The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-02
LARGE APARTMENT HOUSE
"Swell" Flat Building to Be Erected at
Pennsylvania and North Streets.
Will Be Five Stories High-Big Deal in
Reagan Park Lots-Electric Lines
and Real Estate.

Hibben Co.. has closed the contract for q
large fve-fioor residence fiat to be erected
at the southeast corner of Pennsylvania
and North streets. This edifce will mark
an era in the history of Indianapolis build
ing. The fiat will be modern structure
in every particular. equipped with steel
elevators and all conveniences, as COM
plete as such buildings are made in Chi
cage or any other large city. It will be
occupied by families who can afford to pay
good rents. 1t will be very stylish as
we'll as costly structure-in fact, there Is
nothing in this city that will compare
with it. The contracts for Its construction
have been let. and as soon as Mr.. Murphy
can consult with his sister-in-law, who
lives in Pittsburg. the work will 60 speed
lily on. There is little doubt but that all
it's apartments will be let long before the
building is completed. It is a marvellous
fact that there are hardly any good resi-
dence properties In this city for rent that
are not already occupied. There are fewer
rental houses of any kind vacant at this
time than was ever known before. There
is at present q great demand for nine and
ten-room houses, renting at S45 and $50,
and even S65 month, and there Is, per-
haps. no other city of similar size that has
not more Of such houses vacant than Ipdi-
anapolis
1t seems to be an assured fact that the
Citizens Street-railwsy Company means
to put in seventy miles Of electric track
this summer. It's intention to improve all
the lines about W hich they notified the city
the first of last week has already had Ger.
tain effects on the property in the districts
through which these lines are to be built
Mr.. John Spann said last night that he did
not think 1t wise for people to wait fifteen
minutes when thinking Of purchasing prop
erty on proposed electric lines $50 far as
we are concerned" said Mr.. Spann, I'VE do
not feel like crowding properties. We be-
lieve in the growth of the city and its prog
ress. You know we have been here q long
time. through thick aud thin. and think
We know the CITY pretty WELL In Morris
Place we are not pushing sales. These lots
are gilt.edge and will survive as the tittest
OF course our improvements are to
be made there; still lots will be
sold cheaper to those preferring to in
this. we have more purchasers than we
have suitable property to furnish them.
The car question should figure little be-
cause il one company don't improve street
another one WILL
Some time ago the City Council was petit
toned by the Board of Public Works and q
large number of citizens to annex about
Sl.OO0.OO0 worth of property. bounded by
Meridian street on the west. Seventeenth
street on the north to Line avenue, thence
to twenty-second street aud to Fall creek
on the west. This the Council refused to
do. ard J. L. Wright & Go. are very much
in all the city is not the least bettered by
the refusal.
MIR. Robert Martindale, manager of the
jackson Park tAnderson) syndicate. re-
ceived "A telegram yesterday from his agent
at Anderson. asking if the company would
negotiate with q company who desired
three acres of their land for the purpose of
establishing pottery factory thereon
which would employ 300 men. Mr.. Martin
dale telegraphed for further information
and to know what the Anderson CONNER
cIal Club would do comparatively for the
establishment of the company. There is
no doubt but that this company will be
offered sufficient inducements to eliminate
their projects
Mr.. |. n. Richie has succeeded in selling
one-fourth of the lots in Meadland. An
average sale of one lot each day in Morton
Place was made last week. In all direc-
tions and at nearly all prices properties are
selling every day of every fair week. and in
the words of Charles Bookwalter. What
more could You aski"
Charles Martindale and three other
gentlemen. whose names are not yet known,
purchased yesterday of MIR. NJ. +. Vinton
fifty-three lots in Reagan Park. on College
avenue, for q consideration Of ISL, 400
These four men have purchased the lots
with the view of building on them ell and
selling them on lnstallments.
Samuel Z. Rauh sold his residence on
North Alabama street to Joseph f. Gent
for $40. 900.