St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-09-12
ST. PAUL REAL ESTATE.
ST. PAUL REAL ESTATE.
The Market Continues to Gradually I'm
prove and is Daily Growing
Stronger.
Business Property Appears to be the
Most Sought for in all
Directions.
The Motor and Cable Lines Doing
Very Much to Develop the
City.
Eastern Capital Flowing In for In
vestment in Real Estate in
Large Sums.
A Strong Market.


A Strong Market.
There has been no change in the real
estate market during the past week, ex-
cept in degree. 1t has increased in
strength and tlrmness and the sales have
been larger than those of the preceding
week, while there has been an increase in
inquiries for property, and money cOntin-
ues to flow in more freely for investment
than ever before. The market has taken a
long step forward and shows a steady and
gradual strengthening up and an improve
ment that cannot be mistaken, and one
that indicates a very heavy fall
business. Last winter was "a
remarkable one in this city in real estate,
and to the surprise of everybody. sales
continued to increase in volume till Febru-
ary when they eased up little. but after
that the spring business increased until May
and June, when the labor movement
opened out and in serious degree curtailed
the whole real estate business of the cOun-
try. 1t looks now as though the business
in real estate would grow and increase in
the same way during the winter, and even
to greater extent than it did last winter.
Paul for investment. People seem to
have very healthy idea of the solidity and
vigOr of st. Paul, and a growing idea that
investments here are among the very best to
be found anywhere. The market presents
rather an unusual phase this fall. Hereto
fore sales have run in some particular di
rectiOn, and the attention of people has
been directed the same way. This is
changed, and sales are now made in every
direction, and, with one OF two exceptions,
transactions are well distributed in all parts
Of the city. The healthy tone Of the mar
ket has never been equal to the present.
This phase of the market is noticeable, and
is owing, probably, in a large degree, to
the fact that the greatest inquiry now is for
busiress property. Most of the money
sent here from the East for investment is
sent to be put into this class Of property.
BUSINESS PROPERTY.
The demand for first-class business prop
erty is steadily growing and capitalists are
eager to get hold Of choice corners or good
rent bearing improved property. During
the past week the highest price was offered
for choice corner on WabaSha street that
has yet been made public. A capitalist
from New York offered ST., 800 per front
foot for the southwest corner of Fifth and
Wabasha, which the owner declined, as
this would interfere with plans for improve
ments now contemplated. An offer was
also made to the owner, and declined, of
$575 per front foot for some vacant ground
on the north side of Fifth street.
near Minnesota. These straws indicate
how prices are stiffening up, par
ticularly along Wabasha. and from that
street to Robert and north to Seventh
street. There are also good inquiries and
considerable signs of activity throughout
the whole business district extending as
far east as Broadway.
Among the other localities that are COM
ing into active demand now for business is
Broadway, south of Seventh street The
Minneapolis & st. Louis and St. Paul q
Northern Pacific railroads are running their
trains to the Northern Pacific building, at
the foot of Fourth street, on Broadway.
The business of these roads is so rapidly
increasing that a new passenger depot at
the corner of Fifth and Broadway is now a
necessity. The construction of the cable
line on Broadway will bring all that prop
erty into active demand for business. and
everything in that part of the city is being
marked up in value, and sought after by
parties who desire to get business property
property of this class.
MOTOR AND CABLE LINES.
The agitation concerning motor and cable
lines is making a good demand in all direc
lions where these improvements are con-
templated. This is particularly noticeable
in that large and heretofore neglected dis
trict, lying south of Summit avenue and
extending to Grand avenue, st. Clair street.
Randolph street. and clear through Reserve
township. A large tract of land adjoining
Sylvan park ON the east changed ownership
not long since. and it has again been
sold. Everything desirable for plat
ting meets with ready sale at good
Several transactions in that direction
are rumored to have taken place which
have not yet gone ON record. The cable
lines that are to run both east and west are
naturally having good deal Of influence
on the value of property and gradually
causing the market to become stronger and
firmer. These additions to the means and
conveniences of travel in the city are
stimulating values very perceptibly and
will have far-reaching and extensive eff
feet upon the developing of what are now
regarded as the outskirts of the city.
Everything that has the effect Of increaS-
ing and cheapening the means of transit
to the suburbs cannot fail to aid
very materially in developing them. Prop
erty is becoming altogether too valuable in
and near the center of the city for residence
property. There are of course many that
can afford to hold it for this purpose, but
the large majority of people cannot afford
to, and are compelled to go outside, or ii
not wholly outside the city, nearly to its
limits OF course it is necessary that they
should have the means of quick and easy
transit. The cable lines will furnish this
in the eastern and western parts of the city,
and will go far toward building up both To-
calities, and many purchases have
been made in both directions with
view of being in time to catch
the expected advance. One gentleman
picked up last week $50, 900 worth
of real estate in the western part of the
city. and S. E. Dawson sold 200 feet Oh
Summit avenue, Terrace Park addition,
for S25, 600. In the extreme eastern part
of the city on Dayton's bluff, large sales of
property have been made in view of the
cable lines. In every respect the market is
stronger, more active, and more none IS
daily coming in for investments than ever
before
Although there has been considerable
activity for some time past in Summit Park
and Manson & Simonton's additions, as
well as on Summit avenue. and property
has been gradually advancing, it is still
active, and with the frightening prospects
for the new motor line, and the establish
ment of the new depot the Milwaukee
short line at St. Clair street, considerable
advance is looked for very soon.
Yesterdays TRANSFERS.
J Bryant to VIM Ladd, 1t % and &c, blk
H. Summit Park add. ACKNOWLEDGEMENTS 400
Same to w l. Lockwood, Its 10 to %, blk II,
Summit Park add ACKNOWLEDGEMENTS. 5000
j Larsen to j Sandberg, e 80 feet of 1t 8, blk
2. McKenty's out lots. .................... 1850
C II Harshstal to Moore, 1t 4, 5 and g.