St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-10-06
REALTYS TOP NOTCH.
she Highest Price Per Foot
Ever oaid f9p st. Paul
Property.
Sale Of the Corner of Fifth
and Robert for 81, 40 Per
Front Foot,
Review Of the Week in the
Market and Among the
Dealers.
Suburban Property Monopo-
lizing Attention and Doing
the Building.

There is one thing that the GLOBE
has been impressing upon It's readers
for a long time, and that is that real
estate in st. Paul is too low. One sale
last week has proved this claim to be
entirely correct. The lot at the corner
of Fifth and Robert streets was S0ld Dl
Smith Il Taylor. acting for Miss Sioweil'
for the sum of S150.00O. The lot has 10!
feet frontage on Robert street and is
next to the Endicott building. 1t Is not
known who bought 1t, but 1t Is uSuaily
supposed that the EndicOttS are the
BUYERS. Their building is to 90 through
to Fifth street, and it Is known tllat
they want the corner. Ihe price pdlu
is about Sl,41O foot front. Here is as
fine piece of business property as can
be found in the city, one block from The
RYAN hotel, on the street car line. on
street which crosses the MlsslS-
sippi on the best bridge i'll the
city, one block from the cable
car line, in the same block with the two
largest buildings in the city, within ten
minute walk of the union depot, Ill
tact possessing everything that makes
site advantageous: and yet it only sold
for Sl.47O foot! This is the highest
price ever paid for piece of property
In ST. Paul, and seems redlculOuSly low
when compared with prices IN other
cities. Take Minneapolis and Kansas
City for instance, where property mas
been sold for from s., 600 to S3.OOO; there
is no reason why the prices should be
anv higher than in ST. Paul There is
nothing in the intrinsic merits of these
cities that warrants the great difference
In values. Why. even in Duluth. which
is only one-fifth the size of ST. Paul,
property similarly located cannot be
bought for less than 81 600 foot. Ii is
a conservative statement to make tnaJ
this piece of property would have been
cheap at from g, 600 TO 81, 500 foot.
The Midway district is receiving It's
full share of attention, and property on
or near the new car lines. Lots III this
part OF the city are good value at the
present figures. The whole district be-
tween the city and the river will in a
few years be entirely filled up with the
finest residences in the city, and lots
that are now selling for $1,000 and up
wards will be worth ten times as much
A number of firSt-claSS deals have
been made during the week. Bushnell
d Bushnell report large business i'll
lots on University avenue, west OF Lex
lngton. Gov. Merriam spent $4,000 III
property during the week. Davidson,
Bayard & Co. have been at work on the
deal for some time, and only closed it
yesterday. The property bought by
the governor consists of several
lots on the hill. among them
being the new block of apartment
houses at the corner of ST. Adams street
and Ashland avenue. Besides these,
and the sale Of the Robert street prop
erty already referred to, many smaller
deals have been made. Prices are hold
ing up and show decided strength,
with a tendency to advance. The
amount of building going on is doubt
less responsible for this strength, com
bined with the gradually spreading
recognition of the fact that no city on
the continent of such advantages for in
vestment offers such good security and
certainty of profitable returns as st.
Paul. All brokers report that they
have any amount of money TO loan, and
that it is being freely placed at rates
varying from 6 to per cent. according
to the character of the security.
Now that there is a certainty Of cleo
trio motor lines being built into every
quarter of thacity. there seems every
probability Ofsa lively time and great
activity in real estate. The building
permits are now far larger than they
ever vert UelOl6, dllu TIT ClIl 10 opiCdu-
ing all over Ramsey and away out into
Dakota county. The increased facilities
given by these new car lines are causing
people to go out into the suburbs TO live
who up to the present time have had TO
live in the city. When the lines are
finished, as h " will all be during the
next twelve months, suburban lots will
become high-priced. They are within
the reach of all now. and those who are
wise will buy before the inevitable rise
comes.
BUILDING PERMITS.
The following building permits were issued
yesterday:
W II Reed, History frame dwelling,
Dayton, near Wheeler ..........--.- 81 500
Mrs Carrie Kenning, 2-story frame
double dwelling, North, neaw Law
renee -......-..--- ....- 49, ,OOo
Nels Peterson, 2-story frame dwelling
La Fond. near Wheeler. -. -, $50
Fl Wood, 1-story frame dwelling, Ash
land. hear Grotto.... ...........-.....1,5 500
Leonard Bramlinger. repairs TO dwell
ing. Thomas near Kent 80. ......... 900
Eight minor permits Observation-Disclosures. 1,30J
Thirteen nern1itS total 80 no