The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-05-05
rRICEs OF CITY PRoPERTY.

Some recent sales of city property enable
people to form some idea of what it is worth.
It is pretty we'll established that Market
street property in the vicinity of tie City
Hall is now worth something like $4,000 or
$1,000 front foot, and that residence prop
erty in the parallelogram between the ave
nue. and DeyiSader0 street and California
and Vallejo street is worth from $500 to
$500 front foot. according to location and
surroundings. On Cough, Franklin and the
blocks on California and Pacific, west OF
and near the avenue, much higher prices
would be asked If there were any lots listed
for sale. There has been an alvarez in
both residence and Market-street property
since 1887, though it may not have been
quite as large as in some other cities, as, for
instance, in Chicago.
Every one who has been to Chicago Is
familiar with Michigan avenue, which has
been considered the most fashionable and
popular thoroughfare in the city. In 1880
lot on the corner of Michigan avenue and
Van Buren, stTeet-a good business street
was sold for $500 a front foot. Two years
afterward il was reSold for $500 a front
foot, and now, in consequence Of the boom
impaired to property by the Worlds Fair. it
is valued at $1,000 front foot. Another lot
on Michigan avenue was seld in 1882 for
500 front foot. 1t has just been resold
for $3.50 a front foot In choice localities
property in Chicago is now worth from five
to eight times as much as it was ten or
twelve years ago. This is Of course largely
due to the impetus given to real estate by
the Worlds Fair, but some part of the ad-
vance is the legitimate fruit Of the growth
OF the city.
A comparison between Chicago and San
Francisco reveals no great natural superior
itY OF the former over the latter. Chicago
fronts on q lake, which gives it water CON-
muuication with the seaboard through
canals; San Francisco rests on the side of
the greatest ocean in the world, in front Of
some Of the most pOpUlous nations in the
world. Chicago is a center Of food supply
wheat corn, pork and beef San Fran
cisco is the center of the wheat supply on
this coast, and is a distributing market for
wine, wool. fruit and hops. Chicago is the
! greatest railroad center in the United States A.;
il stretches its iron arms TO the borders OF
two oceans, and distributes its products
| over thirty States. San Francisco has but
two railroad lines, and a part of third
stretching into the interior; il cannot dis
tribute its products by rail, in consequence
Of the cost Of transportation. Chicago is a
damp, cold, unpleasant city. where for sew
eral months in the year the rains and
storms and drizzle make life a burden. The
climate of San Francisco is neither unpleas-
ant nor unhealthy. So far as natural ad-
yantages are conce Ined Chicago has nothing
to boast Of when it is compared with this
| city.
! The simple truth is that Chicago possesses
! advantages which San Francisco has yet to
! secure. The railroads to Cairo and the East
were running when we had not a mile of
/ ran in this State. Chicago was large ship
| per Of grain TO New York by canal when it
was not generally believed that We would
| grow wheat for export from California. The
! back country of Chicago began to I'LL up
! with farmers when our people were engaged
| in placer mining, and agriculture was not
| thought Of Twenty years ago, when Cali
! fernians awOke 20 the notion that this might
| be a great wheaI-grOwing State, Chicago
/ began the war against the railroads for liv-
ing rates of transportation, and never aban-
d0ned the contest until the trunk lines
! agreed 10 carry wheat a thousand miles for
five dollars ton. The city by the lake is.
! therefore, in this respect, much in advance
| Of the city by the Pacific. II our people
/ display energy. enterprise and intelligence
we shall be. in 1912, perhaps, ahead OF
| where Chicago is now.