St. Paul daily globe., 1888-05-06


A steady downpour of rain for most of
the past week has prevented many new
transactions in real estate, but the mar
ket, in spite of this, presents many en-
couraging features. A number of gen
tlemen are seeking investments in busi-
ness property centrally located, with a
view to immediate improvement. Some
of these negotiations are likely to termi-
nate during the present month, and
others in time for Improvements to be
made during the present year. A COOL
many of the laboring classes and wage
earners of the city are preparing to pur-
chase small lots on which to build them
selves homes, and the scheme of selling
cheap lots on monthly payments rum
ming either five or six years, is one that
is going to be extremely popular with this
class. Several sales of this kind have
already been negotiated the present
year, and very many thoughtful men are
turning their attention to securing
homes while property can be obtained
at reasonable prices.
The vote recently taken on the sub
ject of issuing bonds for another bridge
across the Mississippi river, from Broad
way to State street. proved larger than
was expected. The proposition was
carried by a very decided majority. 1t
is argued that the enhanced value of
property Oh both sides of the river, in
consequence of the bridge being built,
will more than provide for, the small in
tereSt on the bonds necessary to build
the bridge. Those who are we'll i'll
formed claim that the structure can be
completed at an expense not to exceed
S250,000, and some gentlemen are so
enthusiastic as to say that if it is neceS-
sary to do so. the additional $4,000 could
be raised by subscription among men
whose property would be benefited by
the Improvement.
The result of the vote has had the
effect of causing a marked advance in
the prices of all property on Broadway
and Mississippi streets, and on State
and adjacent streets on the West side.
One gentleman, who, for the last few
months has been trying to sell property
on Broadway, below Seventh street. for
S400 per front foot, withdrew it from
the market the moment he ascertained
the result of the vote on the bridge ques-
ton, and will not sell now for less than
$500 per front foot.
-
There are a great many men who
readily declare themselves in favor of a
bridg at that point, but claim that they
do not want it Just at this time. It is
too soon. they say. Business does not
require it, and will not for several
years Other men, who say the city is
growing more rapidly than many think
for, claim that in public matters like
these there is no sense in stopping and
waiting for the future to develop. They
claim that we are building a city here
ml i,nt l,no
to 10 is to build at once and keep on
building, instead Of postponing.
The large force of men employed in
grading the streets in various directions
shows t hat the public improvementsar
to be pushed with unusual vigOr d uring
the present season. Consequently prop
erty III the vicinity OF these new lines
OF traffic stretching into the suburbs is
daily becoming more and more desira-
BILE. The result is increased activity in
almost every direction. The season
thus far has been quiet because OF the
unusual character of the weather; but
it is predicted that during the present
month the transfers will show a consid-
cradle Increase in number and value,
and that by the 1st Of June there will be
very active market. Every sign indi-
Gates healthy and busy season in real
estate.
1t is reported that a syndicate has
been formed for the purpose of securing
a considerable vacant property on Sev-
enth street, with view of improving
the same. This th0roughfare is the
longest, best lighted and most active
business street i'll st. Paul. And what is
still more gratifying, the business on it
is steadily increasing. The increase
that comes as the seasons roll on comes
in such marked manner that it cannot
be mistaken. The opening of the
Plymouth clothing house, on the north
east corner of Seventh and Robert
streets, and the opening of the six or
seven Sto eS in the new Ryan block on
Seventh street this spring. has added
much to the business and the appear
ance of general activity that is always,
in the daytime, to be observed on this
great street. The erection of several
blocks on upper Seventh street
around the Seven corners, and out
on West Seventh street also, serves
to emphasize the assertion that this
great artery of business is receiving an
infusion of new blood. 1t will be diff
ficult to point out a handsomer block in
any city than the block Oh the south
side of Seventh extending from Robert
to Jackson street. So anxious were the
tenants to get possession and commence
business in the block that they actually
moved in before the workmen got out,
and the placing of the shelves of fine
goods went right along with the music
of the hammer and the saw in the same
room. 1t is unquestionably the busi-
ness thOroughfare of st. Paul. There
are no vacant stores on that street.
-
The effect of the vote on the Broad
way bridge proposition has served to
advance property very much indeed in
West st. Paul. All along down in the
vicinity where the bridge will be located
the value of real estate has been ad-
vanced 100 per cent. 1t is claimed that
the Broadway bridge will help West st.
Paul much more than the Robert street
bridge did.
Real Estate Notes.
The contract for building the distillery
at South st. Paul has been let to John
Angus, the contractor that is now en-
gagged in erecting the Auditorium build
ing at Chicago. He will go to work