The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-16
REAL ESTATE DOING WELL
Big Deal in Lots in the Bruce-Baker
Addition Practically Closed.
Another Bank FURRY Would Set Everybody
investing in G~round-VariOus
Notes Among the Dealers.

For 3 long time the big deal concerning
the exchange of 143 lots in the Bruce-Baker
addition, has heen silently working and at
last is in a fair position to go through. The
contract has been made, the money. $4,000.
is ready. and all that is wanted to make
the zeal go is q good, clear title to the prop
erty. which will be had soon. These lots
belonged to the Phoenix Life Insurance
Company, who took them on a mortgage
Judgment. Messrs. Horace Smith. Nose
Nolan. John II. Pearson and raxto
Baker constitute the syndicate who are
making the purchase. intending TO improve
the streets. asphalt the sidewalks. supply
the lots with water and gas and sell them
again. -
Since the hum of the trolley Is heard on
the wire down Virginia avenue. things are
working on the South Side. Where once
the weary mule swished through mud and
mire at the persuasion of an irate driver,
the mot0rman looks stOlldly ahead and,
pressing the button. as it were. slips along
like the north wind with q trailer TO which
people simply hang on by the teeth, and
now a man who lives on this thoroughfare
or near it can get home in time for supper.
Meals can be taken with much more regu-
larity on the South Side since the long
looked for and earnestly prayed for cleo
trio cars are on their tracks.
-
At 6 o'clock on the morning of the 18th of
May the jackson Park syndicate will run
an excursion to Anderson. Free transpOr-
tatIon will be given all who own lots or
who buy them In Jackson Park. at Ander-
son. Those who buy q ticket costing 81
will be refunded the money in case they
make q purchase.
Six lots averaging 1850 each, in Morton
Place. were sold last week.
There is little of great interest that can
be said about the market that has not al
ready been noted. The little financial
fright which seemed to pass over the city
tor q brief moment did not and has not
seemed TO either help or hurt 1t IN any Wis.,
ible manner as yet. Ii was predicted at once
by q number of people that q bank scare
would ut once react on the real-estate mar
ket and make business brisk. This has
not been the case. perhaps because the
suspension of the Capital National did not
affect the confidence entertained in other
banks.
1t seems to be the very universal belief
among resl-estate men that q real, life
sized money scare would precipitate q
great rush for real estate In this city, as it
is gilt ed ge and can always be realized on.
While money IN almost any sum is consid-
cred safe when invested in Indianapolis
business or residence property. IL is also
considered just as safe In the bank vaults
of the city. -
In Hamilton. o., any kind of good proper
ty costs from $50 to SIS a front foot; Deca-
tur property we'll situated, $50 to So. and in
New Albany on best streets good locations
on residence streets. lots are worth S50a
foot Good residence property here OF q
relative location can be bought for the
same money. Sales on Alabama. Broad
way and similar streets verify this state
ment. And yet some people think proper
tv Is high in this city, and some believe
there is q boom on because property sells
well. -
Mr.. /. N. Richie stated yesterday that he
drove thirty miles through and about this
city the other day ana only saw five
houses for rent. Mr.. Richie has concluded
TO drop the rental business in connection
with his good real estate trade, if some are
not soon vacated. -
Mr.. /. n. Richie has sold thirty eight
lots In Mesdland during the last thirty
days and besides this. in the last ten days.
six pieces of property to people moving into
the city. all strangers.
Geo. A. Boeckling Il Co. are sellInGa great
many lots in North and West Indianapolis,
and are driving the Brightwood syndicate
lots through successfully.
Mr.. BoeckliDg, who Is president of the
Albany Land Company, just closed q deal
OF sixty lots in Albany. for Sl5. 600 cash. yes
terday. with q contract that the purchas-
ers are to Immediately build sixty houses.
This Albany Land Company has located II
number of industries there that will need
about 200 houses for the laborers within
the next six months. This company is
meeting with unprecedented success.
MIR. Booking and John Hoffman own
q number of lots on Eureka anc Keystone
avenues, east of Woodruff Place, and have
about completed arrangements to supply
them with gas, which will add to their
value. They have built O number of houses
recently on this property and will build a
number more this coming summer.