St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-11-10
PROPERTY IN DEMAND
4 New Inquiry for West Side
Land for Business
Uses.
Necessity of Railroad Track
age Cutting an ImpoP-
tant Figure.
Eastern Capitalists Here in
Advance of the Spring
Increase.
Dealers Are Unanimous in
PPonouneing Business
Good.

INQUIRY for real estate runs IN curious
grooves, and seems to be Influenced by
what are often trivial causes. a man
desires to build warehouse or mill of
some sort, requiring a certain class OF
property. He hunts around quietly in
a certain locality, and eventually Sc
cures what he desires. This gives 10
adjacent property, in many cases, a
stimulus often resulting in largely in
creased prices. For some time the at
tentOn of spectators has been chiefly
rOnfned to land in the Midway district.
4his was natural. owing to the opening
hp of that part of the city by new rapid
transit lines, and that it will continue
active there is no doubt. A number of
Eastern spectators have begun TO APP
preciate the value of certain business
property, and several Important deals
have been made. During the last week,
however, a new turn was given TO the
wheel of speculation. The West side has
been almost dormant for some time, butts
now rising in the estimation of out
IiderS. Several men are now figuring
On large purchases of land across the
river. evidently with the intention of
building some large warehouses or fac
eOklCS. dS lllCN wait SOiAClniiiS hAtl9lil
easy access of the railroad tracks. One
or two good sales have been made to
these men. and they are now trying to
get options on more. There are several
points about this West side property
that should not be lost sight of by
Spectators. The city of St. Paul is so
shut in by the bluffs on this side of the
river that of necessity the business part
of the town is confined within narrow
limits. The railroads can get terminal
facilities only with the greatest difficulty
and at enormous expense. while 1t is
next to impossible for any large bust
ness concern needing trackage facilities
10 be located on this side of the river.
On the other side, however. there
is plenty of room. The flats eX-
tend for miles, and any business
house can have railroad track or
switch run into its property without
difficulty. This, then, is where such
places will be located. The tendency
is already visible, and the coming week
VIII in all probability see several big
deals made in West side property.
An illustration of the increased inter-
est st. Paul men are taking in real es-
tate was seen last week. a certain
wealthy and prominent attorney had
been figuring Oil buying a certain piece
of property for which S12, 800 was asked.
BE hesitated for several days and
eventually offered $4,000, which was
refused. He could not make up his
mind to give the extra $500. and the
owner thought the deal was off. In
day or two an outsider gave $12,500 for
the property. The following day the
attorney who had been looking at it met
the original owner and was told that
the property was sold for S12,500. ''Who
TOP" asked he. He was told, and
after a few minutes consideration
said: well, go and offer him 81, 900 for
his bargain and turn it over to me-"
The offer was accepted and he bought
IT, giving in all $500. When he saw
that it was slipping through his fingers
qe realized its value. st. Paul men
will be foolish if they do not reap, the
benefit of the advance in prices that is
bound to come with the opening of
spring. So little business property is
left that it must increase in value rap
Idly. Three New York men arrived,in
the city last week and are now looking
for downtown property. One Of them
remarked that if this class of property
were held at double the price it is it
would still be valuable.
Building lots in the Midway district
are meeting with rapid sale. All the
dealers report heavy sales at good fig
ures. most of the purchasers being men
who will build themselves homes as
soon as the frost gets out of the ground.