The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-05-20
MARKET FOR REAL ESTATE
Not So Lively This Week as Last, bat
Still Doing Very Well.
Unusually Heavy Demand for Improved
Property - Talks with Number
Of the Dealers in Lots.

Among some real-estate men this week
has not been so busy as was last. When
ever trade drops down a notch there are q
number of reasons ascribed and at times
thevariety of reasons expounded is marvel
Gus. Now" said q gentlemen of the trade
yesterday. this week has been slow and
Pil tell you why. Cheaper labor is COM
handing such price dwelling builders
will not purchase lots. The contractor is
forced, in figuring on house, to note the
increase of the price of lumber, which is
bad enough. but on top of this he mus.
figure on strikes to save himself and when
the aggregates are fixed the builder is
scared ont and well he might be. / know
of two instances on North Pennsylvania
street. near Seventh, where this con-
dition of affairs knocked out two sales"
Mr.. Chas. Bookwalter said yesterday:
"Unimproved property In pioneer additions
sells slowly but the inquiry for lots on
which houses are already built is vigorous.
Our weIl-paid mechanics and clerks want
TO buy homes where they can move imme-
diately and stop rents. i made four sales
of Just such q nature this week. know
goes freely when pnt upon the market"
decided move In any one direction is
seldom noted in the field of real-estate deal
ings. Unlike commercial transactions. 1t
generally assumes o rather monoronous
sameness. with the exception of an ocoa-
slonai symptom of increased life OF decline.
OF course in saying this boom times are not
considered. as such unwbolesoms condi-
tiOns have fortunately never Affected the
market in this city. Just at the present
time. however, there is rush by differ
ent class of purchasers from the usual to-
ward the land lying north of Fall creek.
where lots of from two to tive acres are
taken and magnificent S. 600 to $40. 600 resi-
dences are being putuI o will be put up in
the near future. This is that the residences
may be surrounded by splendid grounds
and made parks, while the street-car con-
venIences will be available and ali that is
desired by those locating there.
Mr.. George Powell has purchased four
acres of the Hanway property on Central
avenue bey ond the creek, and will build q
residence costing $500. DR.. Eastman has
bought five acres of j. w. Hadley, in WASH
Ington Park. fronting east on Washington
boulevard. north of Thirtieth street, and
North of Twenty-fourth street, on North
Illinois street. William Manson has pur-
chased two acres and will build at q cost of
$1,000. The average price paid for all these
properties is q, 200 an acre. which goes to
show how the trend of the city has made
valuable land even that far out
. 1t is only necessary for Broad Ripple
street railway to be laid. for vast
tract of most desirable property toward
the northeast. to be opened up to the great
Do, nd for artx of 20 ind ho
proper street car facilities. The men of the
street believe that such q line must, of
necessity, be put down soon or late as the
property and people will demand it. not
withstanding the number of paralyzed
efforts that have heretofore been made
in that direction. 1t is hard to crush faith
and hope out of HIM. as the tribe of real
estate men go.
Six new houses have been built lately in
Douglas Park and fifteen nearIt
1t seems there is some reason to believe
the new Odd Fellows home will be located
on ThT.y-fourth street, near Columbia
Place, and some consequent sales are ex-
pected to be made in that vicinity.
Some elegant homes are being built In
Atkins IL Perkins's University Place,
north of Twenty-fourth street, between
PenDsy lvania street and Central avenue.
All in AL 40 houses have been built across
the creek during the past year, IL Is stated,
and tifty-nine alone IN kenwOOd Place.
The foundation il being laid for the
Turner's new hall at Massachusetts, avenue
and New Jersey street. which Is one of the
largest ever put down in this city SO far out.
A handsome new block is just finished on
Massachusetts, avenue, inst west of Noble
street.
At College avenue and Sixteenth street
MT Shower. the contractor, Is building q
magnificent $4,000 residence.
On several streets south of Fall creek the
street grades are being raised, which
causes the bases of dwelling houses to be
lower than the street. While this is very
probably the exact and proper thing for the
infallible Board of Public Works to do il
will give great many PEOPLE q deal OF
trouble raising their houses to the new