The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-05-01
Beautiful Homes May Be Secured in Minneapolis at
Reasonable Cost.
|Unequaed Chances to Build for Investment Offered
to Capitalists.
Business Property and Apartments Return Large Per
centages Money Invested.

about in other cities, that have not even
the advantages that we have, 1t convlnces
us that our prices are exceedingly loW.s
The highest price ever paid for any MIN
neapolis business property was $4,000 per
front foot, and that was the building
which sold Governor Pillsbury last year.
"You are safe in making the statement
that all of our business property is very
low, and prices must and will advance
greatly in the next year or SO, and any
money judiciously invested in property at
this time cannot but help net big returns
for the owner $50.
There is no question that at present
business property in Minneapolis is low
compared with most cities of this class.
Backed by the enormous development of
the northwest of which Minneapolis is
the principal distributing market and al
most the only market for farm products
the largest wheat market and flour mill
ing point in the world-there seems no
question that values must enormously ad-
vance here in the near future.
There is at present a constant demand
for invest ment opportunities here and a
large demand from would-be tenants OF
wholesale, retail and manufacturing build
ings. Arrangements are being made daily
| for the purchase of land and the erection
of buildings for tenants who are ready to
sign long leases before any of the OF her
transactions are commenced. That is an
|
at a stated amount before he risks cent
| in the investment.
Local capitalists have been aware Of
| this situation for some time and the
shrewd ones have been picking up pieces
of business property for several years
past and gradually improving them or
holding them for sale at large advances
in price.
AS bearing on the demand for business
| quarters it may be said that scores of
established Minneapolis jabbers and
manufacturers have either built or had
1 built for then, new and enlarged strlIct-
nres during the past two years, whiis
Flnany others have secured; additions or
moved into the quarters vacated by larger
concerns There are at the present mo-
ment considerable number of enterprises
which would establish themselves in the
city if they could find unoccupied quarters
OF suitable character. Eastern houses
manufacturers and jobbers-are finding
/ the city a strategic point for the estab-
lishment Of branches. The number OF
such branch houses opened in Minneapolis.
within few years is very large.
In classifying the investment PROPOSE
lions Mr.. Badger puts business property
first because, as he says, leases may be
made for long periods and on terms very
/ advantageous to the owner. It is eXpen-
sive for business house to move when
1 once established. Next Mr.. Badger rates
we'll QUILT apartment ana residence blockS.
He emphasizes the well built. Poorly
constructed structures are never a good
investment. Flats pay we'll and residence
houses in blocks will yield a good return:
but detached houses seem to be almost an
impossibility for the investor. The return
is so small, says Mr.. Badger, that there is
no object in building this class of houses
for investment
But for well built city block houses
there is strong demand and as it is
possible to put more into a given space
than in the detached house proposition
there is a chance to make fair rate Of
interest. 1t may be said of all rentable
property that it is certain to be occupied
as soon as completed. There has been a
tremdous scarcity of houses for rent in
Minneapolis for two years past.