The Minneapolis journal., 1903-03-07
Real Estate
ANOTHER GOOD sign.
Prospective Sale of the Exposition
Building a Good Thing
for Realty.
The City Is Filling Up and Build
ing Up Along Every 5si
/. Line. "a

There is not believed to be very large
.'if involved in the negotiations for, the |,
purchase of the exposition building by /
M. w. Savage of the International Stock
Food company, and Minneapolis real estate
men will rejoice that a piece Of property
of this size is to be moved Not only
would the sale give the Internal tional COM
pany a strong advantage in the way Of
the most prominent location in the city,
but the good effect of a large industraFj
plant set on a hill is bound to have an |
enlivening effect on& all manufacturing
sites. When a city has a reputatio as
manufacturing center to sustain, & the
old maxim that nothing succeeds like sue
cess applies with particular force, and the
evidences of success cannot be too well
displayed. Minneapolis is especially for
tunate in this respect, for a very large
proportion of people coming into the city
pass through or near the imposing mill
district before alighting from their trains.
Many Business Buildings. ~
This momentum. Of development is felt
in residence property as we'll as in manu-
featuring sites All over the city new
residence sections are being built up. The
new house seems to be gregarious, for it
is certainly coming in focks in some dis
tricts. There Is one street which has
twenty -four houses all built within four
years, and every one built for the resi-
dence of the owner. This is the sort of
development which is thousand fold,
more significant of growth than a hundred
builders y houses rushed up on cheap
property, to be unloaded as soon as pos
sible Two or three years ago people
were saying that the town was over
built as well as plated in boom times.
That talk isn't heard nowadays. Instead,
home builders are recognizing that build
ing materials are pretty firmly established
on the higher plane; but money is more
tho ioh lose of
dampener and residence construction is
coming right along.
Business Property Well Rented.
| Home building means more people and
| that means more business, so it is not
surprising to find that business property
| was never in better demand than now. One
firm has been looking for a down town
| store room in vain for two weeks. 1t is a
new institution with somewhat peculiar
! requirements but it is not looking for the
impossible. Their experience is not un-
common by any means and this season will
will see strong progress in the enlarge
ment of Minnea polls business suit.
Sermon on Confidence.
These conditions warrant firming up
| in all lines of property which is not yet
| so generally evident would seem nat
ural. The Commercial West this week
prea ches a sermon along this line. It
says in part: ILL.,. 2.
THE way to have an improvement in
real estate values is to have it: Mark up
the prices There is no sense in giving
away property. Throw bomb into the
camp with notice to the public: There's
my price. now put it in your pipe and
smoke it,. -. = T., :. =:
"The highest price paid " for business
property in Minneapolis is $4,000 "a front
foot Indianapolis can show record OF
$4,000 a foot and the Gernble site in Mil.
waukee sold for $4,000 a foot. The waystt
have business property in Minneapoli:
sell for $4,000 a foot is to put the. price
there. It will sell. .>.- =.
Rentals are 80 per cent higher in Mil
waukee than in Minneapolis. This il
wrong. It hurts the city. Good offic,
space in Minneapolis is worth as much a
, it is 'in any other city of it's class, in tn
, country. Why isn't~it?
There is too much pessimism in thes
matters. What Minneapolis and St. Pau
need to-day is a shaking of dry bones,
shaking up Of policies, less of a pessimisn
: that is doing injury to state and city
There is too much law making in Mime
sofa, to much Of effort to lay burdens o.
), industry. There are other places in tn
country than Minneapolis and ST.. Pau
n If investment will not pay in these cite
e it will go where it will pay. The wa
: to resume activity in northwest real es
>, tate is to resume activity. Express con
>, f1dence in things; do not go around wit
); mOurnful expression lest the legislator
g may not pass 4 per cent tax bill; thin
8 rather that flats and apartments ar
filled with people, that Minneapolis an
st. Paul are growing, that they will gro1
more if we can organize. on right lines.