeeding year will
present similar opportunities for profitable
investments. The movement that will
exist here in the future will be as it now is
simply the development of great city.
miscellaneous.
A good deal Of curiosity has been caused
here during the past week by transactions
that have taken place in the region of Tan
ner's lake, between the Saltwater and Hudson
roads, about three miles east of the city. The
curiosity is still further increased by the fact
that the purchasers have been Saltwater
people. The Potter tract of 100 acres has
been sold for $4s,000 and other Saltwater
men, it is understood, are interested in other
heavy purchases in the vicinity. 1t is re-
ported that recently the Chicago, Freeport s.
st. Paul road has been surveyed higher up
than the old survey and than these purchases
have been madejust along this survey. 1t is
also limited pretty loudly, too, that the Wis
cousin Central, the ST. Paul s. Duluth the
Omaha, the Chicago. Freeport s. st. Paul and
other lines on the east side of the city will
bQil0 "A large transfer ont east Of tho oitv