The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-03-22
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ACKNOWLEDGEMENTS

A resume of the local real estate sit
uation for the past week indicates that
the prospects for dirt deals" for 1903
are much brighter than those of a year
ago, Notwithstanding the fact that 1902
was one of the best years in the real
estate history Of st. Paul since the
boom days.
The record of transfers given above,
which is considered a splendid barom-
eter, shows that the business of the
week just closed is heavier by more
than one-third than that of the same
week year ago, and even this per-
centage is exceeded when a COMPARE
son is made of the past three months.
The recent heavy buying of local
real estate by railroads entering St.
Paul is largely responsible for the in
crease in business over last year The
Northern Pacific alone has, since the
first of the year, purchased more than
100000 worth of st. Paul realty, pay
ing prices which could never have
been realized had the property been de-
sired for anything other than rail-
road purposes.
The bulk of the property gathered up
by the Northern Pacific lies in the
lower town district, although the roads
purchasing agents have bought some
lots farther up in the city, the most
recent purchases being in the vicinity
of the company's right of way, along
Westminster street and Woodward
avenue. Unusually high prices have
been paid for all of this property one
small triangle on Westminster street
bringing $4,000.
Plans Big Terminals.
When the Northern Pacific shasMse-s
cured the remaining property desired,
it is stated that the erection of the
largest and most complete terminals
in the West will be commenced.
The road will expend a large sum of
money on it's terminals. and. provisions
will be made for some large ware
houses which have been planned for
some time. In addition to. the ex-
penditure of $750,000 for the property
necessary for the contemplated in=s
provementS, more than $1,000,000 will
be spent on the improvements proper.
Aside from the large purchases be-
ing made by the Northern Pacific, both
the 500 and Great Western roads are
investing heavily in st. Paul real eS-
tate, which is needed for Improvements
contemplated by each of these roads.
The 500 is said to have made some.
heavy purchases in lower town, and
has bought up considerable property
north of Seventh street and east Of
Lafayette avenue and Neil1 streets.
This latter property is said to have
been purchased by the 500 for the pur-
pose of putting in its own terminals.
All of the railroad companies having
heavy interests in st. Paul, realizing
| the fact that the city's future develop
| ment will warrant such action, are
| now securing all of the property posi-
| bic. Good prices are being paid, but
| the purchasing roads realize that even
| at the prices now being paid the prop
| erty is being bought cheaper than 1t
| could be a few years from now, and
| are taking advantage of the opporturrf='
of use to them later on.
Great Western Buys Land.
The Great Western has bought
| large tract of land adjacent to its
| tracks in West st. Paul. and is said to
have secured options on much more. 1t
| is the object of the Great Western to
| secure possession of all the land posi-
| BILE adjacent to it's line of road and rent
| it for nominal sums to manufacturing
| plants.
| The company is said to have already
| secured the promise of large number
| of infant industries to locate upon
property along the Great Western line,
| and some of the older and larger man
ufacturing plants are also considering
the ACCESSIBILITY of accepting the roads
| offer. The plan of the Great Western
| is to give long time leases on this prop
erty for the nominal sum of 81 per
securing manufacturing tenants for it's
| levee property.
Real estate agents are more than
satisfied with the prospects and the
business already transacted so far this
year. In magnitude it exceeds any
former year for some time, and there
is nothing to indicate that the activity
| will not continue.
Inquiries are being made every day
for suitable locations for residences,
and applications for desirable building
sites for business houses are numerous.
! Property of this class is bringing good
prices and the demand is far greater
than the supply.
Many of the iobbing firms in the
| wholesale district are looking for
more commodious quarters, as a result
Of which down town property is held
at much higher prices than it was a
year ago.
Architects report business better
than for many years, and rental agents
cannot. begin to supply the houses for
|