The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-07-21
REAL ESTATE MARKET
AN UNUSUAL CONDITION NOTICED BY
THE DEALERS.
Some of Them Report Good Bust
ness, While others Are Not So
Fortunate-The Transfers.

business property. In the last six months
there has been but one. business prop
eTty deal OF any consequence, and 1t Is safe
10 say that not more than half dozen OF
the few business deals were considerations
OF more than 5000 This is easily eX-
planned. Persons owning business property
do not want 10 sell Capital Is anxious
for investment in the business district Of
the city. but without market 1t IS help
less. Much bargaining mas and IS being
done. but 10 no result. The prices asked
for business properties are 50 high thaS
they are beyond reach OF investors, and
In many instances the prices named are
exorbitant and beyond consideration for
safe investment.
Generally speaking It may be said that
the real-estate business is now almost ex-
clusively confined to residence localities ana
prospective suburbs From almost every
quarter of the city there is a reaching out
for residence lots. Additions have been
tackled on 10 the corpOrated limits of the
city and plated into lots until the cIty
proper Is large enough TO comfortably dc-
cOmmOdate twice its present number OF
Inhabitants. For several years this ex-
pansiOn has been going on almost without
perception. and the present indications are
that the city will continue to expand iOr
some time 10 come. So long as interest
httpo uD III TIE pidlll1S OI lew
they VIII be plated. and so long as pur-
chasers can be found for this class of
property the real-estate men will provide
market.
Particularly 10 the north has the city
extended until lots are Tow for sale far
out as fifty squares. The remarkable fea-
ture Of this expansion Is the fact that prices
have steadily been on the increase and the
owners Of lots from Thrtieth street on out
TO the limit have doubled and tripled their
investments in the last five years. Any
number OF property owners who came In
possession of lots in this locality now figure
their profit az 100 per cent What keeps
prices on tho increase few real-estate men
are able TO explain other than that people
want TO buy. While this is true regarding
outlying lots IL is noticeable feature that
property more centrally located has not
increased in value at anything like a CORE
spending rate and much of IL has remained
little more than stable. 1t seems TO be the
erty TO get out of town, and those fOrtu-
nate enough TO be the original owners or
early purchasers have made easy money.
Still another fact In connection with
suburban real estate is that houses are not
being built to correspond 10 the real-estate
market One reason 70: this is said To be
because the street-car lines have not been
extended far enough and into the right
directions 10 make the city accessible. 1t
Is pedicted that when lines are extended
into the heart OF these localities building
VIII begin and live suburbs will soon spring
up This Is why. IL is said. persons owning
SUCH real estate wish TO hold it or will not
paid.
Butler University has purchased ten lots
Immediately east of the campus of the Col
lett heirs, through the agency of Cross &
Brown. and will convert the plot into a
beautiful and enlarged campus, or park
The consideration was $500. The lots are
located between the university and the
Bona Thompson library. and make a very
a fnr
which they will be used The real estate
f1rm says this sets at rest all talk of Butler
University being moved away from Irving
ton. There has been much talk about the
university being removed. and 1t is said that
this purchase Will insure the tenure of the
least. I 0" iO' many years 10 come at
A new member has been added to the firm
of r. p. Dhggett & Co He is p. s. Dag
gett. who graduated last June from the
Fine Art School of Paris. and is a son of
has been In the paris scbooI fo Mr Dasgea d
one-half years and has made artistic archi-
tectural designing a speciality.
XXX
Urban r. Weaver last week sold to John
+. Wood a house and lot on Talbot ave-
nue.. near Twenty-fourth street for s.. 700
The lot is 10 by 1892 feet and is assessed
at $500. the improvements at $3.50
Aaron III. Blair has purchased of Richard
+. Bigger a property on Virginia avenue
near McCarty street. for 50. 500 The lot has
a frontage OF 52.04 feet on Virginia avenue
and is 40 feet deep. The improvements on
the lot are assessed at s275 and the real es-
William Ward has sold to Mary Ann
johnson house and lot on West street
near St. Clair. for 5000 The lot has a
frontage of 40 feet and depth of 1856 feet
Inc improvements are assessed at S725 and
the lot at $l,zOO
Rose l.. Ciaybourne last week transferred
her property on New Jersey street. near
Eighteenth street TO Henry C. Jackson for
a consideration OF $500. The lot has a
frontage OF 40 feet and Is 80 feet deep The
improven ents are assessed at 81 100 and the
lot at S,eOO.
Robert o. Alexander last week purchased
of Richard Ryse for $4,000 house and lot
at the corner of New Jersey and Sixteenth
streets. The lot has a frontage on New
Jersey street Of Is feet and is 80 feet deep
The improvements are appraised at $50
and the lot at 1850
Sterling r. Holt has sold an East Wash
ington-street property. near Pine street. IL
Oscar F. Mann for $500 The lot is o by
1871 feet. and II assessed at 81. l25
Henry G. Binker has purchased of Sarah
M Johnson a residence property on Tai
bott avenue, near Twenty-third street. for
5000 The lot Is 404 by l409S feet and is
assessed at 500 The improvements are APP
praised at Sl.1o0.
Ray l. Switzerland. last week. sold to c.
Bird King three lots on St Clair street.
near California street. for 5000 The lots
are 90 by 10 feet. and. together are as
sessed at 81 SEQ. There are improvements
on the lots assessed at $3.50.
Thomas F. CoOney. last week. purchased
of Henry J. Budenz ten lots in the ex-
IRENE southeast part OF the city located on
Hamburg street near Raymond street. and
on the New Bethel road. for s. 10
A North Meridian-street property To-
Gated near Twenty-second street. was last
week sold by John L. Benedict 10 Emma b.
Foulk for s. 500. The lot has a frontage OF
A. feet on Meridian street and Is 126 - feet
deep. The improvements are assessed at
s3.150 and the lot at sos.
Elisha II. Hail. for the consideration OF
5000 last week was decided house and lot
on College avenue. near Nineteenth street.
by Frank J. Christie The lot Is f. by 134
feet and is assessed at Sl.Z15; the improve
ments at Sl.525.
r-boro.e A Morris hos tronefar-oa a raSg