The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-02-04
WHAT MINNEAPOLIS
PROPERTY HAS DONE.
Specific Instances in Which Investments Have Made
Remarkable Increases in Value, Almost Double the
Original Cost Being Offered for Them-Ths Is the
Shopping Season in Real Estate.

~ HIS is the shopping season in
real estate circles. Business is
not heavy, but there is a lot
of inspection of bargain tables going
on. This is what the agents call shop
ping A large proportion Of the in.
quiry and the search for extra good
Investment, with prospect OF large re-
turn, does not result in immediate sales
Buyers are in no hurry to place their
money so early in the season, but the
prospect indicated by conditions is for
brisk trade as soon as the season
opens. Real estate offices are loading
up, however, for profits.
While strong stress sxl has been Pia Gee
so much has been said as to buying
lots. Cost of material and price of
labor has been shown to be on the rise,
with little show for decline in values:
Like conditions prevail in the real
estate market, showing that now is the
time to buy. A survey of the transac-
tions of the last two or three years
land.
E: Some Remarkable Increases.
It has been suggested by the sus-
picious investor that all the talk OF adc
vance in values Of property and OF
profits cleared in deals have been only
the boosting talk of real estate men.
without a Just basis for the claims.
Facts being stubborn things to over
come, the circumstances of some few
scattered sales have been recorded for
comparison and for sitting out: Natu-
property. Advances begin down town
and finally spread thru the residence
districts to the limits Of the city. Some
Illustrations go to show that the circling
waves of advance have already affected
dwelling site lots.
Inasmuch as the charge is frequently
made that all optimistic talk is bun
asked to divulge some Of their expert
ences for the benefit of. prospective
buyers, and for the pessimistic element
IN the market whose blue specialized
eyes fail to see the signs of good times
on the horizon. In several instances the
advance in prices is indicated. by the
fact that the owner now refuses to
accept offers at good advances on the
original price. This is as sure an indi-
cation that the market is up as if the
sale had been actually made.
i. A 100 Per Cent Raise.
Two years ago 1913 feet frontage on
Seventh street, at Second avenue S,
was bought by James Dempsey for a
trihe less than $4,000, or about $3.50
a. foot The owner has been offered,
erty. His belief that the just value is
a; heavy advance on the cost to him is
shown in his asking price Of 100000, a
trihe Of only 100 per cent.
This appreciation is typical Of the
central business district Of Minneapolis.
Only isolated cases are necessary, how
ever, as a multiplication Of examples
value increase in the new Lynhurst
neighborhood is shown at Forty fourth
street and Fremont avenue S.. Two
lots, severally Of so and SO feet front:
age, bought thirtysix months ago at
$3.50, were sold last year for 81, ) 75
This is a fair sample Of the satisfactory
advance which property owners haye
rection. While the advance is about
100 per cent, the deduction Of interest
figured at S per cent reduces the profit
but by a scarcely appreciable amount
Residence Lots.
Emphasis has been. laid on the ad
vantag &c to salaried men of building
The Injunction applies to buying lots
as well. An instance taken from thu
sales in Palmer's addition, one blocl
west Of Minnehaha avenue from Thirty
first street out, which has been ex
plotted as an ideal spot for the loca
zion of the modest-priced home, will
Illustrate. Lots which were selling
held at from 1925 to $3.50. An advance
of 100 per cent in value is, of course
clear gain to the owner Of the lots, i,
case he wishes to sell, or as a basis TO
Ia, mortgage loan to furnish the nucleu
of building fund. The fact that tn
advance has been SO heavy is no
quoted to discourage purchase Of lot
FOR home sites, but to show the neces
sty Of buying now, instead Of await
Ing another. twelve month, which ma,
develop a second doubling in value, an
which has been prophesied.
In Calhoun Park.
In Calhoun park, which is CROWN
In popularity as home center, a
lot 46xl2s feet was bought last yea
For $3.50. Since that time an insid
lot, between Thirty-frst and Thirty
second, on Humboldt, As feet frontage
has sold at 5000. This incident illus
trates the gradual upward trend, q
corner lots are always held at highe
prices than those which have only tn
one frontage.
Three lots at Eleventh street ar
Hennepin avenue, fronting sc feet o
Hennepin and Is feet deep on Elevent
street, sold to 4. B. Latham thre
years ago for $4,000, at that time co,
shout 1920. About one year ago til
Knoblaughs bought A feet on HEM
pin, on which they have erected a fir
corner store building, for about 81 so
This practically leaves for the owne
% feet frontage on Hennepin avenr
nearly clear gain, or. less a cost {
only $500. -,,.-5 s..s'7
Two Downtown Sales.