The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-12-09

F. AltnO occupying the foremost place
in the public eye today, the postoffice
site question as not the only matter
OF interest in Minneapolis real estate
for the week ending yesterday: Sew
eral sales have taken place which have
significance, and intimations are pres
emit that the busy season will begin
earlier than usual next year, particu-
larly on upper Nicollet avenue.
The most generally interesting bit of
news is the local offer of 1925, 900 to
Plymouth Congregational Church soci-
ETY. for it's property at Eighth street
and Nicollet avenue. This offer would
probably have been increased to $780,
900 if the bid had been entertained at
all. The inquiring purchaser wanted
an answer at once, and he received a
mittee desires to dispose of the prop
erty to the highest bidder, and it is
probable that such a plan will be
preached. H.
Hard to Figure.
It is rather hard to figure the offer
OF $225,OO0 at so much a front foot
on Nlcollet avenue as basis for future
sales. This is due to the well-known
shape, with greater width in the
rear than on Nicollet. The property
measures 105 feet on Nicollet by 1872
feet on Eighth, and has an "L' ex-
tending: 157 feet back to the alley
from Eighth. Dropping the "L' out
Of the question and the material in
the church, the frontage valuation
would be $2,l43. .~-
The other day George D. Dayton
sold the three-story brick and site,
across Nicollet and the alley-S12-8l4
Nicollet-at 81 500 front foot, or at
81 200, according to the valuation as
placed the price at $1,000, and then
anteed the lease at $1,000 for four
years. This property has a depth Of
125 feet, which puts the two proper
ties, for purposes Of comparison, on
prac tically the same basis.
AS much comment has been passed
on the Dayton sale to DIR. Tourtellotte
as on the Douglas Fiske purchase sew
eral weeks ago of the vacant corner
at Eleventh street and Nicollet ave-
nue.. Mr.. Dayton is regarded as one
OF the shreWdest dealers in the real
estate market, He has been a heavy
buyer, and still retains large holdings,
including his own block at Seventh
street, the Sea block at Ninth, another
Seventh street front, and other prop
critics. In this sale he made a fair
profit, and yet on the principle OF
live and let live'' was willing to
make a sale to DR.. Tourtellotte, an
other heavy investor, altho prophets
placed the value, five years hence, at
$4,000. Mr.. Dayton IS increase was
$4,000. from which the cost Of the
new building erected in 1901 must be
deducted. -;
Stocks Go Into Real Estate.
An interesting feature Of the sale
IS the. understanding that the Tourtel-
lotte investment is the proceeds from
sale OF stocks. The tendency Of the
people to turn from stocks to real
estate at certain intervals has been
emphasized by the real estate men.
and the prophecy has been made that.
following the east, the west and Min
neapolis would soon show a turn from
one form of investment to the other.
circumstances connected with the re-
cent sale indicates that the turn is
at hand. 49,
Mrs: E. G: Gales purchase of so feet
adJo1nlng the Nicollet avenue corner
which she already owned sets a new
foot: The Gale frontage on Tenth. to.
ward First avenue s, IS now IFS feet,
Aitho the Gale properties are generally
taken from the market, this does not
mean, as it might in some quarters.
That they will become stumbling
block IN the way of other improve
ments in the neighborhood. The cor
ner will be- improved at once, unless
some one takes lease Of the property.
Mrs. Gale has already transformed the
OLD shack on the corner site into a
respectable and renting property, but
tn1s Improvement will be sacrificed for
the new building. Inasmuch as the
owner believes that Tenth and Nicollet
will be leading retail corner within
twenty five years, it is probable that
this faith will have some bearing on
the style and construction of the build
Ing which is to be erected in the near
future. " ~
Ninth and Nicollet.
Rumor is busy with the corner of
Ninth and Nicollet. The long lease
OF the Menzel corner by Messrs. Pearce
and Walton set things going. The de.
to the speculation as to What was ito to
be done with the Sea block across
Ninth street and the Reid property at
the diagonal corner. It is reported
that E. G. Walton has an option on
the Sea corner from G.. D. Dayton, and
that Mr.. Brouwer-Ancher is entertain
ing three proposals for the Reid prop
erty, which is one Of the deepest on
the avenue. Some color is given to
the latter assertion by the fact that
the beautiful trees which have made
the Reid corner a show spot in Min
neapolis--an oasis in the busy retail
center--have been cut down.
An 1rnTnvtonf co1o on, ho l.
was that of the Lloyd Manufacturing