The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-03
err about seven years ago for $500 an

el doouI seVeH Years dRO 1OI PoUO an
acre.
1.-The business property is the most
said Mr.. Fiske. Main, Spring and
Broadway are the three principal bust
ness streets of Los Angeles. On
Broadway and Spring, each, more retail
stores are built than on Nicollet ave-
nue. and on Main street almost as much.
A 5Oxl55 foot inside lot on Broadway
corresponds to one at about Twelfth
and Nicollet in Minneapolis. The own
proved, aud refused. The owner Of
55foot lot at Seventh and Broadway,
corresponding to Tenth and Nicollet,
has refused $195,O00 for it. He asks
1925 900. A small three-story building
is the only Improvement. This is an ex-
IRENE example, however, and the prop
erty was wanted for a special purpose.
"The best business property is held
at $4,000 front foot, practically I'M
improved, and few care to sell.
"a cigar store, 10x12 feet, in the
front of another store, at Third and
Spring, pays 1926 rent month. Across
the street, corresponding to Fourth be-
tween Nicollet and Hennepin, is land,
40x80, bought some years ago for $751;
900, unimproved, sold for $43, 900, was
bought back at $4,000, and shortly was
sold to the present owner for $4,000,
who built, He has refused $125,OOO
and the one-story brick building rents
for 5000 a month and will rent for
81, 900 when the present lease expires.
clos Angeles has a great many steel
frame buildings seven to twelve stories
high and most Of them were built and
who have made their money there. All
of them have extreme faith in the future
of the city and back it up by investing
millions in real estate. Property in
Los Angeles is looked upon by the peo-
pie there as better than gold dollars
as they know that tomorrow it will be
worth more than to-day, The stream
of people going there to live is. steady
and constant. The city is growing like
a weed. The climate is cool in sum
mer and warm in winter. To Mime
sotan it is delightful. notwithstanding
the nights that are chilly.
EI have come back to Minneapolis
more convinced than ever that real es
tate is lower proportionately than IL
any city of it's size in the country to
day, and that values could stand 81
per cent increase and then not be on
par with other cities Of it's size and i'm
portance in the United States.
"There are going to be more fortunes
made IN minneapolis Iodl eSIdIC III 'Il'
next ten years than was ever dreamet
of in the time Of the boom.
"Coming back find everybody feel
, that way and find that there has beer
great advancement in the city In tn
last six months.
Minneapolis moneved men are dis
crediting real estate. They are not Civ
} ing real estate it's due. Business mel
, and bankers discredit it, while they will
: invest million or more in commercial
} enterprises. It is just the opposite II
; Los Angeles. On present high. value
bank clearings there are only six mill
J ions week as compared with from
1926 100000 to 2s,OO0,O00 for Minneapo
, lis, and then think of property ther
at the present figures. Building permit
have averaged $3.50, 900 month. tn
past two years steady as against practi
: cally one-third that for Minneapolis
| This shows that the people here hav
got to have conversion in real estate
The old feeling which has been brough
/ about by great losses in the decline o
prices since the boom has produced sue
. a condition that people don It want t
: take any chances in real estate an