The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-02-22

profit of $3,475 on an investment made
less than year ago. The property was
bought by Hansen last May for $2,025.
Should the Northern Pacific show an
inclination to make further purchases
of property in this vicinity there is lit
tie doubt but that the realty in demand
VIII more than double in price, as was
the case with much of the lower town
property on this side Of the bridge,
which has passed into the hands of the
Northern Pacific during the past few
weeks. The deed for the sale of the
Hansen property was filed for record
yesterday, and is made out to the
Northern Pacific direct, and not to any
of their many buying agents, as has
been the procedure followed in much
Of the other property picked up.
Mystery Is Solved.
The fact that the Northern Pacific
has now crossed the bridge in its prop
erty buying crusade, together with the
fact that a number of the deeds for
lower town property on this side of the
bridge were made out direct to this
company, and that some 100000 worth
was recently made over to the COM
pany in a blanket deed from the North
western Improvement company, dispels
the idea that it is the 500 or any road
other than the Northern Pacific which
is doing the buying.
The prediction made in T h G / O
month ago to the effect that ST. Paul
would soon be in the midst of a real
estate boom seems to have been justi-
fed. The statement at that time was
not a wild guess, but was based upon
facts and information, the details Of
which have since come to the notice of
the public.
At no time in the history Of the city,
since the boom days, back in the sos,
have the prospects for activity in real
estate been so promising. Already this
year more deals have been made in
local real estate than ever before in the
same space of time, and while the nu-
merous transactions assume the pro-
portions of a real estate boom, the
word boom" is alien for the reason
| that in the many deals made during
the past few weeks, and in those still
| being made, there has been no I'M
natural imitation Of prices. Property is
| selling readily, and the demand is great,
| but the deals are being made at legiti-
mate prices and there is no danger of a
reaction which might result seriously.
Demand Is General.
No particular class of property has
! had the run, there being a steady de-
mand for all sorts of property, and in
| all sections Of the city. Owing to the
many large purchases made by the
| railway interests in lower town prop
| erty and the recent activity in West
! side property, little attention has been
paid to the amount of business being
| done in other sections of the CITY, An
| investigation of the actual conditions,
| however, shows that the activity in ST.
Paul real estate is not confined, by any
means, to the two locations named.
Both business and residence property
is in good demand, and many requests
| for this class of realty cannot be sat
| iSfed for the reason that the demand is
| far greater than the supply. Prices.
| while higher than for many years past.
are still much lower than are offered
by any other city in the country of the
same size and advantages of st. Paul.
| Under these conditions an investment
in st. Paul property will result in
| larger returns on the amount of CAPT,
| tai invested than can be had in other
places where property is higher, but
rents lower.
Local real estate agents say they
| cannot begin to furnish houses ana
| suitable locations to the many persons
| applying for them. There is scarcely
a vacant house in the entire city, and
| hundreds of application on file in the
rental agencies remain unsatisfled.
Houses Are Very Scarce.
81 could rent 500 houses in less than
two weeks time If I had them" said
a well known agent yesterday. 1.-THE
| demand is for moderately good houses.
and people are willing to pay the
| prices asked. A house never stands
empty longer than the time required
for one family to move out and another
| in. For every house to be vacated
there are q dozen applicants ready to
take immediate possession. ] look for