St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-05-16
ST. PAUL REAL ESTATE.
The Demand for Real Estate Continues to
Improve Greatly in st.
Paul
Heretofore the Demand Has Been Largely
For Outside Property, But is
Changed Now.
inquiry Now is Largely In Favor of
Inside Property Suitable For
Business.
Sales Average About Half Million
aWeek--Change of the Bust
ness District.
ST. PAUL REAL ESTATE.
The Market Firmer.


Judging from the transfers recorded and
the considerations paid for them, the past
week was one of the lightest of the season.
Real estate men say there is no DENYING the
fact that the labor troubles have interfered
good deal with the real estate market an d
very seriously retarded sales. The early
spring months gave indications of season
in real estate such as had never before been
witnessed in st. Paul. The sales have been
very large, much larger and more steady
than they ever were before. The probabiIi-
ties now are that business will revive, and
as the season is still early it is likely that
when it is over all will be fully satisfied with
the business of the year, for not
withstanding all the doubt and uncertainty
that has been hanging over all departments
OF business in consequence of the labor
troubles, sales OF real estate have kept up
pretty we'll. They were not quite what
was expected, it is true, but while this is
so, it must be borne i'll mind that the sales
have been great deal more than ever be-
fore was experienced. The weekly sales
during the winter were enormous. st.
Paul never before saw anything that APP
preached it. While transactions have been
such as at all times to snow strong,
healthy market, averaging about $500, 900
per week, and sometimes running up to
5000, 600 or $500, 600 per week, the amount
of sales have not been sufficient to quite
satisfy some who expected more. When
one stops to consider this matter he will
find it much larger than he expects to. The
sale of $500, 900 worth of real estate in each
week means for the whole year the change
of hands of S26, 900, 900. The real estate
transactions in st. Paul for the present
year, if they keep up for the balance of the
year in the same proportion. will fully
REACH THREE FIGURES.
This is remarkable showing, especially
if we take into consideration all the circum-
stances calculated to affect the sale of real
estate. 1t indicates the confidence that the
people of this city have in its future growth,
and as very large amount of money has
come to st. Paul from abroad for invest
ment in this way, it also Indicates that peo-
pie outside of the state have equally as
much confidence in the solidity and future
promise of st. Paul as the people of the
city themselves. The seasons work is such
as to show that in spite of adverse combi-
nations there are good reasons for believing
that real estate investments in st. Paul are
among the very best and most secure that can
be made. Advances are steady and certain
During the last week or two there has been
marked Improvement in the real estate
market. Prices are steadier and firmer,
there is more demand, and people seem to
be more free to put their money into this
kind of Investment. One of the principal
things noted this week about the market is
the fact that buyers have been changing from
outside to inside property. For some time
the call has been for outside acres, and con-
SeQuently inside business property has laid
dormant. 1t is now receiving more atten-
ton, and all the way from Broad
way to Wabasha street there is
springing up demand for business
property, and many sales are
being made at good prices. 1t looks as
though the character of large part of
lower town would be wholly changed from
residence to business property within few
years. Years ago the late Col. Hewitt de-
clared that the whole basin under the hills
on the north, from the bluffs at Trout
brook to Wabasha street and the table
land between that street and the bluffs on
the west, would be required for business
! purposes. It looks as if the words OF that
close observer would become true, even
sooner than he expected. The expression
was laughed at at the time and was re-
| garded as most ridiculous and extravagant
statement. The encroachment in this mat
| ter commenced with the filling in OF
that immense swamp between Dayton's
| Bluff, Sibley street and the river which is
now devoted to the railroads. 1t then ex-
tended up to Fourth street, where John
Wann stuck the first shovel into the old
Burbank hill, " and eXcavated for his store
on the northeast corner of Fourth and Sib-
| ley streets. That hill extended nearly UP
| TO Seventh street and pOvnrnd good nor
| ton of that tract bounded by Fourth, Sew
enth, Broadway and Jackson, and was
| higher than any Of the sx-story buildings
| that have been located on the site of the
| hill.
BUSINESS HOUSES HAVE
| been gradually erected away out on Missis,
ci, nd oil no ntb CTR 10 h.