St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-04

the new pOstOffice block on Second ave-
nue. has jumped from less than $40 a
front foot to 81, 500 in the last ten years.
Residence property along Hennepin,
Lyndale, Chicago, Nicollet, Park, Port
land and other avenues is held at stiff
figures. Out by the lakes and bOule-
wards the choicest lots are worth from
$4,000 to $4,000 each. Lots in the vari-
Gus additions south of Lake street
and in North Minneapolis are being
purchased quite extensively by those of
moderate means, while Northeast Min
neapolis is coming to the front in great
shape. The season of 1883 will be a
busy one in all departments. More
business blocks and more residences
will be erected than In any sea-
son for years. The comparisons
of real estate values in last
Sundays GLOBE have created
an undated interest among all
and see where they ''missed it."
Said a Chicago gentleman last week:
II can't comprehend the rapidly with
which the ties of Minneapolis and
st. Paul have grown within the past five
years. it is simply marvellous. And
speaking about the two Cities" con-
tinued the Garden city man, eff the
interests of the twins become identified
with each other, and both towns work
tremendously together for self-prOtec-
ton, they need fear no competitors
SOME NEW COMPARISONS.
The GLOBE presents to-day few adj
ditiOnal real estate comparisons i'll vari-
Gus parts of the city, in both business
and residence property. The object of
these publications is to show what has
been done in the past few years, and
what the opportunities are for accom-
plishing the same object in the future,
and, as an old resident says: ''All it
requires to make fortune in Minneap-
oils realty is plenty of faith and little
money"
In 1876 Segelbaum Bros. purchased
the corner lot at Third street and Nicol-
let avenue for $500 front foot. The
same year they erected the building
they have occupied continuously, and
to-day $4,000 front foot is very
modest consideration for the lot eX-
elusive of the buildings.
In 1874 w. F. Meader bought the cor
ner, 5Ox15O feet, Fifth avenue and
Eighth street south. for S2,250, since
which time it's value has risen to $3.50 a
front foot, or S12, 800.
In 1876 Lou and George Christian
gained possession of the two double
corners comprising one-quarter of the
block between Fourth and Fifth ave-
nueS south for $4,000, and now the
valuation is 100000, making an average
of $3.50 front foot.
In 1872 w. M. Bracket had an OPP
portunity of buying the corner of First
avenue south and Second street for
$4,000, but couldn't see the point, while
in 1882, ten years later, George Bracket
paid $12,5O0 for it, and in 1886 erected
the large brick block now occupied by
Shotwell, Clerihew & Lothian, whole
sale dry goods.
ACREAGE FIGURES.
Jno. S. WarnOck furnishes the fol-
lowing:
In 1883 he bought so acres, now known
as the Nicollet Park addition, for $3.50
an acre, or $4,000, and the former
owner paid $4,000 for 1t less than one
year previous. That addition now is
easily worth $4,000. At the time MI
could have bought an adjoining 80 acres
tor less than $500 an acre, which is held
to-day at 100000.
| bought in 1888 seven lots, now part
of Central park, for $500 each. and
less than three months after sold them
at good profit, while to-day the same
property readily brings $500 a front
foot.
Bought in same year four lots In
Places addition on Vine Place, between
Fourteenth and Fifteenth streets, for
5000. Sixty days subsequently sold
them for $4,000, and they are now worth
$4,000 each.
In 1888 a syndicate, of which Mr..
Warnock was a member, purchased a
plat of so acres and called it Paramount
addition to North Minneapolis, for
S44 200, or $500 per acre. They plated
it into 42O lots, which are selling for
from $500 to 81, 600 each.
In the winter of 1886 Warnock & Tur-
ner bought forty acres of land of the
Josiah Jones tract on NicOllet, between
Third avenue south and FOrty-fOurth
street, for $4,000 which was cOnsid-
cred high price, but they sold it ten
months afterwards for $4,000, and it is
worth to-day an even 100000.
REMARKABLE INSTANCES.
Among the most remarkable instances
is the eighty acres comprising One-half
of Oak Park, purchased in 1882 by w.
A. Barnes e Co. for 1900. or $400 an
acre, or as now plated, SSS per lot,
while the same lots are now bringing
from $4,000 to $1,000 each.
In October, 1879, twenty acres in the
same addition were sold for $4,000,
or as now plated, 1923 per lot, and
Barnes & Co. are now selling these lots
at 81, 900 each. The rapid rise of values
in this particular locality is attributed
to certain extent to the growth of
the city in that direction, but more eS-
pecially to the large number OF hand
some improvements that have been
made there.
In March, 1886, Barnes & Co., sold
seventy feet on Hennepin avenue,
where Hennepin Avenue theater now
stands, for $500 per front foot. A con-
sentative valuation would be $500 foot
now.
In October, 1885, the same firm sold
336 feet on Hennepin avenue and
Twenty-fOurth street for $500.
In the summer of 1887 the owner
was offered S11,500 for 1t, but
sold twenty-five feet on Franklin ave-
nue.. near Sixteenth avenue south, for
$50 per front foot, and the present value
is 5000 foot. Again in May, 1885, they
sold twenty-five feet Oh Central avenue
for S., 600, and at present the valuation
is $13. 200.
In October, 'S5, Barnes & Co. sold
fifty feet on Ninth street between Mic
Ollet and Hennepin avenues for IS, 700,
and have been offered for an adjoining
lot of the same size, $4,000.
Nelson Williams in spring of 1871
purchased the front One-third OF lots 4
and 5, block 22O, Brown & Jackin's addi-
ton, for 81, 900, also middle one-third OF
lots and 5, block 220, same addition,
for 81, 800. This property is on the
corner of Second avenue south and Sew
ctraat aud ic 1uartE t0-dau S1QQ QQQ