St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-29
ST.PAUL REAL ESTATE
The Weeks Business Was a
Decided Improvement on
Previous Ones.
Aside From the Davidson
Sale the Market Has
Been Active.
Mr. Endieott Proposes to I'M
prove Nearly All That
He Bought.
Southern Excursionists Com
Southern Excursionists Com
ing Here--Buslness Prop
erty in Good Demand.

minds, there mas Deen avery percepIlule
Improvement in the real estate market.
Inquiry has been better and sales more
frequent. A good many Eastern people
have been in the market looking for
good business property, and quite a
number of transfers are on the verge OF
consummation. The attention of many
of these gentlemen has been directed to
Broadway, and it is reported that some
options have been given on several lots
on that street.
The large sale made by the executors
of the estate of the late Commodore
Davidson to Henry Endicott was men
toned in the GLOBE few days since.
The sale included the property owned
by the estate in block II, st. Paul
proper, being 11GH feet on Fourth
street. II feet on Robert street and 1873
feet front on Fifth street; and also the
northwest corner of Sixth and Cedar
streets. where stands the old stone
building that formerly belonged to the
st. Paul Manufacturing company. The
transfer includes nearly 100000
worth of property. 1t is understood
that Mr.. Endicott has made the pur-
chase with a view to valuable and imme-
diate improvements.
~
Other parties are interested with MIR.
EndicOtt III this purchase. He has re-
turned East, and will be back in st.
Paul early in May to determine upon
what improvements shall be made this
season. Those who are personally ac-
ouainted with Mr.. Endicott, and IA
milar with his views and plans, state
that the improvements will be in keep
ing with the property purchased, and
the buildings now occupying and soon
to be erected Oh Robert, Fourth and
other adjacent streets.
~
This purchase shows the estimation
I'm which the business property in this
city is held by Eastern capitalists.
They realize that business property in
st. Paul is cheaper than in other city
in the United States, and that the fut-
ure prospects of st. Paul are such that
investments here likely to be much
more profitable than railroad bonds or
securities, or, indeed, anything else
that is offered in the market at the
present time.
The extension of the various railways
centering in st. Paul and the develop
ment of the immense area of territory
naturally tributary to the Twin Cities
is rapidly making this favorable point
for the investment of capital. The
growth and development of the North
west within the next ten years will GER
tainly surpass that of the past decade.
and if these cities go on doubling their
population every five years as they
have in the past, it will give to st. Paul
and Minneapolis population approx
mating a million people within the next
ten years. The business that must
naturally be done at this point will de-
mand larger accommodations than those
now to be found in the city.
~
The cheap rates of transportation that
Are afforded to this point by the open
ing of the 500 road and another trunk
line east, along the south shore OF
Lake Superior, have already given
much cheaper freight rates than were
ever before offered to the merchants
and manufacturers of these two towns.
The chances are that the Rates will go
still lower on the completion of the
line, and the consolidation of various
roads with the 500 insures large bus
mess extending west to the Rocky
mountains, and possibly beyond, iuto
the territory which has naturally been
tributary to the cities ON the Pacific
coast.
Vii ru,111 n oJ1If iYlI
the wholesale houses and factories of
st. Paul that can scarcely be estimated.
Capitalists from all over the country
are satisfied that this is the best point
for them to invest capital with a GER
tainty of large and profitable returns
within the next twenty years. A num-
Der of men of money are III active nego-
tiation for property in st. Paul. and
during the present year it looks as ii
there would be more foreign capital put
into business property in this city than
has ever before been invested.
80
During the lifetime of the late Com
more Davidson his favorite project
was the building of large arcade build
ing. extending from Fourth to Fifth
street through the center of block II.
It is said on coed authority that he
caused an examination to be made Of
several arcade buildings and some pre-
Gminary sketches to be prepared by an
architect, which were to be used as the
basis of fine building of this charac-
ter. The gentlemen who have pur-
chased the property from the estate
may possibly determine to carry out
some portion of the plan and make an
improvement of the character contem-
plated by the late owner. The property
is so situated, III the very heart of bust
ness, that it can not but be immensely
valuable when properly improved.
On one corner of the block is the
First National bank. On another is
the st. Paul Savings bank. The corner
of Robert and Fourth streets will be
occupied by a large building, and the
National German-American bank build
ing is already ON the opposite corner.
DR.. Skinner, of Detroit, and his assOci-
ates in the purchase, who own the
corner Of Fifth and Robert, it is under
stood will also erect fine building
thereon in the near future. This, with
the improvements contemplated by Mr..
EndicOtt and those interested with him.
will make block II one of the finest and
most valuable in the entire city of st.
Paul. The property on the corner of
Sixth and Cedar has on it some old i'm
provements that are bringing a trifling
r entail, and possibly those will not be
disturbed until another season, as it
will be somewhat late to procure plans
and make improvements this year
commensurate with the ground pur-
chased.
The grading of East Seventh street
out to White Bear Lake avenue is al
ready in rapid progress, and hundreds
of men and teams are at work prepar-
ing this great thoroughfare for the traf-
fic and travel that will pour over it from
the east city limits to the heart of the
business center. 1t has resulted in con-
siderable inquiry for property all along
the line. Col. j. III. Davidson has made
a sale of thirty lots in j. N. Rogers
Fourth addition within the past week,
and negotiations are in progress which