The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1886-09-12
AN IMPORTANT REAL ESTATE DEAL.
Judge Martindales Negotiations with the
State Fair Managers-New Buildings


An important real estate purchase occurred
during the week in which the one hundred acres
Immediately north of the State fair grounds
became the property of Judge Martindale. He
paid SS1.000 for the land, and the query as to
what he intends to do with it has been extensively
circulated. The judge bought it with the view
of important improvements, but the one now
being considered will perhaps set aside other en-
enterprises he had in view regarding it. It has
for some years been apparent that the State
fair officials would either have to forego racing
as leading feature of their annual show or
seek enlarged grounds. Year after year
the needs of exhibitors Of machinery
have required more and moro of
the space in the present grounds. This, with
other considerations has made it difficult so ac-
commodate the owners and at the same time
give sufficient attractions to the racing track.
Owners OF frst-class horses in many instances
have declined to bring their stables on account of
the half-me track, and the danger that was
liable to occur by the display OF so
much machinery near by. Negotiations
are now being made between Judge
Martindale and tho fair authorities to improve
his recent purchase by making on it q mile track
of excellent quality For this purpose the lay
of the ground is admirably suited, as it will af-
ford splendid view of every part of the course
from the pavilions that will be erected on the
south and west. AS the present levee is
insufficient to prevent an over
flow at high stage of Fall
creek, Mr.. Martindale proposes, in any event, to
raise the lever to a height above the highest
water. widen and make of it along the creek
around to Central avenue. handsome roadway.
IL will be lined with trees and will afford short
and pleasant drive from Meridian street to Cen
trail avenue If the State fair people do not
take the grounds they will move next year. pos
sby to the grounds owned by the State in the
eastern part of the city, but the contamination
of the Martindale improvement as detailed Is
probable.
During the week there has been q decided ad-
vance in the price of real estate and in the mum
her of transfers. Holders are looking for con-
tinuaton of the spirited market as there are
many inquiries and considerable money seeking
this class of investment. The sales for the past
week have been better than for some time, aud
the aggregate value $1O3 29I 81, larger than dur
ing any week for the past year.
There was also marked advance in the value
of building permits. These 90 not represent at
all times actual cost of buildings. as the own
ers fear the values of their improvements are re-
quired solely for the assessors use hence they
are inclined to underrate the amount they pro-
pose to expend in building Last year gentle
man took out a permit, and on the completion
of the work found it cost a couple of hundred
dollars less. He came anxiouslY to the City
Clerk to see if he could not have the record
changed The values used simply for
statistical purposes and never get into the hands
of the assessor unless he makes a particular re-
quest in individual cases. The total
value of the permits issued during
the last week is $30,955. OF this
200 Is for L. A. Boyds frame
dwelling on Broadway between Seventh and
Lincoln avenue, SO. 900 for the English Lutheran
Church, corner of Walnut and Pennsylvania;
s., 600 for brick business block Shelby
street, to be erected by the United States Nail
Company; 81. 600 for w. F. Fishers two-story
frame dwelling in Hall Place, between
Seventh and Eighth streets; $4,000 for
twostory frame on North Illinois
between Eleventh and Twelfth streets, to be
erected by Jennie G. Ruckle; 81 600 for an addi-
ton to G. F. Branham's house, No. 322 Home
avenue: $3,0 900 for a large shed covering his
coal yard on Ohio street. between Davidson and
Harvey streets. to be built by Mr. Branham: IS,
900 for brick business block the corner of
Meridian and McCarty streets: 81, 900 for brick
stable en- Virginia avenue, between Louisiana
and South Streets to be built by H. Siebert.