St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-04-04
ST. PAUL REAL ESTATE
The Sale of Real Estate Rapidly Increas-
ing as the Spring Season
Advances.
One Hundred and Twenty-six Thousand
Dollars Paid for the Well-Known
Drake Property,
Which VIII Be Plated and Put on
the Market for Residence
Property.
Syndtcates Buying Property I'm the
North OF Town, Near j. j. HIPS
Big Stock Farm.
The Review.

The Review.
During the past week, if two or three
large syndicate transactions be excepted,
there has been nothing special to note in
the real estate market. Business Is gradu-
ally increasing and sales are larger in vol
ume as the season advances, as will be seen
by comparison of the weekly reports.
Outside property continues to be looked for
with good deal of industry and confidence
and large quantities have been sold since
the last report. The attention of buyers
has been turned during the week to acre
property some distance north of tine city,
from seven tn nine miles out, in the vicinity
OF Pleasant lake and Lake Johanna. Sales,
in that locality, have been numerous. This
Is IN the vicinity of j. j. Hills stock farm,
and 1t Is said that one great advantage
relied upon by purchasers is the fact that
1t Is believed that sooner or later Mr.. Hill,
who already has large interests out in that
direction, that are daily increasing in i'm
portance and value, will have motor line
running out to his property. Whatever
may be the cause OF the purchasers striking
out In that direction, il is certain that large
sales have been made out there, and that it
Is probable other similar sales will follow.
1t has been heretofore remarked in these
columns that the north part of town has
always been neglected more than any other,
Dayton's bluff. st. Anthony hill, West st.
Paul, every other part of the city has grown
while the north part of the city has re-
NAMED without much change. Sooner or
later there must be a change in this respect,
and the north part of town should begin to
command the attention it deserves, This
may be the commencement of the
up-building of this neglected part of the
city. 1t is possible that some of the far
seeing business men who form the syndi-
Gates that have been buying these large
tracts have reached the conclusion that the
time has already come for this improvement
to begin, and that it is time to strike in and
pick up some good tracts. Certain it is
that number of large pieces have been
sold within the past week and that, too, TO
some OF the sharpest business men.
ANOTHER LARGE SALE.
While a good deal of attention has been
paid to the north side of the city, the Mid
way district has not been forgotten. Sales
IN that locality have been numerous, the
largest being what is known as the
Drake tract very handsome
piece of property of sixty-one
Hamline university, bounded on the north
avenue, east by Archer avenue and west by
Smelling avenue. The south boundary is
not precisely on University avenue mas
much as G. A. DeGraff has small piece
lying south of the Drake tract and north of
University avenue. The price paid was
S126, 900, The syndicate that purchased
this Is probably the most powerful and in
huential one ever formed in st. Paul. The
intention is to plat it at once, and place it
on the market. 1t is as level, almost, as it
could have been made, had it been arti-
hcally laid out. 1t is close to Hamline
where it will furnish all the school faciIi-
ties and church accommodations that can
De required. 1t Is the intention to have
street cars or motor line run from Macal-
ester College station, on the short line,
across either by Smelling or Archer avenues
to the station on the Manitoba road, and
then on to the station on the Northern Pa
cific. In this way everybody, all through
that section, can be accommodated. and peo-
pie can come and go as easily and as freely
as they can in any other part Of the city.
These suburban residences are fast growing
into public favor. They are suburban now.
but they will not long remain so. AS the
city continues to stretch out, all these loca-
tons that are now termed suburban will
become an immediate part of the city.
ST. CLAIR STREET AND VICINITY.
There is unusual activity in the vicinity
Of st. Clair street where the short line
crosses 1t, and where it is supposed a depot
will sooner or later be located. The pro-
posed opening of Lexington avenue from
the north to the south city limits this season
will open up new region of very hand
some residence property. The bluff lying
M mt I.aw-
southerly to leave the foot of the bluff and
run toward West Seventh street is as hand
some residence plateau as is the south
side of Summit avenue and the views from
some parts Of it are even finer. Should the
new motor line skirt along the foot of this
bluff as now seems certain. giving quick
transportation, it will result in q rapid and
wonderful development of the handsome
tracts OF land lying south of st. Clair
street and east of Lexington avenue. A
member of the board Of public works, who
Is familiar with the whole city. gives it as
his opinion that this new region that will
thus be opened up in few months, will
contain the choicest residence property in
the city. 1t will have such facilities as the
street cars, the motor line and the Chicago.
Milwaukee IL st. Paul railroad. The dis
appearance of frost and snow will witness
marked activity in all directions, but this
Will be especially noticeable in the western
part Of the city and in Reserve township.
A great deal OF land has changed hands in
Reserve town during the winter, and con-
siderable plating will be done in the spring.
Acres that sold for $500 in November, sold
for $3.50 in December, $3.50 in January,
5000 and S700 in February and
March. A good deal of land
that was held at $500, and 81, 900 per acre
Is now held at from $1,000 to $1,000 per
acre, and the high prices that have obtained
about the Transfer, Union and Merriam
Parks have driven speculation down south
OF the railway into Reserve town. This
lies little out of the commercial or bust
ness track and will soon prove the hand
soonest residence plateau in the near vicin-
ity of both cities. 1t only needs an actual
motor line in operation to make it the park
region OF the two great cities.
The Record.