The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-06-30
HAS BRIGHT LOOK.
Many New HOuses Are Going Up
in Topeka.
Very Few Of Them Are for
Rental Purposes. =
HOME BUILDERS WORK
Real Estate Men Say That Peo-
pie Are Coming.
An Absence Of Speculation in
Topeka Real Estate.
HOME BUILDERS WORE

Topeka is growing. In support OF
this statement the real estate dealers
Of the city tell of the large number of
new houses which are being erected
and the constant and steady demand
for rental property, a demand which
is to all purposes greater than the
supply. The houses that are being
built are in the main for homes and
not to let to tenants. Here and there
are instances where investments have
been made looking to rental property.
but such instances are more notable
by their absence.
The erection of so many homes has
had no apparent effect in lowering
rents or in the number of empty
houses listed at real estate Offices
Rents are high, and on inside prop
erty, ready of access to the business
portion of the city, will to all events
go higher. The only explanation
which can exist therefore for this con
dition of affairs is that an increase
is being made from the outside to the
city's population.
But few investments are being made
on speculative basis money of that
character finding its field in the oil
tracts of the Chanute and other Kan
sas oil territories. You have no idea
Oh the amount OF money Wl1ch IS be-
ing sent down to that district said
one of the prominent real estate men.
Consequently all the stiffness which
the local real estate market enjoys is
the result of healthy conditions.
Summer is always a quiet period for
real estate transfers and in this way
differs from no other line of business.
The presence of the Worlds fair and
that the country is on the eve of
presidential election, may have a GER
tain tendency to slacken movement but
the general opinion among those who
watch real estate closely is that there
VIII be no material slump in the active
life which has characterized property
transfers in the past. City property is
commanding a steady and fair price but
The greatest raise in values has come
To farm lands.
Shawnee farms are bringing from S45
an acre to $50 and even some are held
higher than the latter figure. Good up
land farms cannot be touched for less
than $50 per acre, while the floods of
last spring do not seem to have acted
materially upon lowering the prices pre-
vaiiing previous to that time.
For rental purposes city property of
from I'VE 70 seven rooms is IN heavy
demand, bringing all the way from SO
10 $50 per month, contingent on cOndi-
ton and situation
In the way of transfers. The south
west corner of Fifth and Jefferson, con-
sisting of three unimprOved lots have
just been sold to William Curry for 81
500 by Benedict & Co.
Gillett & Gillett who control the His
ted tract of IS lots, bounded by Clay
and Fillmore streets, and by First and
Second streets, are rapidly closing out
that tract. Something like nine houses
costing from $1,000 up have just been
erected and others are contemplated.
Barnes Real Estate company have
completed a number of sales of which
the following are the more important.
301 Harrison, three lots improved, SO, 400.
lots pos and POS Quincy, unimproved,
$500 1901 Tyler, 21a lots, nine room
house, purchased by DR.. Crumbine. sec
rotary state board Of health for "a, 500,
1917 Topeka avenue As feet and eight
room house to Elan S. Clark for So
600. Two lots fronting Central park,
Thirteenth and Fourteenth streets on
Clay. unimproved. were sold for $1,000,
an advance in price of 5000 in 80 days.
The southeast corner of Fifth ana
Quincy, consisting of three lots which
was sold recently by Geo. NJ. Noble &
Co to Joseph GrOll for s., $50, will soon
be improved by the erection of a store
building. the plans for which have as
yet not been perfected.
In short, the tone as regards real es-
tate values is optimistic and there is q
general feeling prevalent that the out
look bodies we'll for investor as well as
seller.