St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-02-21
ST. PAUL REAL ESTATE
Sales of Real Estate Continue to Increase
in Very Remarkable Manner
From Week to Week.
The Past Week Has Been the Most Re-
markable in Real Estate in the
History of St. Paul.
Almost a Million Dollars Worth OF
Real Estate Changed Hands and
the Season Hardly Begun.
So. Paul Moneyed Men Begin to Take
Hold of Real Estate--There Is
Money in 1t.

II.
ness transacted is very decidedly on the in
crease. All who know anything about the
CITY are aware that all through the winter
months the sales have far surpassed all ex-
pectations. During this period real estate
dealers have never before IN THIS
city been able TO sell much more than
enough to pay expenses. This winter
forms the remarkable exception that has
been noticed more than once in these col
umns, and that is that for the winter
months the sales have been remarkably
large, far surprising all that was ever be-
fore known in the history of the city of
ST. Paul; and now that the
spring months are approaching these sales
are rapidly increasing. Last week the
weekly sales aggregated nearly half mill
ion. Before that they ran along weekly
for several months at from 100000 TO
$3.50. 600. Week before last the amount
increased to S499. 900, and now that is
doubled. this weeks sales amounting to
$500. 595-within q fraction Of 81, 600, 600
of sales for the week. If the increase keeps
up at this rate the sales will be something
still more unprecedented when we get well
into the summer months. These sales it
may be remarked are bona fide transactions
In which money consideration passed
between the parties. 1t would not be diff
sult to enumeTate the reasons why this
IMMENSE INCREASE OF SALES
exists and continues. a number of causes
have combined to produce this result.
Never. in any previous year, was there so
much attention attracted to St Paul as
during the year that has just passed. and It
is probable that more money was in st.
Paul ready for investment IN real estate last
year than there ever was in any three years
, d.. oh, IL
selling, connected with the low rate of III
doubtedly done much TO lead East
eln capitalists to put their money
in here. The demand for st. Paul bonds
among Eastern capitalists has certainly
given the city very firm position in the
financial world. If the bonds, at such
low rate of interest, command such pre-
mium as they have at several sales, the nat
ural result is that people cannot fail TO
have confidence i'll the real estate of the
CITY, This has been shown again and
again, and never more clearly and distinctly
than during the last summer and winter.
AS before mentioned, an unusually large
amount of money came to st. Paul last
summer for investment, and much of it
remained during the winter and was
put into real estate. 1t is doubtful if the
entrance of the railroads into the city has
done so much to give confidence to invest
Ors as have the sales of our bonds. The in
fiuence of these sales has been supple
mented by the approach of several railroads,
more especially the Minnesota e. North
western and the Burlington IL Northern.
Each one of these roads came in on a diff
ferent line and each one
INFLUENCED THE VALUE
of property in different parts of the city.
The Minnesota q Northwestern affected in
a most striking manner all the property in
West st. Paul. and especially that part
lying near the river and east of
the bluff. The Burlington & Northern
coming up on the east side of the river, gave
increased value to farms all along the
road. Down below Dayton's bluff farms
that before were not worth more than $50
per acre brought from $500 to $500 per
acre. The influence Of the approach of
this road was also felt on the West side of
the city, and all the property west of Rice
street on a line with Hamline and the
Northern Pacific shops out beyond Smelling
avenue, was very decidedly enhanced in
value. 1t is difficult to give any
other reason for the activity in real
estate during the winter months that have
Just passed other than that which arises
future standing of the city. Here is the
secret of the whole of 1t. Thousands upon
thousands were attracted to st. Paul from
all points of the compass
TO SEE THE ICE PALACE.
But very few of them came here with
any intention of buying real estate. Some
who were struck with surprise at the mag
nitude of the city when they got here, are
known to have made investments, some of
them pretty large ones. and all went away
with enlarged ideas in regard
to st. Paul, which will undoubtedly
produce results in the future. But as a
general thing the ice palace visitors did not
come on business, but purely for pleasure
and amusement. The sales that were made
during the winter, as well as those that are
now Being made. were made to people who
have seen more of st. Paul than those who
came here for a week or so to see the winter
sports. The purchasers are those who have
studied the city and know where and when
TO invest. The truth of it is, our own citi-
zens at last seeing what others have done
in real estate have at last learned a lesson,
and having a good deal of money
unoccupied and outside of their bust
ness have stepped in and invested
very large amounts in real estate. There
are men in st. Paul who have been doing
business here for twenty years or more and
have accumulated large sums of money,
some of which has been laying idle. Some
portion of the idle capital has been invested
in real estate. These gentlemen in many
instances have drawn their checks for
many thousand dollars and handed them to
some real estate dealer with instructions to
invest the same to the best advantage for
them. 1t is known that one wholesale
dealer, not long ago, sent a real estate
dealer his check for$S6, 600 with instructions
to invest the same to the best advantage. In
less than four days the whole sum was put
neapolis. One of the best features of the
market is the fact that the business men of
st. Paul
HAVE TAKEN HOLD
of real estate in good earnest, and will
hereafter invest more heavily than they
ever have before. The argument is that
there is money to be made in real estate,
and that it is better that st. PauPs citizens
should make it than that outsiders should
take all the profits away from the city.
The jobbers of st. Paul are in easy circum-
stances, with good deal of surplus money
that they can proftably invest in real
estate. 1t is good security, and
the form of investment is in full
accord with the conservative views of the
jObbers themselves. The Wallace farm,
Immediately adjoining the Minnesota &
Northwestern road purchase, has been sold
by NJ. ID. Miller q Co. to parties for plat
ting. The deed has passed and improve
ments are to be commenced at once. This
firm also reports other important sales in
that vicinity, aggregating 500, OOO, the
particulars of which cannot at present be
made public. Wilgus Bros. have sold to
parties in st. Paul sixteen acres, for SO. 600.
twenty-SiX acres for $4,000. thirty acres