The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-03-18
THE REALTY MARKET.
Spring Weather Causes Renewed Activity in
the Business-Ths Weeks Sales.


As the weather becomes milder she real estate
market Is beginning to show a renewed activity.
The aggregate amount of business done so far
this year is beyond what anticipated by the
most sanguine dealers The market of the first
ten weeks of 1887 was thought to be unusually
good. but tho sales of the corresponding time of
this year almost double those of 1886. and
the market is much stronger and presents a bet
ter outlook for the future. Until the last
week there has not been great deal of
inquiry for property from outside capitalists but
during the last six days all the dealers of 1ndi-
anaDolis have been answering many letters from
men ia other Cities who are intending to invest
money here. Quite a number of gentlemen
from Pittsburg and Cincinnati were in the city
in person during the week looking out for
valuable investments. and the dealers with
whom they are operating think there is no
annapolis property. Dealers still explain that
the market is not as brisk as 1t
would be If owners would show more OF
disposition TO sell A great majority of those
who have desirable property for sale prefer
wait until natural gas has been distributed all
over the city, as they believe it will enhance
values materially So valuable Is Droperty
becoming that when owner is offered the
price be has been asking The chances are that he
will not ACCEPT the prefer. An agent relates
that last week he lost several sales because the
instructed him to ask for their property. LAS
an evidence of how valuations have gone up.
structed me to sell lot On North Meridian
street for So. 500. A buyer couldn't be found.
but the other day met man who wanted such
q lot and sent him to the citizen. Three
thousand Ave hundred dollars asked for the
lot. Three thousand four hundred dollars was
offered. but the owner refused to accept that
amount. Afterward the purchaser went back
and offered So 800 for the property, and then the
owner raised his price to 81 000
Improved downtown property is becoming
more and more in demand, and during the last
week quite a nunl5er of important sales were
made. As yet there seems to be disposition
10 initiate prices on property centrally located,
and for this reason dealers think the market is
turning to that kind of property. The sales
during the week numbered 105 and the valua-
ton reached $l28, SO.
Newton Claypool purchased of VIM. Wllkin-
son the lot fronting ninety five feet Pearl
street, in the rear of the Adams express Office,
for $15. 000 He will at once begin the erection
OF four-story block covering the entire lot, and
connecting with the Meridian -street block. the
brick business block on Georgia street between
Illinois and Meridian streets. occupied by
Perry & Co.. Wholesale grocers. was sold
yesterday to Mr.. L. S. Ayres for $4,000 The
property is very valuable. and business men re-
gard the price as remarkably low. Among the
other sales of more than ordinary importance
was that of the dwellings at Nos. l18, 106 and
lS4 North Tennessee street. and the business
property at Nos. 80. 81 and 60 Indiana avenue
to G. L. Warner for $4,000.
ven whee-works, sold RAPIDLY ali week. The
demand for building sites in that locality has De-
come so great that hundred more lots are to
be plated at once. Lots in Haughyille are also
finding ready sale. and great many we're dis
posed of during the week. new addition.
known as Crawford & Taylor's addition, has
been plated into twenty six lots. and are now
on the market at 5000 each.
The building boom appears TO have come to
stay. The majority OF the permits issued are
for dwelling houses about the suburbs but quite
a number have been issued for elegant business
blocks The indications that within the
next three months many of the unsehtly
buildings in the central part of the city will be
replaced by blocks of modern style. Several
now under course of construction. The
brick work has begun on the mammoth Mansur
block at the corner of Alabama
and Washington streets. and workmen
will this week begin tearing away
an old story block at the northwest corner
to make room for an elegant three-story brick
business block, Henry knippenberg having
made arrangements to that effect prior 10 his
recent return to Montana. The block will be
sixty by one hundred feet in dimensions. 1t is
also reported that a new business block will be
erected at the corner of Pennsylvania street and
Massachusetts avenue during the early spring.
During the week thirty permits were granted.
calling for expenditure of nearly $50, 600.
Among the more important are the following:
Mrs. W. FL. Linden. frame cottage Water
street, near Gimble, $1,000; Il. Mrnsell, fra ne
cottage on Peru avenue, near Massachusetts
avenue. $1,000; Clarence E. Vancouver. frame
cottage on Huron street, near Cedar, 81, 225: II.
S. Milligan, fraufe store-rooms southwest
corner New Jersey street and Massachu-
setts avenue. 81, 200: H. G Long, frame residence
at No. 397 North New Jersey street. 81. 800;
Augusta Rocasco. frame dwelling and store-room
at No. $50 South New Jersey street. 81. 783;
Charles NJ Gorsuch. frame dwelling on Ash
street, near Lincoln avenue, So, 600; John LASER,
frame residence on McCarty street, near Dillon,
81 900; D. NJ. Hise. frame cottage on Prospect
street, near Olive. $1,000; Joe Connolly, frame
dwelling MeCarty street, near Virginia
avenue. 1900; r. S. Mckee. brick block the
southwest corner of Meridian and Georgia
streets. $50 000 A. NJ DeSonchee, three frame
COTTAGES ON Clifford arennA 81 LOO