St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-10-31
ST. PAUL REAL ESTATE.
Prices For All Realty Still Continue Firm
and Steady, With Favorable
Prospects.
Property Advancing on Summit Avenue,
Having Been Held Too Low
Heretofore.
The Changes in West st. Paul Enough
10 Surprise the Oldest of Our
Citizens.
Dayton's Bluff Making Wonderful
Strides Miles of street Grading
Done This Year.
The Boom Continues.


real estate market in this city. Those who
are pleased are not, however, the buyers.
but the holders of property. The latter
have witnessed gradual, steady advance
all around, and day by day have seen their
holdings increase in value. These people
are constantly reminded of their good for
tune by offers that few months ago would
have looked large. On the other hand. peo-
pie who have money to invest and are look
ing around for something especially desir-
able are far from satisfied at the situation,
because they cannot secure what they want
at what they think are fair prices. In
other words, buyers are not quite ready and
willing to see and admit the changes in
prices, while holders are. and rejoice in
their good fortune. People who a few
months ago were Sagacicus enough to in
vest money in property cannot
be blamed if they seek to real
iZe the handsome advance which
has come from the general growth of the
city and its increasing business and pros
perity. There are many localities of this
kind in st. Paul, and several of them have
been developed or brought to the front
quite recently. and so sudden and q eat has
been the advance that it is not surprising
that buyers do not fully appreciate the
changed situation, or they do not desire to
recognize it. Holders are governed by
their interests the same as are the buyers
and are as ready to recognize an advance
as buyers are to see decline. There are
many properties just outside the best local
tiles which have not gone up so fast, and
these can be had at what would be generally
considered reasonable terms. This property
lies out a little further. but its remOteneSS
does not make any perceptible difference in
a city like ST. Paul, which is so well sup
piled with rapid transit. These cheaper
and more remote localities are now
sought for and in due time will be brought
into market. Many express their surprise
at the low price at which property is held
i'll St. Paul and slmilarly-located property
in other cities, and it has been found that
realty here in st. Paul is held much lower
than elsewhere. A very notable illuStra-
ton of the humble values placed upon real
estate in this city may be observed in the
recent sales of property on Summit avenue
as compared to prices that prevailed only a
short time ago. The increase in values on
this avenue has been very striking indeed
Every one knows that this noted thorough
| fare has for years been recognized as the
very few anticipated such a sudden and
marked advance as has taken place. Peo-
pie this year appear to appreciate more
| than ever before the magnificent
possibilities of this beautiful street
| 1t is peculiarly located extending for a
long distance along the brow of the high
bluffs. which furnishes residence localities
with remarkably attractive scenery. Its
very locality on the borders of the elevated
part of the city give it an exclusiveness and
an air of retirement so much relied upon by
wealth, that could not be found in any
other part of the city. Very great and
marked attention has been directed
to this Qavenue during the present
year and large and numerous transactions
have taken place there and very marked
advances have been made.
Numerous instances could be cited to
show how prices have doubled up on this
avenue within a very short time. This
large
| INCREASE IN THE VALUE
of property in the locality is not much diff
| ferent from the increase in other parts of
the city. OF course, all who pay any at
| tenUiOn to transactions in real estate know
well enough that at no time in the history
OF ST. Paul and in no part of the city has
there been such sudden. large and marked
advances as there have been in West St.
| Paul and along the fats down the river to
what has come to be known as South st.
| Paul. 1t is one of the most remarkable
facts in the history of the city and has often
been alluded to. At first by many, the
| cha lge being marked. was regarded as a
boom of unusually large proportions. but
the fact that vast improvements are going
| in there, involving an outlay of many mill
| ions of money, and the further
fact that prices are steadily adyanc-
| ing robs the locality of all its
| boom features and reduces it to the hard
| facts which. briefly told, are that the local
| ity known as South st. Paul is becoming a
point of great Importance and that the rea-
| sonabIe indications are that. in the very
near future, it Will be point where very
| important manufactures will be located,
and where large amounts of money will be
dsburSed. The whole of the Sixth ward
feels the influence and effect of the invest
ments in South st. Paul. and within a very
short time this ward has increased in pOpu-
lation from five hundred to from fifteen
to twenty thousand. Its thoroughfares,
that a few years ago consisted in most in-
stances of narrow, ungraded roadways,
|
ner of breaking devices, have
been filled up and graded, sewers
| have been constructed, many eleva-
lions have been leveled and ravines have
been filled up SO that the rugged surface OF
the earth in that ward which presented
such serious obstacles to public improve
ments has, in many localities. been mostly
overcome or. at least so modified that the
difficulty in the way of introducing public
improvements has been greatly lessened.
There are many who do not hesitate to say
that the Sixth ward will be the great manu-
featuring center of the state. and that the
south side of the river will sooner or latel
come very near to equalng the north side
! in business and population. This is very
sanguine view of the case, but there are
good reasons for believing that the Sixth
ward is to become very important part Oi
the city. If the manufactures are located
in South St. Paul that are
promised, and there seems tc
be no reason why they Should moi
be. population in that ward will be rapidly
and very largely increased. Other manu-
factories will go in then. 1t will be con-
venient to ship by river or by rail, while
residence property all around there will be
abundant and very cheap compared to SIM
| liar property on the north side OF the river.
In addition to these considerations there is
a magnificent river frontage, capable of &C
commodating world of traffic. The growth
of this ward within the last year or two has
been so marked that it has stretched beyond
the most sanguine expectations, and set al
defiance all calculations. What it will dc
in the future is a problem. Men buy and
sell there upon expectations that in some
instances seem almost preposterous. There
is another part of town that has heretofore
been very much neglected. and that is Day
tons bluff This section has widened anC
| broadened out and filled up with pOpula-
lation in a manner that will surprise those
who have not visited the bluff pretty fire.
ouentlv. 1t will surprise most people tc
90 over upon that bluff and see what ha:
been accomplished three or four miles eas
of Bridge square. Acres and acres Of
property that two years,ago were covered
with wood and brush, wholly without
streets and apparently wilderness. have
been subdued to civilization. Through these
former tracklesS wastes well graded
streets have been constructed, anC
along the same sewers have been bull