St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-06-27

ST. PAUL REAL ESTATE.
ST. PAUL REAL ESTATE
A Decrease in Recorded Transfers That
Indicates Little as to the Real
Amount of Business.
Large Numbers Of Sales Kept From the
Public Gaze for Various
Reasons. ~
Increased Demand for Business Prop
erty and a Falling OFF in Acre
Tracts.
Tho Record OF the Week In Realty
Trading and the Building
Business.
Trade i'm Realty.

AASaO1uS ana the
Business.
Trade i'm Realty.
The recorded transactions during the past
week indicates falling off in the number
ana amount when compared with the i'm
medlately preceding weeks. 1t is we'll
known fact that a considerable number of
transactions have been withheld from pub
LEGATION each week all through the season.
For some special reason that is not made
public this disposition to reserve from the
public eye considerable portion of the real
estate transactions was good deal intensi-
he'd all the past week, so that a much
larger proportion of the sales were with
held than usual. One dealer in realty yes
terday. in the presence of GLOBE man,
declared that the day before he had COM
pleted transactions to the amount of $50, 900
that would not go before the public. AS it
Is with this dealer, so 1t is with all of them,
1t is quite probable that if all the sales
made should be recorded and published.
those Of the past week would make the
same showing as the average Of the weeks.
There is no question but that the sales dur
ing this week have been somewhat more
limited, still the falling off is not fairly in
dicated by the figures. The call for prop
erty seems to be about the same as it was
the week before. During last fall
and winter, and even up to and
including February and March, the
demand was for acre lots and odd pieces of
unimproved outside property that could be
brought into the market after being plated
and laid out into lots. This kind of prop
erty was sought for in modified degree
even later. This is now changed and the
demand now Is more largely for
BUSINESS AND RESIDENCE PROPERTY.
This class OF realty is held good deal
higher now than ever before. especially
business property, and much of it is held
by those who can afford to hold it for even
better prices than those now offered. 1t is
an admitted fact that real estate in St. Paul
is not held high when compared with prices
asked for similarly situated property in other
cities, and those who hold desirable bust
ness and residence property are beginning
to see this more distinctly and clearly. It
is natural, therefore, that they should be
inclined to retain what they have rather
than to dispose OF it. The business area,
that is, that part of the city which, In the
natural course Of events, will be the sub
stantial business part Of st. Paul, and
which lies between the bluffs and the river,
is being rapidly appropriated for business
purposes, and each year sees marked en-
croachments by business over territory pre-
viously devoted to residence property. I'm
der such circumstances it is very natural
that people who possess desirable bus
mess locations should deem it Judi
cious to wait. There are many such,
and this is one reason why values
have increased so much during the last year
or two for this class of property. One needs
| to go but a short distance out Seventh street
in either direction, out Rice, Mississippi
and other similar streets, to see how rapidly
and generally two and three-story brick
business blocks are going up. These struct-
ureS are not
ERECTED FOR ORNAMENT,
nor out Of mere freak of humor. but be-
cause the people who have located out
there have created the necessity for such
structures, In short, the business is there.
This kind of encroachment will surprise
anyone who takes a drive around and
through what year or two ago would be
regarded as the outskirts of the
city. At almost any point two Or three
miles from Bridge square will be found
just such business centers as are above re-
ferred to. All these go to increase the
value of what may be called the inside
business property. In this particular it is
probable that Dayton's bluff, West st.
Paul and the Midway district exceed all
|. other parts of the city. Each of these
hree points in st. Paul constitutes a town
by itself of $4,000 or $4,000 inhabitants,
and each has the business Of such town.
Dakota avenue, in West St Paul, is sur
prise to everybody. A short time ago it
was questionable lane. with few little
shanties on one side. Now it is
lined with brick buildings three
stories high almost from the bridge to
the bluff, and some distance around, up
under the bluff. an excavation Is being
made for another block of stores. AS one
goes still further along up the bluff, he will
come to large settlement where both sides
of the avenue has been lined with stores,
and where an active and extensive business
is transacted. Between the bridge and the
|. foot of the bluff over $780, 900 worth of
new buildings are being erected. Not
more than half dozen thoroughfares in st.
Paul have done as much in building as has
Dakota avenue. 1t is surprise to all who
see it, This air of business has extended
all over Dayton's bluff. Out
NEAR POST SIDING,
there is quite an extensive business center,
another town within a town, where there
are churches, school houses stores, livery
stables. saloons and everything pertaining
to an independent community. Over on
the other side of the bluff, towards the
river, there are similar evidences of growth
Scattered all over that section of the town,
and all through Terry's addition. back of
z. II. Kelly's and Commodore Davidson's
former residence, for miles around the same
evidences of a business tenden-y APPEAR
Out i'll the Midway district, around to Como,
all along Como avenue to Rice street, it is
the same. In whatever direction one goes
he will find the same indications of business
thrift and prosperity. These trading points
in different parts of the city are not men,
toned to indicate any unusual and sudden
development of this city or of any of its
parts, but simply to illustrate how business
is crowdlng into the center, and at the
same time to show that it is overlooking to
heoutskirts and filling up everywhere.
All dealers in real estate regard the season
as an unusually healthy one and are per-
fectly satisfied with the steadiness of the
market.
Mp