St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-22
QUITE QUIET.
The Mercury Booms and Keeps Realty
Inactive,
BUT PRICES HOLD UP.
Owners Confident All Around What
Dealers Have to Say
Building Notes.


inactivity in minneapolis real estate
owing almost wholly to the mercur.
dwelling in the double figure columns
below zero, SO that the chief comfort O
both buyer and seller has been to sit in
doors and absorb the heat from the
glowing anthracite. The situation prac
tically remains as it was last week, al
though the number of inquiries for de-
Sirable bargains have materially in
ere aSed. There is but little property
being forced on the market at present
while year ago there was an apparent
desire on the part of large number tC
sell their investments if there was but
slight margin above first cost. This
feeling and open disposition caused the
belief to prevail among the doubling
ThOmaSeS that great inflated real eS.
tate bubble had finally burst and scat.
tered values to the demnitiOn bow
vows. But when it was found that there
were fully as many buyers as sellers,
then the craze was cut short, while
many were doubly anxious to buy their
property back again at higher figure
than they sold. The largest owners of
Minneapolis realty know to a positive
certainty that the values of their prop
erty are upon sound basis, and further,
that great many values have not kept
pace with the rapid growth of the city
nor the equally rapid development of
the Northwest which has been so instru-
mental in the past upbuilding of Min
neapOliS.
Before the extension of stleet car
lines, outlying lots were undesirable
property except for investment, and
consequently were offered at COM
paratively low price, but the moment
they became accessible there was a
doubling of values. 1t is just the same
to-day. Take the lots at Kenwood, Oak
Park, Forest Heights and other points
a distance of mile from quick transit,
and the present prices are low compared
with what they will be when the street
car lines are extended to them by
another season or two. The same rule
again applies to the east side, locality
that but little is said about, although a
careful inventory will disclose some
wonderful strides made there the past
year. The location of the 500 shops,
the building of the stock yards and the
construction of the bridge at Twentieth
avenue north will bring all that terri
tory into prominence, while the extern
sion of the motor line around to Long
lake will facilitate the settlement of
section of territory now but sparsely
occupied. The bridging of the tracks
at Washington avenue north will cause
North Minneapolis realty to jump up the
scale at least 331s per cent, while if the
same thing be done with the Hudson &
Dakota tracks in West Minneapolis, the
property in the Eighth and Thirteenth
wards will be materially enhanced.
Upon the completion of the Franklin
avenue bridge in the early spring, great
activity will occur in real estate ada
cent to Franklin, and near the bridge,
as it will materially lessen the present
distance. by wagon route to the capitol
city, and bring into the market section
event. Then again the building of the
Lake street bridge will create a demand
for property adjoining that favOrite
boulevard between the two cities.
But few actual sales have occurred
during the past week, although several
good sized ones are in nearly COM
pleted state.
Holmes & Brown sold five lots in Fair
G round addition. for $SO50, as follows:
Lots, 10, 20 and 81, block 1, and lots 9
and 10, block 2. They have sold since
June last, IS lots in that addition.
BUILDING ITEMS.
The Spectator Annual has very COM
pIete record of the building improve
ments for 1887, which furnished a reli-
able conception of how rapidly the city
is improving. The number of permits
issued by the builing inspector was
4.739, aggregating in cost to 1850, 900.
The Fourth ward shows the greatest
closely followed by the
Fifth and Third. while the Twelfth
presented the smallest amount of i'm
provement.
Among the most important edifices
that will be constructed the coming
season is a $4,000 residence on Mt.
Curve avenue, back of Lowery's; an
$1,000 house on Girard avenue, near
Franklin; some fifty fine residences in
Grove park and several in KenwoOd.
Oliver & Davis will build a three-story
trimmings to cost $4,000, at the corner
of Linden and Lyndale avenues.
Frank E. Little will erect new
$4,000 brick and stone warehouse and
factory at the corner of Sixth avenue
south and Second street, with
double basement, also fine private
residence on Harmon Place, opposite
the park, which will be completed by
Feb. Is. This house will be of stone
and tile, while every room, from base
ment to roof, will be finished in the
various hard woods. Electric wires will
be run throughout.
G. A. Proctor will erect three good
residences in Calhoun Park in the early
spring, while plans are out for ten flats
at Hopkins.
A 100000 church edifice will grace
the corner of Eighteenth avenue South
and Twenty-secOnd street, to be known
as the Holy Rosary Catholic church.
FAIR Ground addition, is nearly COM
pleted, at cost of SIS, 600, including the
site. The building is 17SX7S feet, three
stories, of brick with MankatO stone
finish. The interior is finished in Oil,
and has hard wood floors.
OPINIONS.
Parsons e CO.-Generally speaking,
real estate is quiet, although we are on
the eve of closing couple of big deals
involving quite large sums of money.
Bradford & Co.-NO change worth
mentioning since last week.
Barnes q Co.-Have made few
small sales. and are receiving numerous
inquiries, but the market is rather dor
mant.
Marsh & Bartlett-The cold weather
has BEEN a dampener on all outside
business.
COrser & Cove manage to do lit
tie something every day. There are
but few deals of any consequence, al
though the number of inquiries is in
creasing.
Longfellow & Russell-Wait until
spring and you will see things boom at
West Minneapolis.
THE REVIEW
Which follows gives the summary of
the transactions for the past week. as
compared with the week Immediately
preceding.
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