The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-03-09
THE MARKET Is ACTIVE
BIG PROFITS IN NORTH MERIDIAN-
STREET REAL ESTATE.
W. 4. StevensOn's Profitable Invest
ment->ales OF the Week-BufId-
ing Operations in Cities

There seems TO be no doubt in the minds
Of real-estate men that Meridian Heights.
taking ia nearly all of the property along
North Meridian street above Fall creek.
s. the coming suburban residence district
OF the wealthy citizens of Indianapolis.
There has been much interest In sales in
this part Of the city for the last three or
four years, and the way property has in
creased in value is phenomenal Some Of
the biggest profits made on real estate I'm
the city We're realized on Investments in
North MeTidian-street property in this dis
trict. The property now is gradually drift
ing out Of the hands Of real-estate men
into the hands of permanent purchasers
who contemplate building fine residences.
Several beautiful dwellings have already
been put up that are among the finest in
the city, and number of the present
property holders are planning to build
homes that will be almost palatiaI So far
the large lots have not been cut up into
small ones, the purpose being to furnish
broad grounds for residences.
Perhaps one OF the most profitable in
vestments ever made in property in this
locality was made by W. L. Stevenson.
About two years ago Mr.. Stevenson pur-
chased t6l feet fronting on Meridian street
and running back COO feet to Pennsylvania
street for $4,000 cash. He divided the
ground into seven lots with 100 feet 'front.'
age. leaving one sixty-one-foOt lot In
seventeen days he sold all Of them for an
aggregate consideration of S32500. his net
profit being $500 Yesterday his agency
sold one OF these One-hundred-foot lots.
belonging 10 W. @. Schneider, to Philip
Kiley for 5000. Mr. Schneider purchased
the lot through the same agency about
year a go for 5000, the profit on this one lot
which this lot sold the original 761 feet
purchased by Mr.. Stevenson for $4,000
about two years ago IS now worth over
$4,000, or has doubled in value
Xxx
The real-estate market closed with 165
transfers recorded, representing an aggre-
gate. consideration of SOS. 95O6S. The weeks
business was marked by a number of large
considerations and transfers Of property in
the business district. Small residence prop
erty continues 20 be IN demand and is very
saldbie. The demand for downtown BUSH
Is held so high that few sales follow The
tH6.te spring trade has been characterized
by large number of big deals.
Xxx
Susan A. Harvey yesterday sold TO Willis
Y. Hargrove her property on Glenn street
rear New York street for $4,000
John Z. Snow yesterday purchased of
John Moore a property on Drover street
near Morris street for $500. He also pur-
chased a property of Mr. Moore on Mime
sofa street near Ringgold avenue for $500.
Charles M. Carpenter has sold his prop
erty at the corner of English and Clyde
avenues TO NewberTy A. Marian for $4,000.
Xxx
Clyde r. Matthews has sold to William
4. Scott property on Twenty-eighth street
near Ethel street for $3.50.
Xxx
The Interstate Architect and Builder,
Cleveland. O.. will print the following in
its next issue:
Building statistics for February are ex-
ceedingly interesting for the reason that
they again show a decrease in the larger
cities. as compared with the correspond
ing month of 1901. New York, Phiiadel-
phia and st. Louis issued permits of less
estimated value. Chicago made a gain
by reason of the change I'm her building or
dinance. permitting the erection of build
ings over $50 feet high Half a dozen large
permits were issued Immediately after the
change. Practically the same cities that
made gains in percentage in January also
made them in February. as follows: