St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-12-23
ST.PAUL REAL ESTATE
A Decided Improvement OBJ
served in the Condition
Of the Market.
Large Sums of Money Invest
ed in Buildings During
This Year.
Eighth Street Property in De-
mand by Sagaeious
Capitalists.
Bridging Ravines in the East
ern Part of Town Will
Create a Boom.

able for large sales, but great i'm
provement in the market was observed.
Dealers report that there is decided
improvement and say that it is surpriS-
ing that sales should be limited where
such an enormous amount of money has
been put into buildings. The erection,
however. of such large number OF ex-
pensive structures, running as high as
seven, eight and even twelve stories,
constitutes permanent Improvement
that adds to the appearance of st. Paul.
While the market has not been active
and real estate men have failed to score
large incomes, the city has not lost any
thing.
AS an illustration of the stability and
strength of the business of st. Paul,
during the past year and half prices
have remained steady and firm, and in
a good many cases have advanced ma
terially. This is especially true Of in
side or the business property.
During the past week MeSsrS. Bush
nell q Bushnell sold tract of ten acres
north of Lake Como for S1,0co per acre,
which two years ago was bought for
$3.50. While there has not been much
demand for outside property, its value
has been steadily maintained, and now
that there is some revival 1t feels the
effect just as quickly as any other class
OF realty,
Eighth street property is again at
tracing attention, and inquiry for prop
erty on that tn OrOughfare is much more
active. For the last four or five months
parties have been carefully and steadily
faalirn tho mo rlyn and nndna UAvInp tn
pick up all the property possible on
this street. This has been caused by
the understanding that the lower end
of the street was to be bridged. When
this is done it will bring into the mar
ket large and important part of st.
Paul that has been in measure iso-
lated through its inaccessibility to the
center and business part of town.
In connection with this Eighth street
eXtentiOn there are several large and
expensive improvements that will af-
feet the northern part of Dayton's
bluff and property in the northeast part
of the town. The bridge that is spoken
of is in reality the Grove street bridge,
and the big ravine through which Trout
brook runs. This structure will be $50
feet in length and will cost S62, 600, and
will be built by the railroads. 1t will be
constructed of iron and the full width
of the street, the same as the Robert
street structure. The approaches will
be constructed by the city at cost OF
$4,000. 1t has been through the board
of public works, which reported that it
was proper and necessary, and that
property would be benefited equal to the
cost of the approaches. The council
will probably send the final order to the
board for the work to proceed at its
first meeting in January.
~.*
1t is also proposed to bridge Burr
street, from the north line of Wood
ward street to Grove street. This will
open up an additional part of the town,
which will become tributary to Eighth
street, and will still further enhance
the value of that street and all the prop
erty on the lower end of it. The board
has also before it an order of the cOun-
Gil in regard to a bridge from the inter-
section of Decatur and EdgertOn streets
across Phalen creek valley to intersect
with Maria avenue. Earl street is deS-
tined to become very prominent street.
The contract has been let for grading
it from Seventh street to Lake Phalen,
at cost of $500. When these i'm
forded will bring to the front large
territory that has been held back for
long time, and it is through these ave-
nues that business from considerable
area will find it's way into Eighth street.
~
J. Fairchlld & Co. report that the
largest inquiry they have had has been
for property around Front and Rice
streets. A number Of sales have been
made.
I'll. S. Fairchild G. Son report a good
many inquiries for business property
and some for acres. Sales were made
by them, but none for very large
amounts.
Stone & Morton continue to do good
business in Stone q Morton'S addition
in the vicinity of Arlington Hills, where
prices are moderate and terms are made
very reasonable.