The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-02-08

Realty in Minneapolis

aN1OlIy Ill VllNIlRdklOllS
Interest this week has centered chiefly in
building. The usual sales of small prop
critics to home seekers have continued to
increase. There have been no large deals
for the last six days.
Several prominent real estate men are
leaving the city for a time, to obtain
needed rest, to investigate conditions in
other cities, and to transact business in
other towns for clients.
During the week the Wabash Screen
Door company, which came to Minneapo-
lis in December, added a branch to it's
factory; the Luger Furniture company de-
cided to increase it's capacity by a $25, 900
addition; the Burlington road announced
it's plans for the site purchased at Eighth
avenue S and Fourth street.
Architects and builders are planning for
heavy work in the spring. While resi-
dences will be erected as in the past, it
is evident that factories, warehouses and
office buildings are to increase in number.
Architect Fred KEGS, who has been on
tour of investigation, including promin-
ent cities Of the country, returns firmly
convinced that Minneapolis stands
especially well in architecture except in
its theaters. He went primarily to study
department store fixtures. Such trips as
these by architects, builders and real es-
tate men convince those who make them
that Minneapolis is not half bad after all.
Sometimes feeling of dissatisfaction
creeps over individuals; they become con-
WINGED that Minneapolis is far behind in
values and improvements. Glowing re-
ports of what eastern and western people
think Of this city do not have half the
effect, however, of personal visit.
Lowell A. Lamoreaux, the architect,
calls attention to the fact that the build
ing record for the last year exceeds all
previous years records, except that for
were taken out at a higher estimate than
| warranted. This alone should show Min
| neapolitans who do not travel that Min
! neapolis is all right. Minneapolis stood
| seventh in the building list for last year
! Mr. Lamoreaux believes that 1902 bids
| fair to bring Minneapolis nearer the heac
of the column This is supported by the
fact that architects have much work ahea(
| already.
| Fine Residences to Go Up.
Fine residences will become feature o
| the coming years construction work
Large warehouses and new factories will
| add to the city's businesslike and pros
! porous appearance.
! A detriment to new city's appearance
| in these days of rapid changes is the FAC
that buildings become old quicker thai
in older towns. No sooner is a fine build
ing put up than some one plans bette
one. The result is that tenants NOV
from the old to the new. Fire comes II
occasionally and makes possible the re
modelling of buildings. The conf1agratlo]
of yesterday insures a fine new Dulldln
in the heart of the city.
! The fire fastened changes that Wer
being planned by Regain Brothers, The
were considering the complete aLterat1o
of their front and restaurant room IN tn
| Vendome block The cutting OF tn
1 building gives a wider opportunity t
make radical changes at less expens
than contemplated.
4 Fire is not without it's blessings.
will be remembered that the destructlo
of the Hennepin block by the fiery ele
ment some two years ago resulted l
turning a building almost worthless fro1
an income point Of view into two valu
able, profit-making structures. Fire
force upon the owner of building ex
|ecution of plans which are frequently dill
dallied over for months. Furthermore
the insurance furnishes ready money, tn
want of which is sometimes grea
stumbling block.
More Flats Promised.
The prospective erection Of nutnerou
fiat buildings this spring raises a seriou
question as to whether they are a goo
thing for the town or not. It was be
lieved last year, when plans were an
nounced in the spring for the buildin
of several fiat and apartment building
that the market was being overdone. ES
perience proved the prediction wrong fo
, the present at least. Many are living
flats this winter who never have befor
They like the easy life and will rent agai
in the fall when the exodus from tt
lake begins. 1t is nevertheless felt
, be fact that from some points of vie
the entrance of a fat building into
. neighborhood in time has depreciati1
, effect by lowering the value of fine res
: dences adjoining. One reason for this
that fiat tenants migrate. After tN
) years in one building they seek chang
! Although the flats of two years ago WEI
thoroughly modern, they are not so tt
day, so rapid are the advances in arch
lecture and equipment. This migrate
results along with the depreciation
the building, in the occupancy by
cheaper grade of tenants, which neceI
, sarily has a reflex tendency upon tt
neighborhood. The owners of the fiji
residences in the Immediate vicinity sci
move to the latest new residence distric
and their former mansions are turne
into boarding houses, which go throue
various stages \of depreciation along wit
3 the neighborhood. This has been the e.
3 perience. in some districts at least
Another feature of the city's growth
, the fiat line is the erection Of cheap fl
buildings beside structures which ha'
been built at great expense. A certa
class of we'll built flats put up in Mil
, , neapolis hold their own for years, unit
along comes a cheap builder who puts 1
3 a magnificent looking building, but or
3 which within is full Of dead mems bone
from contractors standpoint. For tt
first two years the tenants are great
pleased with their new quarters. but the
the joints begin to separate, the floors
sag and the plaster to drop piece by piec
iAlcng with the general character Of II