The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-11
Realty in Minneapolis

Realty in Minneapolis
Premonitory symptoms of a summer of
activity in real estate are on every hand.
Inquiries in regard to property are FREE
quent. Not for years has the business
opened up so early In Minneapolis. Yet
transfers up to the first Saturday in
January were not numerous Though the
deeds placed on file We're very numerous,
the activity was only fictitious. The in
lt1ated We're able to point, out scores of
papers which represented transfers made
SIX months or more ago. The seller was
anxious to avoid the taxes and Saturday
was the last day in which to shift the bur-
den TO the purchasers shoulders
IN ADDITION to a great many deeds which
were filed making over individual prop
efty TO two real estate companies just
FORMED, instruments. to considerable
number We're registered showing that at
least two investors had been making hay
in due time by purchasing tracts Of cheap
property with a probably good future.
ne J,ourna / pointed tut the fact
last summer that two capitalists of the
city were due to realize on@their faith in
minneapolis, which at that time seemed
TOO rosy to the average man. To this
number has been added a third gentleman
VINO has made considerable purchase of
Flour City National bank property, much
OF IT IN Oak Park and north of Henne-
PIN. A certain manufacturing firm has
also been buying heavily. 1T is not nee
essaryessary to verify the above men
toned prediction referred to-, but if two
or three particular sales recently made
were cited 1t could be shown that from
$5,O00 to $4,000 was made on each in less
A. Si,oon fIo fpe,t
one down town block has sold twice at a
handsome gain say Of $6,50O. T.
Business of a. Week.
The books of the register of deeds do
not yet show the movement in real estate.
put deals which have been in progress since
the fall are being closed every day. At
least five which will average $50 900 are
on tapis T h Q Journal S announce
ments Tor the present week will show the
trend OF the market. On Monday the pur-
chase OF the Wheaton Reynolds plant hy
). L. ElWell, through T. A. Jameson, for
a furniture factory ard the purchase of
the former W. K Morrison building by
Jonn X: Wetherby, on Tuesday, the pur-
Brothers by the Electric Machinery com
pany, and the proposed development of St.
Antnony Park property across the city
line py Minneapolis men who have bust
ness IN Minneapolis; on Wednesday the
purchase OF trackage by the Deere Web
per company, the sale Of the Harmonic
building on Third street, the purchase OF
e - docks running from Eighth avenue
between Fourth and Fifth to the Mil
waukee right of way and the contemplated
purchase of the St. James hotel site for 3
Mills hotel. 7
Ihese sales mean much more than the
amount which was paid for the land TIL.
ElWell property will be run as a manu-
factnrlng plant by a furniture company
winch Will employ many hands The Elec
trio Machinery company will expend mucl
| money. The other deals mentioned mea1
the expenditure of large sums.
Activity In Factory Properties.
A feature of the market this week i
! the fact that while short time ago /
was impossible to find buildings alread,
erected for the manufacturing industrie!
which seek admission to the CITY or ,
change to larger quarters. When Mr.
ElWell purchased the sash and door fac
tory this week he shut out the twt
other companies which were figuring O,
the plant. A big concern is looking fo1
$4,000 fete of floor space ready for occu
pancy. The scarcity of ready made fac
tories will of course induce further build
Ing If the management o fthese concern.
worse In some other city.
1t IS impossible to make plain the pend
ing activity in manufacturing circles a.
affecting real estate and building circles
without delayingsithe closing of deals b,
prema ture publication. Funny stories ar,
told in connection with the supposed Bur
/ lington, CedaraRapids & Northern pur
chaseS in SOuthtown. When it developed
by the premature exposure of the prog
ress Of the, deal that it was probable tina
Mr.. sBenner was working for a right o
way for the road, several who had solt
at reasonable price are said to- hay,
lost flesh to think that they had not de
manded the price limit. s-...s%. =
In several instances recently holders O
city property who have weathered the
financial storm, carrying heavy load O
lots, have been severely upbraided as de-
laying the prosperity of the city because
they ask a small sum in addition to tn.
accumulated taxes and interest as a sor
of commission to themselves for clever
ness in escaping the undertow which car
| ried many to disaster.
Trackage Property in Demand.
Trackage property Is very strong now
Unless comparatively worthless on &C
count of being inaccessible, it is probabl,
that nearly every foot of it in town hal
been looked over by some investor o.
would-be buyer.
Residence lots have not moved very
rapidly of late, but inquiry as to prices
and terms is in excess of last year. The
market in this line is opening early.
B1afsdell Addition Popular.
Aside from sales to investors the Blais.
dell addition has led with homeseekers
sales Walter l.. Badger has just closed
a bargain with Edison s.. Woodwork, an6
is negotiating three or four Ot her mat.
tors, which will eliminate soon. Mr.
Woodwotrh paid Mr.. Badger $4,000 for two
lots number 2 and 3, block 2, Dayton'e
subdivision of J.. T. ,B1aisdell's Revised
on Pillsbury avenue. Each lot is 60 by 16s
feet. Mr.. Woodwork intends to build 8
home. There are nine full blocks in this
Dayton tract, which Mr.. Badger controls
Twenty-Five lots were sold last season II
this section, and ten houses, ranging
from $4,000 to $4,000 in cost, are under
way of being planned. Mr.. Dayton will
this spring erect two houses for sale al
about $4,000 each. Thomas Walston has