St. Paul daily globe., 1888-07-08
REAL ESTATE GOSSIP.

1t is admitted by every one that the
season of 1888 outranks any previous
season since Minneapolis threw off her
swaddling clothes, in the number of
large and costly business houses and
residences erected. This fact justifies
the unbounded faith that capitalists
have i'll the future growth of the
city, and the new directories furnish
lndisputable evidence of that growth.
The large number of Office buildings,
containing from SO to $50 rooms each,
were thought two years ago to be suf-
flclent In number to satisfy all demands
for all time, but each year witnesses
the erection of many others, which are
occupied Immediately upon completion,
and no doubt but what if Burlington
should build his twenty-eight-story
building he would find eager tenants to
fill every room to the skylight.
~
There is, however, IA scarcity of first
class wholesale blocks, although the
their readinisS to erect them whenever
a direct demand is made for such.
M
On the other hand a large firm con-
templating change of base, can hardly
afford to wait one or two years to have
proper building erected.
*.*
st Paul capitalists foreseeing that
point took steps two or three years ago
to obviate that difficulty, and they have
succeeded in having them rented ffe-
quentIy before completion, and eonse-
quently has captured houses with in
clinations tending toward this city at
first.
The question has been frequently
asked by visitors why NicOllet avenne
is better retail street than Hennepin.
The reason is that on Nicollet, from
Third street out, the property owners
have always worked in harmony to-
gether toward diverting traffic their way
by erecting business blocks suitable to
the demands of the trade.
~ ~
1t was this unaninmity that caused
the erection of the Syndicate, the Sidle,
the Eastman, the Donaldson, the Ken
yon, the Bank of Minneapolis and
various other substantial blocks, all re-
plete with modern conveniences.
~
1t was some time before the owners of
property on Hennepin avenue caught on
to the scheme, but when they did they
didn't let the grass grow before forming
bond of union of self-protectiOn, which
was demonstrated in the building of the
Temple court, the Boston block, the
KasOta block, the West hotel, the Ma
sonic temple and the Public Library
building.
While the rivalry of these two busy
thOrOughfareS was progressing, the
landed prOprietOrs along Third, Fourth,
Fifth and Sixth streets took the cue,
and as result we see the new post
office, the Harmon, johnson, Janney,
Cullom, Stillman and GLOBE blocks on
Fourth, and the Peterson block and
others ON Sixth.
The erection of these grand structures
have enhanced the value of real estate
in their Immediate vicinity many fold.
*x*
Fourth avenue south has laid the
foundation for a good start in the
erection of the corn exchange and
chamber of commerce buildings, while
only one block above them will be the
new court house and city hall, costing
over S1,000,000.
The lakes are attracting the attention
of so many of our most prominent real
estate dealers that dealings in dirt have
been rather quiet the past few weeks.
oars waiting until the tide rolls in
toward fall, as it surely will, when
prices will go whooping.
1t is the candid opinion of everybody
that now is the time to ''catch On'' for
bargains, and reap big interest in the
near future.