The Minneapolis journal., 1904-12-31


Of implement houses in the South Side center on Third
street for the Emerson Newton Implement company.
Cream of Wheat have n,, anI 'no n
the old wholesale center by building First avenue
N in the Hefelfnger group. s. T. Mcknight has Civ
still another crmp to the First avenue score by
building warehouse and manufacturing building for
Wyman, Partridge & Co., near Seventh street. Frank
p Nicoll and others have added weight to the mpor
tance of the Central Market by building commission
warehouses, and T. B. Walker will contribute his mite
by building farmers large market hotel, with stores
below and sheds for teams. ss..5,,
- The old amusement center carried back for a
few yards gain by>J. e. Rogers, who put his Henne
pin avenue vaudeville house, the Unique, Henne-
pin down below Sixth street, and the hotel
ceved some strength by big additions to the Ma
tiona and Rogers hotels. Wall street - was firmly
anchored in the neighborhood of Fourth street and
First by the building of the Northwestern Ma
tiona bank completed this year, and the remodeling
Of its banking rooms by the National Bank of Com
merce at the same corner Another cinch was taken
by the decision of the Security bank to lease the
floor of the Deering building to be put up at Fourth
street and Second avenue s. ar.
.~.:. Move Toward the City Hall
The tendency of Investment buying in the busi
center for years has been towards the court
house and city hall Corners at Fourth street and
Fourth S, Fifth street and Fourth avenue s,
Fifth street and Second avenue S. have been taken up
by capitalists with the view that Second and
Fifth would become an office and retail center. Mr.
Deering gave substantial evidence of similar grasp
Of the situation by building the Evanston building at
s fes foF h and by his %
street the avenue The decision of the 500
Line to build its offices Second avenue just below
Fourth street, with the laying Of the foundations this
year, Is another straw, President Thomas Lowry is
believed know much about Minneapolis real
tate and its trend any other capitalist. Still
other important Indication Of the prospective value Of
Second property the transfer to the S. T.
Mcknight company few weeks ago of the building
directly the street from the 500 Line office
building site, at $4,000.
Lower Nicollet Prosperng.
Lower Ncollet has been given a boost this year
by the sale of the Nicoe House property to the Unit
ed Cities Realty company of New York, for 100000
The fact that shrewd outside investor willing
and anxious to into the local market and buy
an investment, was encouraging, but when the fact
that the corporation buys only the best property with
strong revenue prospect known, the advent of
the company was taken by lower Nicollet property
owners doubly significant. The United Cities had
previously into the market in it's purchase of the
store and office building Nicolet from
the hotel. ~.,r: sl4..
Something of encouragement came also from the
directions of the eastern to their agents. the
j. F. Conklin Zonne company, to remodel the store
building at Third and Nieeol1et: Then came long
lease by the Great Northern and the Burlington roads
of the corner frontage for acity ticket office. Rail-
roads far sighted in their selection of offices thru
which they must do business with the travelling pub
ic One Of the requisites is ease of to the
greatest number and the Of the Burlington nearly
two blocks down the avenue is taken to be bit Of
the situation with perspective. Eastern lines have
their eye on similar locations for city ticket Offices
:. 49,: Nico1let Avenue Property at Top. - " j.
This year some new figures have taken prominence
in the buying and in the brokerage real estate field.
One Of these is. E. J. o'Brien, who has settled on
Nicollet avenue as his ''game. Most Of the other
buyers who have been busy the past year have put.
their eggs in several baskets. Mr. o'Brien bought
from G. p Dayton the store hui ding at us Ncoet,
for $62Qoo and has just negotiated the sale of the
building at 522 Ncollet avenue, for $4,000, at
about $4,000 front foot These two sales have shown
that Ncolet prices have stiffened that it
is hard to buy at ali that avenue below Twelfth
street. Mr.. O'Brien said at the time concerning the
effect of stiffening prices and scarcity of locations
on rents: "High rents are natural result of de-