The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-04-18
ENTHUSIASTIC ABOUT 1T
Real. Estate Dealers Believe Their Most
Prosperous Year Is Here.
Sources from Which the City Draws Its
Strength-Causss of the Great Influx :
of Home Seekers

There 10 no use," said Mr.. NJ. E. VInton.
q prominent real-estats dealer of this city.
yesterday, ito hide the fact that there Is
an unusual demand for property in this
city. such Q demand that / am not the first
one to ask myself the question. where
does it come fromF 1t 10 positively no
less than marvellous, when the fact is re-
membered that. with hardly an exception.
property 10 sold to those who desire to
build their homes or business houses upon
it. Then the question naturally arises.
where 90 all these people come from. and
the solution is about as Col. Oran Perry,
the local freight agent of the r.. C.' C.@
st. L. railway, makes it. Mr.. Perry looks
after tonnage, freight bills, etc., OF that
company and Is In q position to know about
the demands of the manufacturers OF this
city. While chatting to him one evening l
mentioned this real estate feature and he
began to tell me how to account for IL,
mentioning one factory after another
which is located in this city. of which l
knew nothing.
For instance said he, do you know
there is q company-or factory-ln this
WY hoI 400 AoSN1s
heard of it. Then followed q list of no less
than twenty factories of different kinds,
equally as strange to me. that were nestled
here and there on the outskirts. Well. one
OF these business houses Is perhaps a little
affair for q time. but the next time you see
n. it has grown, and employs sixty or
seventy men, who at once set about buying
homes; and this is one of the sections from
which the demand for property comes.
Thus the population of the city is
rapidly growing. and is taken no notice OF
by many. Rents are up everywhere and
houses are hard to get at reasonable rates.
There are lots of people paying as much as
S55 to 500 q month rent. Mr.. Rob Inc
who is building q double house On the site
of the old Fourth Church. has rented it for
S65 . side before it is completed. This Is
sim ply given as an instance of the demand
which is continually growing. The ab'
sence of speculative demand is certainly
Indicative of the health of the market"
MIR. G. A. Booking is another gentleman
of tho trade who Is full of enthusiasm ior
Indianapolis property and prospects.
Now. of course said he, inside property
is something of . chestnut. as a matter OF
news, yet it is always well to bear in mind
proudly it's stability and increasing value.
This city profits from every source. Nat
ural gas has spread the city In every direc-
ton. New additions were necessary.
Why. last year l helped to lay out an addi-
ton, Highland Place, and now no less
than seventy-six houses are standing upon
il. occupied, with hardly On exception,
by newcomers. Ten travelling men are
!. quartered there for life. A few years ago
! but now they have all the business In this
: State that they can. attend to. Some
I. time ago Albany, on the l.. h. & w.
! was plated. Nj. b. Wilson. T.. G.. Foster,
F; N. I. Dalton. j. W.. Hoffman. ii. c. Parker
J and myself began locating factories al that
I place, and the lots went like hot cakes.
z Several firms nave decided to locate there,
: and two have also decided to open their
J main office in this city. Thus indianapolis
J gets a benefit from every move made.
! Reagan Park Is coming to be III the swln.
7 Already five houses costing from $1,000 to
/. sc, 600 have been built there by home-seek-
7! ers."
+: The Byrsm Land Company has Dur,
! chased 16S lots in Briahtwood and eight
! new houses are building. This company
; is combining with BrightwOod citizens to
|: raise the necessary funds to get the street
. railway mpan to run an electric line IL
! that su burb.
J Mr.. Charles Bookwalter. who Is one o.
! the enterprising young men In the busl-
: ness, claims this coming year to be the best
, ever experienced in the real estate world
!! Talk about booms,' said he. People who
! Witty the business activity in this city In
J such q manner deserve q real boom and al
J the depression such an uDconstitutional
Z plague incurs. No; everything Is all right
I. There is no speculation among lot buyc rs.