St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-28
ST. PAUL REAL ESTATE.
The Market Steady, With Sales That
Amount to Six Hundred Thousand
in Five Days,
Real Estate Investments Good in All Parts
Of the Oity--Great Activity in
Acre Lots.
Real Estate UP at Midway Since Com
modore Ktttson Took That
Driving Park.
Not Great Deal of Movement of In
side Property business Blocks
Going Up.

Though there are a number Of large deals
in real estate under consideration, none
have been cOnsummated and made public
during the past week. In a general way it
may be stated that the market has main
aimed the same activity that has character
iZed it for several weeks, and that the in
quiry is mostly for acre property. The in
qury for this property has stretched out
INTO Dakota and Washington counties as
well as all along between the two cities.
This desire for this class Of property is
another manifestation Of the confidence in
the growth OF st. Paul. Ii was but a few
years ogo that no one wished To buy acres
in the vicinity of Midway and Hamline.
They were virtually unstable at any price.
The acres that composed the old fair
grounds lay in the market for years without
Il purchaser, and the parties who bought ii
fOr track purposes did HOt know what 20 do
with il. IL had been mOrtgaged and they
got tired Of paying taxes upon II. They
were sick Of those acres. They were an
elephant on the hands OF their owners, and
il may also be mentioned that the gentle
men who owned the property referred to,
and who wanted 50 badly TO get rid or it,
were few Of tine sharpest and best bust
ness men III town. These businesa men
were greatly troubled with this property.
ana business meetings were held over ana
over again 10 see what could be done with
this White elephant that was
DISTURBING THEIR SLUNIBERS.
They wanted to get rid of it, and nobody
wanted ii. Fortunately for these mort
gagOrS Commodore KittSon was thought OF,
and though he had no special use Tor the
property, more out Of an accommodating
spirit than anything else, he took it of
their hands at something like So. coo or
$50, 600. There was nearly a hundred
acres Of it in all. This property could not
be bought to-day, probably, independent OF
the buildings the commodore has put upon
it, Tor less than $3.50 600. This was but a
lew years ago. Since then, what changes
have occurred. Those acres between the
TWO cities have been nearly all picked up by
syndcateS or individual parties who see
large money in them, and now they cannot
De had Tor less than -, 600 per acre, ami
from that upward. When one goes 10 the
map OF Ramsey county and the counties
around, ne will readily see BY the names
upon the maps that a very large part Of the
desirable acres have been picked up largely
by the mOneyed men Of ST. Paul. OF
course, the map Of Ramsey county is the
most noticeable in this respect. This dis
position TO acquire acre property is now
more largely extending into Dakota and
Washington counties, so that now the most
desirable property of this kind j. being
eagerly sought for by men of money. The
extension of the limits OF st. Paul in all
directions has had great deal of influence
in producing this result. IL is very natural
that city Of
THE SUBSTANTIAL WEALTH,
business capacity and energy of st. Paul
SlOul0 exert a DofpuT intiuepaa in tbiS 70
spect Inside property has not begun to
move much yet and holders manifest no dis
position TO offer their property for sale so
that 1t is only here and there that this de-
Scrption of property can be found for sale
1t is noticeable also that more disposition is
manifested To improve inside property now
than ever before. Mr.. Langevin furnishes
a noticeable example of this. He has
always had way of his own of improving
city property by placing temporary frame
buildings upon whatever he bought so that
he could at once obtain an income from the
investment. This displayed more business
than public spirit. Mr.. Langevin now rec
OgniZes the fact that the time has come
when it is desirable to change his policy.
He has had plans drawn for a block that
will probably be one of the handSomest in
the city. This block will be located ON the
southeast corner of Sixth and Robert streets.
1t is to be built of pressed brick and hand
SOmely Ornamented with stone trimmings
1t will be Of the ROmaneSque order of arch
ltecture and either seven OF eight stories.
This furnishes fair illustration of the dis
position to improve inside property, and
that too with ornamental structures. Judge
Hale is also putting in a foundation on
lower Seventh street for quite a large block
OF stores. 1t Is understood that the old
brick hotel on the southwest corner of Sew
enth and Robert streets is to be practically
torn down and that new and elegant
structure VIII be substituted of
HIGHLY ORNAMENTAL CHARACTER.
suitable for such an important and promin-
ent corner, especially so near the Ryan. Ii
is also well known that all the space from
this block, on the corner of Seventh and
Robert streets to Sixth, is to be built up
this summer, which, with the big block of
stores to be erected on Seventh street near
the Ryan, will make the whole space
around that hotel pretty active place dur
ing the summer. \ gentleman in st. Paul
has the refusal of the Gillian lot on the
southwest corner of Seventh and Cedar
streets for thirty days. IL is altogether
probable that he will take il at the price
named. and if he does he will erect thereon
handsome block. The locations that seem
TO be the most favOrably thought of i'm
which to secure property are in the Midway
district, West st. Paul and in the vicinity
of Phalen's lake. AT each of these points
there has been great activity. OF course.
the fiTSt-named point has for a long time
been the favored spot, and everybody that
put their money i'll that locality has taken
it out with large profits. The same NAV be
said of West st. Paul, but while the prop
erty in the Sixth ward advanced the adj
vance was owing to the approach of the
Minnesota IL Northwestern railroad. which
caused very sudden increase in values
The Midway district advanced slowly and
gradually and in natural way and smply
because ii had to. 1t was healthy and
PERMANENT INCREASE.
The transactions in the vicinity of Lake
Phalen have been large and somewhat nu-
merOus, and wholly in acres. All the prop
erty out through that region is looked upon
with great favor by the dealers, for the rea-
son, principally, that it is believed that ali
the Eastern lines of road viii come in
through that direction OF vicinity, and also
because it is believed that great many
manufactures will be established there.
Yet. independent of the approach of the
railroads and the manufactures, all that re-
gion IS regarded wish great favor. 1t is a
nice, rolling country, and the the theory is
that the town must grow towad the east,
where land is cheaper. A good deal of in
quiry is being made for property in the
north part of the city, in the vicinity of
Rice street, and also along across the city
- Mississippi street. and it is not too much
TO say that some of the best property in ST.
Paul can be found in the direction Indicated.
The boom in Reserve town does not seem
TO have remained long. Taking all things
together. the real estate market is IN a very