St. Paul daily globe., 1889-01-13
ST. PAUL REAL ESTATE
A Decided Improvement in the
Market Observable in
Every Section.
.
Sales for the New Year Show
A Large Percentage Of
Profit.
Probability Of a European
Hotel on S. E. DaWSon's
Recent Purchase.
Encouraging Reports From
the West Side and Vicinity
Of the New Bridge.

There have been indications of in
creasing activity in the real estate mar
ket. and several prospectors have been
pricing property and looking for some
thing that is. unquestionably cheap.
Taxes for the past year are already a
lien on the realty, and no more assess
ments are likely to be made for local
improvements until work is begun next
spring. 1t is now thought to be very
favorable time to secure such bargains
as are in the market.
-
Col. Thomas Lowry, who owns the
livery stable Oh the north side of Fourth
street, next to the Dickinson store, has
bought lot 5 in the same block, being
80 feet front on Fifth street by $50 deep,
the block. distance of 800 feet, to the
south side of Fifth.
-
There are rumors of contemplated
improvements on Minnesota street, and
tween Wabasha and jackson, or even as
far east as Wacouta street. The streets
have been talked of during the week,
and parties have been very diligent in
hunting them over for cheap frontage.
Broadway and Mississippi streets are
also beginning to show signs of new
life and activity. One hundred. feet
square on Broadway was sold during
the week for 5000 per front foot. This
sale means that whenever the Broadway
bridge is built another fine, large busi-
ness block will be built on Broadway.
The promise for this bridge has met
with so many delays and dsappoint-
ments that business men do not care to
pile up bricks and mortar until there is
an absolute certainty of the bridge.
When that point is settled there will be
a very active period of building on
Broadway until the street is built up
solid from Third to Seventh street.
Many improvements will also be made
north OF Seventh. extending out to Mis-
SisSippi street. The same condition of
things prevails on the west side of the
river. Many parties would gladly make
improvements, but dare not do so until
the question of a high or low bridge,
and the consequent grade of the street,
is permanently settled.
There is healthy tone to the market,
and while it is not active, there are UNI
mistakable signs which indicate conf |
dence and an increase in business. East |
Seventh street, some distance beyond |
the power house site, has been bene-
flied in anticipation by the certainty of |
quick transportation and improvement |
by grading that thoroughfare to the cast |
city limits.
oe fl,n
opened more favOrably for the real eS- |
of. Substantial progress has been |
made, and deals of considerable magni- |
tude have betn started, which will re- |
suit in Transfers of large amounts of |
realty. and ultimately the erection |
thereon of large and imposing struct- |
ures. During the past week increased |
interest has been manifested in unim- !
proved and outlying property. Inquiry |
for this class of holdings has increased, |
out in the vicinity of North |
st. Paul and around Gladstone.
-
A few samples given at random will |
prove the truth Of the statement in re- |
gard to the value Of property. The past |
week furnished a striking illustration. |
j. ii. Davidson sold to j. d. Fry lots 8
and a, block A, Kittson'S addition, cor |
ner Broadway and Sixth streets, day |
or two ago. for 5000 per front foot. A |
little more than year ago this same
property went begging at S400 per front |
foot, and though it was on the market
for quite a long time it could not |
be sold and was withdrawn. Here |
is a clean advance of so per cent |
in one year. Property in Robertson's |
addition, OH the west side, fronting on
Dakota avenue. was offered at S150 and
5000 per front foot two years ago. Now |
much of the property has been improved !
by the erection of four and five-story
blocks so that the same vacant lots that |
were offered at $3.50 and $500 per front |
foot two years ago are now scarce at
$3.50 per front foot. On South Robert |
street, formerly Ducas street, in Bazille
q Roberts addition, lots unstable two
years ago at 500 to $3.50 per front foot
cannot now be bought for twice that
amount. A great deal of the frontage
on South Robert street between the end
been improved within year and half |
by the erection of three. four and
five-story blocks, all of which
are rented. One owner of im-
proved property has realized Is
per cent from rents of building erected
on this street. Very little property on
this street between the end of the
bridge and Plato avenue is for sale, and
that is held at from $500 to $3.50 per
front foot Property near the end of
the bridge is held at $500 per front foot,
and owners are not anxious to sell. |
South Robert street for two miles from |
the bridge will undoubtedly continue to
improve as a first-class business street. |
Large four-Story stores have been |
erected one and one-half miles south of !
the bridge. Hills have been cut down |
and the street has been extended to the |
soutnerly limits of West st. Paul.
-
There is great deal of inquiry for
realty on Mohawk avenue, where the |
south end of the new uptown bridge |
will be located, and all around that !
point large number of dwelling houses |
have been erected in anticipation of The |
completion of that structure. This is |
not at all surprising when the fact is |
taken into consideration that the new
bridge will enable people in that neigh |
borhood to reach the center of st. Paul |
by route one mile shorter than the old !
one. The completion of this bridge, |
which starts on the West side at Mo- |
hawk avenue, and lands on the north |
side of the river at Smith avenue, will |
no doubt result i'll the erection of sew |
eral business blocks in the business
district along Mohawk avenue. Those |
who have seen the changes made on
South Robert street within few years
say that property on Mohawk avenue
viii double in value within the next two |
wears. Homes costing all the way from
s., 500 to $4,000 have been erected OH
the south side of the river in the vicin- |
lty of the south end of the bridge. This |
bridge will open up an avenue for travel |
from Mendoza and to the farmers of
Dakota county and along ''the old |