St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-01-06
The New Year Begins Well
and Indicates an Inn
proved Market.
Business Spreads Out It's
Tentacles and Embraces
the Seven Corners. ~
Growth Of the City Should be
Freely Advertised by !
Residents.
An Apartment House Trust
Which Will Boom Build
ing Operations.

The closing of the year 1888 and the
first week Of the new year find the st.
Paul real estate market still strong, and
in more hopeful condition than it has
been for a year. The activity that has
marked certain kinds of realty, such as
Eighth street and inside business prop
erty, during the last few week OF 1888,
has not only been sustained, but has
been largely increased during the first
week in 1889. During the first five
days of the new year there has
been marked increase of inquiry for
this kind of property. One noticeable
feature of the market has been the fact
that our own people have manifested
disposition 10 take hold. Heretofore
they have held off, and seen outsiders
come here from DEBORAH. To-. and from
New Albany and pile up money in real
estate right under their noses. One of
the most noticeable transactions
during the week was the purchase OF
the southeast corner of Third and
Jackson street by William Dawson for
S125,000. There is no mistaking the fact
that Eastern capital is flowing more
freely, and real estate agents have been
searching for sites for new business
blocks, especially in the business dis
triet, and all through the district
bounded by Wabasha, Jackson, Third
and Ninth streets. In addition there
has been little more call for acres.
Conservative real estate agents have
carefully reviewed the years work, and
they feel that although much more bust
ness could have been done, yet taking
the large amount Of building, together
with the real estate transactions, the
year that has just closed has been a
very satisfactory one. Looking at the
results of the opening six days OF the
new year, during which greatincrease
of inquiry has been noted. they are of
the opinion that the outlook for all
active year is greatly improved. Last
year was one of decidedly upward
tendencies, and they have been consid-
erably increased by the history Of the
first five days of the new year. 1t is an
admitted fact that prices have been
maintained during the past year, and in
many cases have been increased. One
cannot go in any direction from the cen
ter of the city without beholding evil
dence of the growth of the city, espe-
cially in the suburban towns. Airing
ton Hills on the northeast. Dayton's
bluff, West st. Paul, South st. Paul, the
Union stock yards, Inver Grove, Mer-
RAM Park, the Transfer, Hamline, st.
Anthony Park, all along Rice street
out beyond Front street, and north of
the eity-all through these districts the
building has been very great. New
homes, new school houses have been
constructed that would surprise one
not familiar with the locations. This is
not the work of boomers, nor is it real
estate talk. 1t is solid growth that is
helping to make st. Paul what she will
be in the future. People have gone
there because property was cheaper and
expenses of living less than in the city,
and because cheap fares and frequent
trains and street cars rendered these
outside points more desirable. Within
the city the change has been very Strik-
ing. Many heavy buildings have been
erected, especially between Wabasha
and Jackson, and thus the attention of
moneyed men has been especially di-
rected to this part of the city. At last
the attention of st. Paul capitalists has
been directed to this part of the city,
and several pieces of realty on Sixth
and other streets are to-day subjects of
negotiation. The character of this part
of st. Paul has been pretty we'll settled
by the work of the past year. The
sharpest and most observant real estate
dealers also notice with satisfaction
that the heavy business part of town is
tending strongly up towards Eighth,
Ninth and Tenth streets. A few
years ago the wholesale part of the
city was confined to lower Third
and Fourth streets. 1t has now swept
UP to Seventh, and must, of necessity,
move further north. Business is also
crowding IN another direction, and that
is out West Seventh street. Many
shrewd business men predict that one
of the most active parts of the city will
soon be found above Seven corners.
The opinion is held by some dealers in
real estate that some of the cheapest
property in st. Paul is now to be found
as far out as the city hospital, and even
beyond that point, and claim that when
it fakes start large amounts of money
will be made there in realty. The city
of st. Paul has arrived at that point
when it is necessary to have a good
many trade centers, and the shrewdest
buyers are looking after the property
above Seven corners with a good deal
of interest.