St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-12-02
ST,PAUL REAL ESTATE
Unmistakable Evidence Of an
Improvement in the
Market.
Property in Demand at Mid
way, Como and on Gro
Gus Hill.
Several Large Sales Consum-
ated. Mainly Of Acre
Property.
The Oppenheim & Kalman
Syndicate Again Buying
Large Tracts.

Dealers look upon the real estate
market as considerably improved over
the week previous. and think that while
there is no very decided increase IN
sales. that there has been change lof
the better. An impetus has been given
to 1t, largely due to the fact that certain
parties have purchased large tracts OF
acre property with view to plating it
in lots preparatory to placing them on
the market.
One gentleman remarked yesterday
that the present condition OF the mar
Iet greatly resembled the market IN
1881, when party of gentlemen headed
by Oppenheim d. kalman went out on
University avenue and purchased large
tracts of land. At that time, and for
time before, the market had been very
oniet and dull. There was but little
sale for realty. and the market did not
look as though it would ever get up
again. These gentlemen took differ
ent view of the situation. They be-
lieved that they could see the bow OF
promise in the heavens. Their courage
and confidence proved to be well
founded. Relying upon their Judgment
as TO the condition of the market, they
stepped boldly to the front and bought
freely. while others held off and re-
garded it as exceedingly dangerous to
buy with the market in the condition it
then was. These gentlemen bought
what has since been known as the syn
dictate property on University avenue,
short distance this side of Hamline.
The tract was subdivided, and num-
berpd from to ;,
They also struck in heavily on Summit
avenue property, and bought what has
since been known as Palace addition.
Their Judgment proved correct. Soon
after they bought property began to adj
vance, not very fast at first, but it soon
showed more animation. University
avenue was very fredericksburg place
out at the point OF purchase. The same
may be said of Summit avenue where
Palace addition is located. On neither
of these thoroughfares did the most san
guine expect to see in quarter OF cen
fury such a change as has been made in
these two localities within seven years.
When the purchases referred to were
made, people smiled and thought that
the gentlemen who bought had made
great mistake. No one, seven years
ago, thought that Summit avenue
would be paved with asphalt, and that
University avenue would become built
up as it is, and that it would be such
thoroughfare. 1t is very fortunate for
st. Paul that there are within its bor-
ders some men who have such broad
views, and who possess sufficient con-
fidence, before the fact is demonstrated,
to put their money into property, and
confidently await the result.
~
These gentlemen are doing the same
thing this season. 1t is a fact that for
two years the real estate market has
been very dull. Now, when there is no
change, these men put several hundred
thousand dollars into the same kind OF
real estate that they invested in seven
years ago. They base their Judgment
on the city's past growth, its prospects
for the future, and a thousand other
things that mark st. Paul in the book
of destiny as a great city. After the
purchases referred to in 1881, real eS
tate began to look up, inquiry in
creased, sales multiplied, and the mar
ket was quite active for several years
afterwards Many think that the same
results will mark the large purchases
that have been made this fall.
~
Messrs. Bushnell & Bushnell report
an increased inquiry. especially for
property in Midway, north of Como
and on Crocus Hill. In the last-named
locality many foundations have been
put in this fall, and considerable build
ing will be done there next season.
They report $4,000 sale of acres; also,
forty-acre tract north Of Como. This
property was bought last fall for 81 600
an acre, and few days ago it was sold
for 81, 500 an acre. Fifty feet Oh Good
rich avenue, just east of Dale, was sold
for $4,000, and it will be improved in
the spring by the erection OF a $4,000
residence. These gentlemen are decid-
eddy of the opinion that hardpan has
been reached, and that there will be
more activity from this time on.