The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-08-28
REALTY IS LOOKING UP
SALES ARE BEGINNING TO
SHOW AN INCREASE

Tho Most Opportune Time for In
| vesting st. Paul Has Seen Is Said
to Be the Present-GoIden Rule
1ishment and Improve a Corner
of Robert and Eighth Streets.
| The realty sales in ST. Paul are be-
coming more numerous, and, while
| each and all of the dealers in dirt"
| deny that there is anything like a real
estate boom in sight. the unanimous
sentiment is that there Is an increas-
Ing demand for unimproved property.
The agents who deal in property were
the first to feel the effects Of the finan-
cial depression, and for the past two
| or three years 1t has been almost i'm
possible to dispose of anything even at
the low figures offered.
Within the last sixty days there has
| been g. noticeable awakening. so far as
the local realty market is concerned,
and, although the sales made are not
large as to amounts. there has been
sufflc1ent of them to make a very re-
spectacle showing, and hold out hopes
for the future.
Property in st. Paul has been and
IS at the lowest possible figure, but the
indications are that the market is now
a buying rather than a selling one,
and that within a short time there
Will be an advance in prices
Agents who a year ago could get no
one even to talk realty now report that
there are numbers of purchasers MAX
Ing inquiries, and a large number of
buyers The transactions are all in
the four figures, and, as rule, the
terms are cash, the giving back Of a
mortgage being the exception. The
desire to invest in real estate, the deaf
ers say, is for many reasons. The low
rate of interest paid by the banks on
time deposits, and there being nothing
in mortgages, being the reasons ad-
vanced for the investment in property.
The increased sales to small buyers.
who are looking for property on which
to erect homes, and the inquiries from
this class of purchasers, is particularly
noticeable.
During the past week E. F. Berris-
ford, who secured a twenty-five-foot
near Eighth at a sale of the Mintzer
property, purchased the lot at the
southwest corner of Eighth and Rob
ert streets. The tract secured and COLI
trolled by Mr.. Berrisford being 125
feet on Robert street and $50 feet on
Eighth street, has been leased to w.
H. Elsinger & Co, of the Golden Rule
and will be improved and made part
of the extensive store Of the firm.
One of the members of the firm seen
yesterday said the plans for the new
addition to the store would be pre-
pared by Architect Bassford as soon
as possible, and that two-srory
structure would be put up possibly
this fall.
The addition would cover the entire
tract, and would be of modern con-
struction in all that the term implied
1t would be built of pressed brick with
stone trimmings, and on the Robert
and Eighth street fronts would be en-
tirely Of plate glass. AS to the estt-
mated cost of the Improvement. it
would be impossible to say until the
plans had been submitted.
This improvement will add greatly
to the appearance Of the street in the
vicinity, and, aside from the benefit
to the property in the neighborhood
will make the Golden Rule the largest
store of its kind in the Northwest, and
a close second to the extensive estab-
lishments in the same line in Chicago.
H S. Fairchild, one Of the oldest real
est ate dealers in the city. stated yes
terday that the movement in realty was
owing to the Indications of prosperity
being so obvious that those who had
money to invest could not but realize
that the time had come to put out their
money. Prices were as low as they
ever would be. and for those who de-
sired an investment for their money,
better than paid by the banks, there
was plenty of improved property
which could be secured at reasonable
figures. For the class who were look
Ing for unimprovei lots for homes
there was also a chance to secure at
the present time property which would
within year cost double the
figures 1T was now held at. That there
would be an advance in prices, Mr..
FaIrchild said must result from the
n1lGnerou improvement being made in
the building of residence and business
bic cke throughout the city. Everything,
he said, pointed to new start forward,
| and while he predicted TO boom or
fancy prices for property, better figures
would be secured in the near future.
Val Rothschild, of the firm of H e
v j. Rothschild, said there was no
BOOM but plenty Of inquiries and num-
erous sales. nearly all to small in
vestors. The sales were for cash and
mortgages were rare. The sales were
not confined to any one part of the
I
Eland for West side property. The
proposed widening of the Wabasha
street bridge, Mr.. Rothschid said,
would be Of great value to West side
property. and also to this side of the
river. The knocking out Of the Broad
way bridge and the widening of the
Wabasha street structure to uniform
width all the way across, would be
the best thing that could happen and
do a world of good to the West side
property owners and business men.
H. H. Hoyt reports an increased de-
mand for residence property, and sew
eral sales during the past week In
two instances sales were made at an
advance in the listed price of the prop
erty, the purchasers standing the raise
without making any objections. A de-
cided Improvement In the demand for
lots for those anxious to secure homes
was noticed as vel as for the purchase
of medium priced houses,
j. w. Shepard said he had more de-
pands for unimproved lots in the last
thirty days than In the past two years
The demands for rentals in the way of
small houses, at $25 ard under, was
greater than in the past five years, and
the renting season had not fully COM
menced. Lots which We're offered a
year ago ait $3.50 were now held at an
advance Of from $50 to s100. The time
had passed when property could be Sc
cured for little or nothing, and the in
quiries for both unimproved and i'm
proved property Indicated that better
times were coming.
To Investors and Parties Wanting Homes.