The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-01-12
MISUNDERSTANDING
ARCHITECTS ANTICIPATE A BRISK
BUSINESS IN THE SPRING.
Apartment Houses Have Not Detract-
ed Much from Other Rental
PrOperties-The Transfers.

The architects look for a brisk business
early in the spring and are already figuring
on work to be done when the building sea-
son opens. Lots are being bought by in
vestors and persons wishing to permanently
locate and many new residences are pro-
posed. Investment property is still the
leading feature the real-estate market
and the supply continues to be short OF the
demand. Small properties that rent readily
are the most desirable. while double houses
also quickly disposed of. The apart
ment-house question, about which there
have been all sorts of theories and pessimis-
tic predictions as to what would become of
the residence rental property when the
modern way of living was once thoroughly
established, is no longer a bugbear to real
estate men. Apartment houses have now
become permanently established in Indian
apolis and nothing serious has happened to
single or double residence houses. In some
instances the rents of outlying residences
have been reduced by removals to flats in
the downtown district, but outside of this
particular class. rents have remained at
stable figures. Even the price of flats has
been reduced so that the decrease is about
the same in proportion, allowing the tenant
TO have the advantage of cheaper rent than
ever before with a choice between flats and
houses
The fact that the apartment houses have
been filled as fast. as they are completed
with no sign of depopulation in the resi-
dence districts is the clearest indication
that new families are moving to the city.
This alone has been the stay of rental prices
N 10 Ia he nd had raf
been for the influx of a foreign population
those holding property for rentals would
have found themselves wanting profit
that could not be realized.
The apartment houses are now nearly all
full, but real-estate men and rental agents
are looking 10 the coming Of spring with
uneaslneSS. In the summer people usually
want yards and lawns, especially when
they have children, and as soon as winter
breaks 1t is anticipated that rush will be
made TO get out of flats great it was
TO get into them at the beginning of winter.
The modern equipment and heat of flats
offer economic inducements in the winter
time, but when these necessities are over
come by the warmer months rental agents
expect difficulty in holding fiat tenants. For
this reason it is desirable on the part of
landlords and agents to secure contracts
for one year for flats in order that they
may be sure of keeping them filled.
Xxx
One of the best indications that the peo-
pie have more money at hand than for a
long time is shown by comparing the num-
Der of mortgages with the number of re-
leases. Last week there were ninety-one
releases. aggregating 1,034, against sixty
seven mortgages with an aggregate of but
s5S027.45. When the number of releases
overbalances the mortgages IL is considered
that people have a little money to spare
XXX
Aquilla O. Jones yesterday sold his ten
room residence on North Illinois street,
near Nineteenth street. to Arthur S. Fos-
dyke for $4,000. In exchange Mr.. Fosdyke
transferred his property on East Washing
ton street, near Liberty street, to Mr.. Jones
for 200.
Edward l.. Sewage has transferred to o.
G. Wilcox property on North New Jersey
street, near Twentieth street. for $500. and
in the deal received from Mr.. Wilcox his
property on North Senate avenue, near
Eleventh street, for consideration of $500.
John b. Schramm has decided his property
on North New Jersey street. near Eleventh
street, to John ~ G. Schramm for 81. 800
Harris Cohen has purchased of James N.
Parker a residence property on South Illi-
nois street, near McCarty, for $500.