St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-11-07
Pretty Sure Indications That the Present
Low Prices Cannot Last
Long.
How Property is Held on Seventh,
Sixth, Broadway, Wabasha ana
Other Streets.
Some of the Old Settlers Buying Coca
Inside Business Property for
Investment.
Selling Dirt.

contracts have been maze WIFI TeIeTeIce
to other and large properties. It's obvious
20 shrewd business men that the present
prices on business property cannot last
longer than the present winter, and that II
they desire to secure piece for improve
ment it must be secured soon, or they will
have to pay the advance, which is sure to
come between now ana next spring. Week
before (ast Hon. Alex Ramsey who is al
ready 4 large holder in St. Paul real eS-
tate. lrchased 100 feet front on Cedar
street, between Fifth and Sixth, simply
because he never expects to see property
as cheap as it is now held. He has
watched the growth of this city from its
infancy and is one of the Shrewdest of the
old settlers He does not sell, but when
properly is offered at the present low fig
ures he occasionally buys. During the
past week ID. S. b. Johnston, who is an old
settler and one of the very shrewdeSt real
estate dealers that has every operated in st.
Paul. purchased lot 4. block Z, OF Whitney
d Smiths addition. This is on the north
east conner of Sixth and Wacouta streets.
and is 50X150 feet. The price was So O00
which is 500 per foot for Sixth street
frontage. He has another lot adjoining this
one on the west, anG it IS probable that he
bought lOI 4 DCllldliCilA ilNCNtiuCIls with q
view to improving by building. He can
we'll afford TO buy al that figure property so
close to the business center. Hon Gordon
E. Cole is reported TO have purchased
a lot on Sixth street, between Cedar
and Wabasha at S425 per front foot. He
too. is an old settler and his business fore
sight led him some years ago to commence
investing in st. Paul real estate. He inn
proves ali he buys and 50 has a remuneratiVe
property from the outset. IheSeaTe fair sam
pies of the steady. level-headed gentlemen
who are wise enough TO see that invest
mentS in inside business property is safe
and sure TO be profitable. Old citizens are
generally extremely conservative but
good many are quietly loading up with this
inside property TO keep as a heritage for
their children. Strangers who come here
and look the city over. men who are well
informed as to values in such cities as De-
trot. Buffalo. Cleveland. Omaha and Kan
sas City, are astonished to learn that prop
erfy within from three to six blocks of the
RYAN hotel can still be bought at from $500
to $500 per front foot The very cheapneSS
of this INSIDE business property has fright
ened off a good many timd BUYERS. The
unsold lots between jackson, Third. Sew
enth and Wabasha that are now to be had
for anything under $500 per foot are
picked up
ABOUT AS FAST AS OFFERED.
There is nothing offered on Seventh
street between WabaSha and Broadway.
and nothing to speak of on Robert from the
bridge to Seventh street Absolutely
nothing can be had on Jackson south of
Seventh street. East of Sibley to Broad
way. and along Broadway. there is but
little frontage that can be had. 1t would
be good scheme for all the railroad com
panies to buy up the frontage Oh Broadway
and build their headquarters on that hand
some and convenient street. The Northern
Pacific officials were shreWd enough to Sc
cure 2O0 feet frontage. and to place their
Headquarters bu lding SO as to command a
full view up Fourth street, and now they
are utilizing their other 100 feet as depot
ground for the Minneapolis Il st. Louis
and the ST. Paul u Northern Poetic. The
Manitoba, through the far-s seeing shrewd-
ness of James J. HILL. has half block on
Broadway and Third streets, which
is to be utilized for new
and more commodious headquarters
building soon. Now. if the Minnesota 81
Northwestern. the Chicago. Burlington d
Northern. the Wisconsin Central and some
of the other trunk line roads should con-
cIude also to build on Broadway it would
make that the railroad exchange of the
Northwest The tTackage of the railroads
between Fourth street and the river is al
ready SO crowded that the time is not far dis
tant when they will need and will almost be
compelled to buy all of Klttson'S addition
living south of Sixth street and east of
Broadway. Ii was lack OF appreciation of
the coming necessities Of these great trans
pOrtaton lines which prevented their secur-
inc all this area at an early date. when the
land was cheap. They all realize now the
mistake made. and will continue to do so
more and more as their traffic and mileage
increases, When land along Broadway
comes to be worth $1,000 per
front foot and that east of
il from 500 to 5000 per front foot
the necessities of the roads will have SO in
creased that they will be almost compelled
10 take it at any price. There is virtually
no property offered for sale on Third street
between jackson and Wabasha. North of
Seventh. as far out as Tenth, and even
Fourteenth street there is a good demand.
and it is conceded even by conservative men
that it will all be needed for business II the
near future out to the foot OF the bluff.
THE REAL ESTATE BOARD
hogan daily sessions on November l, and
met every day last week, except on Tues
dav. election day. at II M. with nearly all
the members present. The noon session is
very brief anu is intended to give the MEM
hers an opportunity to make offers of prop
ertv or to announce wants" Sew
eral large sales were cUnsummated
ON the board during the past
week. At the meeting Thursday one of the
members announced that he Offered a GER
tain D, ece of business property al price
named another member asked for the re-
fusal till next call board. and promptly
st noon. Friday, closed the sale by check
and contract. Quite an interest has been
aroused and there is good deal of pressure
10 get in now. as it is understood that
when fifty firms or members have been re-
ceiyed the original number contemplated
will be full. and some new plans for the
mutual advantage Of the members only
will be adopted. The daily call board, ="
after good tral. has been pronounced a
decided success. 1t Is likely that the time
is moi far distant wien this corporation
will want building of its own. where the
real estate business of the city
can be concentrated. The Title In
eurauce company. recently organized,
had its entire capital stock of
S5OO 600 subscribed without canvasSing
Cor subscriptions. and ii is said that appli-
cations were received and filed for 300
ehares more than the entire capital stock
nrovided for. This organization has taken
Temporary rooms and hopes to be ready for
business some time next year.
I'm this connection it may be mentioned
tbot there are a number of substantial cor
norations now in the city needing build ngs
IF their own. There are quite number,
Some of which are mentioned as not only
needing such but really looking for suitable