The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-04-02
AW AKENING IS HERE
Looked-for Acceleration in Real Es-
tate Is Realized
IN SEVERAL VERY LARGE DEALS
more or such Transactions Are Sure
to Follow-Mtlch Quiet
Buying.


If any real estate manfif1 the city is not
having GOOD business he is not in the
SWIM, that's all. If business is not good
what accounts for the fact that General
| Grant, :! Is. Gleason, T. j. Hassett and
such men are opening real estate offices.
Nearly every office building in the city
mas one or two new names under the real
estate mead on the directory. The dearth
or suitable office rooms is the only thing
tthat binders others from hanging out
|shingles.
!, 1t is not a real estate boom which in
ouces mensto take u9 again line of
business which they have not followed for
years, or which is entirely new to them.
Inc trade in medium priced houses and
lots, or vacant lots on. which homes are
to be built: is sufficient TO keep all busy.
The satisfied look on the face of the aver
age real estate man is good sign. The
round Of the offices, which The j on r.
l man makes every week, shows uni
versal satisfaction in the, firm tone of the
market. Nothing more could be asked,
except that some larger properties might
move. 49,
Awakening Comes.
Az awakening did come in the market
the cast week. A change had been pre-
dicted so long that timid ones were be-
ginning TO believe that there was no ba-
sis of truth for the constant refrain that
real estate was going to move. The pub
lie does not realize, perhaps, how many
plans are on foot. The lease of the
Bank of Commerce building and that of
the corner. Of Nicollet and Eleventh ad-
joining the former residence of the Meth
odist bishops, were eye-oDeners, empha-
sized by the plan for a family hotel on
the Harrison property at Eleventh and
Nicollet, which is becoming too expensive
to hold for. family residence.
Deals of like nature will come to the
surface right along through the season
unless the unforeseen happens, or holders
of valuable property hug it too long in
anticipation of better prices. This atti
tude has croved a bad thing for the city
in the past, forcing business development
to seek different localities from those
naturally attractive and delaying prog
ress generally. 1t takes good deal of
public spirit, it is true, for an owner get
ting some $4,000 annually from the rental
Of a lot to submit to a sale or to a long
lease to some capitalist who will i'm
prove by improvements that will benefit
the city and ultimately increase the reve-
nue. of that particular property and what
adjoins.
Much Quiet Buying.
Any amount of quiet buyingtis going on
in the city. Brokers are picking up prop
erty all around, especially outside lots.
one of them said this week that at the pres
ent moment he would like to have about
$4,000 to invest. ,4He did not care much
about options .on,5business- property, but
for residence lots. 1t is a fact that these
are the men who are going to make the
money, and the timid ones will awake
some day to find the wisdom displayed by
these foresighted individuals in buying
early
The unfortunate feature of themarketis
that so many fasteners who hold prop
erty here take it for granted that every
thing is going up and that property is
selling like wildfire. They have waited
SO long for this that now when an advance
has actually taken place. they conclude to
hold still longer, and thus they block
trades, perhaps to their own detriment.
So many Of the Minneapolis real estate
men who are loyal to the city's interests
have gone east and talked better times
that attention is directed to the city.
It is remarka BILE how these people will
knock Minneapolis and bemoan their
holdings out here as being dead loss,
when they have lost more right
Tat home in: real estate speculation.
Real estate deals. that have prom
Used much fall just as fat in
the east as they do in the west, yet the
blame has been placed on cities like Min
neapolis, the, bursted bubbles at home
seem to be forgotten or are at least not
mentioned. II 80