St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-11-23
GILT-EDGED PROPERTY.
"A Syndicate Invests Heavily in
Midway Acres,

Midway Acres.
Another large real estate deal was
consummated yesterday, amounting in
the aggregate to S30O,0 The purchase
included two pieces of land, one of
eighty acres and the other of sixty.
constituting part of what is known as
the old Butterfeld estate in the Midway
district. This Butteriield estate is as
well known as is the Desnoyer estate,
located still farther out, and forms a
fair Illustration of how easy it is for. a
man to make money if he can
buy tract adjoining a prosperous
city and hold it. Hon. II. M. Rice at
one time owned hundreds of acres on
what is now known as the most popu-
lous part of st. Anthony hill, right
along OH Summit avenue, where the
wealth and beauty of st. Paul now rolls
along in luxury, and the stately minuet
is danced. John l.. Merriam also
owned large tracts of land between the
two cities. Both sold too quick. Had
they waited they would have put mill
ions of dollars in their pockets. The
purchase yesterday was made from
French marquis, who resides abroad,
the heir of Butterfield, by a syndicate
consisting Of Messrs. Oppenheim. Kali
man, the Manufacturers and some others.
Both these pieces are admirably located,
right on the line of travel between the
two cities. The sixty-acre tract is
bounded On the south by st. Anthony
avenue, east by Dale street, west by
Victoria street, and north by Aurora
avenue. Fuller and Martin streets run
through it from east to west, and it lies
beautifully in a direct line with Midway
Park, SO that, if Aurora avenue and
Fuller and Martin streets should be eX-
tended, they would pass right through
the track and costly barns erected by
the late Commodore KittSon. st. An
thony avenue, as is well known, runs
along the south Inns Of what is known
as the Kittson place, or Midway. The
other tract comprises eighty acres, and
is located Oh the east of Calvary GENE
terry. 1t is bounded on the south by
Minnehaha avenue, north by Front
street, east by Dale street and west by
GrOttO street. The Manitoba road runs
through this tract, almost in the center,
from east to west. and Como avenue
just touches the northeast corner Of it.
Lit is also Oh direct east and west
LINE WITH HANfLINE UNIVERSITY.
When the streets are opened west to
Hamline and westward of it they will
pass through this tract and Hamline.
Tue price paid for this property was
100000, or 50, $50 per acre. 1t is under
stood that the negotiations have been
long continued and not free from diff
culties of a very troublesomeecharac
This is not the first large tract this SYN
dictate. or at least part of it, has pur-
chased and laid out as residence proper
ty. Messrs. Oppenheim and kalman
and others laid out several parcels of
land as residence lots Oh the north of
University avenue, south of this very
piece they have now bought. These
were called Syndicate Numbers l, 2, 3,
and all of them were disposed of
rapidly. Many of the lots in the
Univerfity avenue syndicate blocks
could not be bought to-day for 50, 500.
The fact that these men buy so heavily
in this giit-edged Midway property
shows two things. First that the prop
erty out in that direction is first-clasS
and good to get hold of, and second that
the growth of the city is in that direc-
ton. This SiXty-acre tract is OH a di-
rect line to Union Park and the Mime
sofa Transfer, while the eighty-acre
tract is in the direct line to Como, Ham,
line and the State Agricultural society
grounds. If any one will take the
trouble to look at the map he will see
that population is tending out in that
direction very rapidly. The capitalists
who are putting into this purchase such
a large sum of money are among the
ab1est and shrewdest business men in
ST. Paul. and will, it is understood, plat
the same and as soon as it is convenient
put it Oh the market. This transaction
simply emphasizes the oft-repeated
statement that the Twin Cities are grow
ing together. 1t is seen now by people
who take a hroad-gauge view of affairs
that all the important avenues will go
to the river, and that sooner Or later
will cross the stream aud meet the Min
neapoliS people at least halfway.