The Indianapolis journal., 1891-10-18
REAL ESTATE PICKING UP
Several Large Sales of Residence and
Business Property During the Week.
lrvington and North indianapolis Doing Well
Safeguards Thrown About Building As
sociations-Local Savings Societies.
SOME LARGE TRANSACTIONS.
Real Estate Beginning to Pick Up-M
Shiels's Profitable Investment.

Real Estate Beginning to Pick Up-nIr.
Shielss Profitable Investment.
The past week, including, as 1t did. a
very exciting election, was rather quiet in
the real-estate business, though a number
of good-sized transactions took place.
Among these was the sale of No. 675 North
Pennsylvania street by Charles +. Sayles.
who had just completed it. TO Joseph X.
Lilly for $4,000, and that of the Ross Block
by ID. c. Bryan to the Indiana Investment
and Savings Company for $1,000.
and New York men has purchased
part of Columbia Place, the suburb laid
ont on the electric line near Fairview
Park, for $4,000. The purchase has been
divided into eighty lots, each 4Ox22o feet.
and will be put on the market In few
days. The lots will be piped for natural
gas. During the week an auction sale. to
close out the estate of Elijah L. Fletcher,
has been going on at the courthouse door.
Among the properties sold were 24O lots in
Brightwo0d, a long strip for factory sites
fronting on the Bee line 1T that place and a
farm of 12S acres near by.
Rody ohiel is reported to have lost ST.
on account OF lack CI JuuRucut IeRaTO-
ing the issue of the city election. Mr..
Shiel, If the report be true, would not be
deserving of any great eifusion of sympathy
on the part of the public. 1t is not likely
that he will 60 over the hill to the poor
house; 2Ys;,. 81. - ~ n.oauo..
"ROdy" was attending to some other
business, and closed a deal yesterday
which will enable him to get through the
winter with fair share Of the comforts OF
syndicate fs cr of '0%i Which time Mr. Bsumsnn hsasc
experimenting architect OF the
soldiers monument. is the head. has been
negotiating with Mr.. Sbiel for the property
known as Birds POint.n at the corner Of
Illinois street and Indiana avenue. and for
half OF the property known as the Mar
lowe Block" which is In the rear.
The deal closed yesterday. Mr.. Shiei dis
posing of the property for $4,000, no COM
missions The purchasers assume the esti-
mated taxes for 1891 and the street i'm
prOvements now assessed against II. This
would make the price paid amount as to.
tai to about SD. 900. upon which Mr.. Shiel
makes net profit of S4Y5OO.
The syndicate has purchased this prop
erty for the purpose of erecting an apart
ment- house to be seven stories high, with
all modern conveniences. 1t will cover q
frontage of 151 feet on Illinois street and
Isl feet on Indiana avenue. The new
building Will be begun next spring and be
pusucu 10 COulpiCtlOu, Will biuo OuiCoSo
enterprise.
Now that the election is out of the way
dealers hope for n more active movement
and that for thirty days at least there will
be something like activity in a market in
which there is no good reason for depres-
sion. There has been some activity out to-
wards IrvIngton. East Washington
street from the corporation line to that
suburb is being graded and graveled
to that suburb. a distance of three miles.
and there is lively hope that early next
year rtheelectric line will be bedouble-tracked
AtTuxedo Park, which came in few weeks
ago with ACT lots. $50 lots have been sold.
and other property along the line Is also
selling. Michigan and Ohio streets have
been opened from the city limits to Irving
ton. and a number of houses are going up.
There is fair demand for North In
dIanapolis lots. Among Q number OF real
estate dealers the inpi cssion prevails that
the small lot business IN far-away additions
is being overdone and it is time to dis
courage the plating of new additions OF
this character. 1t is considered that for
speculative purposes such additions will
not pan out. as the call will hereafter be
for pieces of not less that half acre and
from that to five