St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-03-14
ST. PAUL REAL ESTATE.
The Real Estate Market Still CONTINUES
Firm and Prices are Very
Stiff.
A Large Part of the Inquiries for Prop
erty is Now Turned to Inside
Property.
Seventh Street Property Receiving
Great Deal of Attention, but
Little to he Bought.
Ouite n Movement In Real Estate IN
tho vicinity of Broadway and
Fourth Streets.

1,anses allowed both ends of the year 10
meet. with a little something LETT over lhere
was some degree of cOntcntment among
business men. and some limit Wa found
Cor their desires. Now il is different. The
making of q dollar now creates the desire
tomake more. and acts as sharpener TO the
appetite for money getting. Among those
who have been most successful IN money
making in St. Paul for the past few years
are the real estate men. Ihey nave accu-
INFLATED money with great rapidty, ana
sold property over and over again at fabu-
Ions advances at each sale. and yet they are
not satisfied. These real estate men want
not only to sell lot or hundred
of them but they want 10
cell the whole earth, and they
would do it. too, ten times day If they
couId yet . chance and make good round
profit on il at each turn. The amount OF
business, transacted by these men last year
was very satisfactory to most citizens OF 81
Paul. but while the real estate men looked
on with satisfaction on the work accom-
pliShed. they did not, after all, regard II as
much 10 boast of, notwithstanding the safes
exceeded any previous year III the history OF
the city. During that year millions OF dol
lars worth of real estate changed hands,
and commissions rolled into the pockets of
tie ICul tNldtt A-NllAN III ~ wy N'4NN 'A'NN
tncm smile. When the last season closed,
or rather when il ought to have closed, 1t
gradually run into the present year,
and instantly the real estate
dealer said at a glance that he had struck
very bic thing. Though it was in the dead
of winter sales multiplied, and the stream
of trade in reality deepened and broadened
and widened continually, and rolled money
INTO every mans pockets that touched II.
Since The opening of the new year there
has been no lull. On the contrary, sales
have kept well up and far beyond eXpecta-
lions. SO that the sales this year, up to the
present time are undoubtedly twice as
large as they were at the same time last
wear All real estate agents show renewed
activity and continually increasing transac-
tions tell he result. And yet these gentle
men vino handle ST. Paul realty are not
satisfied. They would be much better
pleased TO sell cut all Of the Phalen, Como
and Midway property twice a day. That
would be something like business. and each
real estate dealer would have q little
Pactolus running into his modest little
pocket.
INSIDE PROPERTY.
During the week the inclination of buy
ers 10 pick up inside property has became
more and more manifest. Inquiry for this
description is is now made very frequent.
and much of tho inquiry is for that which
lies between Wabasha and Jackson, and
Seventh and Third. This property, which
Is convenient and central, and which at
present is quite low, or, at any rate. not
high has long been treated with indiifer-
ence and is really low compared to property
in any other part Of the city. The best
price that can be obtained for property on
Seventh street is $500 per front
foot, and it is believed the best
price yet paid was $500 per front foot.
Yet Seventh street is really the best street
in the city for trade. This shows as clearly
as can be shown, that the property ON one
of the principal streets in the city, where it
is natural to look for good prices, is really
cheap 1t is much cheaper to-day on these
streets between the boundary mentioned
above than a good deal of the acre property
is that has been sold lately. The time is
rapidly coming when all the property in
the district referred to will be-
come greatly enhanced and will
stand for as high price as
any in st. Paul 1t is destined to always
be high-priced. Many calculate that the
business center Of st. Paul will change very
materially within few years. This may
be. but the property referred TO will not be
MATERIALLY REDUCED
in value at any time. or calamity like the
grasshOppers may be inflicted upon the peo-
pie of the Northwest sufficient to paralyze
business and reduce all values of every de-
scripton. Such a misfortune would be
very serious and would cause a fearful
shrinllage. as it did eight or ten years ago
when the wheat crops and every
other green thing in the Northwest
was swept from the earth by the
locuSts. In such a case all real property is
affected alike. The valuable in less pro-
portion than that that is less valuable. Such
property as is referred to is less liable to be
reduced in value even with such a calamity
as is referred to them is other kinds, eSpe-
cially that that has an inflated and unnatu-
raj price put upon it. Nor will change
in the location Of the business center make
any change OF consequence. Many express
The belief that the center Of the business
part OF st. Paul will sooner or later be out,
somewhere in the vicinity OF the former
residence of Mayor Rice on Mississippi
street. When this city grows so large as to
crowd any considerable part of the business
of st. Paul out into the location indicated
il may be expected that the present business
center from Broadway to Wabasha street
will have increased in proportion. 1t is
not at all probable that the center Of trade
can be thus removed Nature has much to
do with the foundation of city, and it is
not in the nature of things that the business
center should move away from the river
front. Business will very likely be extended
out in the direction of Mississippi street
especially if the Northern Pacific should
as has been talked of, erect railroad depot
on the old Rice place. buG such extension
would not tend to decrease business between
Broadway and WabaSha streets. 1t would
simply result in a natural distribution Of
NORTHUMBERLAND BUSINESS.
In the natural course of business, If the
town grows i'm any direction, trade between
Broadway and Wabasha must necessarily
increase. There is no possibility of build
ing away from this territory, and whatever
tends to build up some other part of ST.
Paul and to fill that part with big ware
houses and busy manufactures, will be
done only by a corresponding increase in
the business of every other part of The
town. 1t IS not reasonable to suppose that
real estate between Broadway and Wabasha
and Seventh and Third streets will ever
be substantially any lower than
it now is. Dull times, business disasters.
graSShvpperS or some other calamity NAV
cause this property to be slow of sale. but
as soon as business again revives, or the
calamity is removed, prices will instantly
be restored. Attention IS nov being GEN
orally attracted to this inside pioreTty. All
winter outside acres had the cali. and every
body was hunting for them in all directions.
Never before was there such a general and
universal hunt for this kind of property.
Immense purchases have been made in all
parts of the town, and in many instances
parties have gone over into Dakota and
Washington counties, where large farms
were bought up. Almost everybody seems
10 have loaded up with it, and now as the
spring months are approaching. it is very
natural that there should be an active