Year: 1875

| W1L0t0 the past TWO OF IiI9e years, W1uC


would put them in vastly better condition 70


the present, and assure them longer tern


of service. One thing is certain: The in


terests of the city cannot fail to suffer seri


ously if the present condition Of the street


is allowed to continue, and it will constantl,,


towards an improvement, both on the part G


the Board of Public Works re1ative to tn,


prompt repair of streets not altogether wor1


out, and on the part Of those owning propert,


On streets where the pavement Is worn ou


beyond repair.


THE LAKE FRONT: WHY NOT RENT TIL
As long ago as 1867, the Legislature Of Il


linois, through the influence Of bribery, IN.


dertook to sell that portion of the lake FROM


north Of Monroe street to the Illinois Central


and other railroad companies, to be used by


them as passenger depot The considera.
| ton for this conveyance was the sum o3


$500, 600, to be paid to the City Of Chicago.


There were various objections at that time


to the ratification Of such sale: The price
was deemed insufficient; the authority Of the
State in the premises was questioned; the
! title Of the city was controversial; there was
I claim on both sides as to the riparian rights;
| there was also pretense of claim on the
| part Of the United States Government ); and
there was an exceedingly strong assertion on
| the part Of property owners on Michigan
evenue TINT the lake front lind been dedicated
for park purposes, and none OF it could be
re34 taI IN ~ $hor yus{H 1,nt+
consent The result was a refusal on the
part Of the city to accept the money, $500, 600
OF which was deposited with the Comptroller,
and refusal 70 confirm the sale. The
United States Court was appealed to, and en-
Joined the city from making the sale.


In the meantime matters have greatly
changed. The fire swept away Ill the pri-
vste residences to which the parl: had been
considered an adjunct; that part of the city
has been practically abandoned for residence
purposes; ivery-stables and saloons have
succeeded the palaces, and henceforth that
section will be devoted to business purposes.
Last winter the city advertised all its unused
real estate for sale, including this portion Of
the Lake Park, reserving, however, . strip Of
sufficient width Of the latter On the east side
to retain the riparian right. But the rail-
roads refused to buy the land with that right
withheld Property in that part OF the city
has declined in value, much OF it having
been sold for far less than the ante-fre prices.
In the same period, owing to losses BY fire.
defalcations, and defects in the law for the
collection of taxes, the city has become en-
bafrassed by large temporary loans to sup
ply deficiencies in uncollected taxes. These
loans bear interest. The conversion Of un-
productive lind belonging to the city into
cash would now be great relief to the city.
The original price offered by the railroads for
this one piece would go far towards building
the city portion Of the new Courthouse, and
render taxation for that purpose unneoes-
sary.


But, we suppose, there is no possibility Of
an agreement for the sale Of the property,
which remains unproductiVa. We have heard
rumor-for the truth Of which We cannot
vouch, but which We hope may be true-that
it is, or will be, proposed to lease to the rail
roads the ground north Of the Exposition
Building-the same that was covered by the
net of 1867-at q rental OF 10 per cent on the
valuation Of $500, 900; the lease to run for
20 years, and the improvements to be tax
nb1e. This would give the city an annual
income Of something like 500, 1000, which
would DO an important addition. to its
revenues, and would rapidly extinguish al
its floating debt. This lease may be executed
without any surrender Of any of the rights Of
the city or parties, either ns to title OF as to
riparian rights, OF as to individual rights in
the continuance Of park. All these difficult
ties, which stand in the way Of sole, will |
be avoided in the event Of lease. Upon
the ground thus leased the combined rail
roads will erect depot building such rs will
surpass any similar building in the United
States. The erection Of this building will OF
once add value to the now vacant land in the |
will lead to its improvement;
add largely to the tar income Of the city;
be of great public convenience; and be ft !
complement of the architectural beauty OF |
Rebuilt Chicago,


We have, as we have said, no positive evi-
denoes TINT this report is undoubtedly true; |
but the story was 80 promising of good re- |
suits to the city TINT We have ventured to
present it to the public, with the question, Il
it be not true, why may it not be made SO?


An annual rental and tar Of 500, 600 OF
800, 600 for Al unimproved and unproduc-
tive block Of ground for which the city has
no present or remote use is not, or ought not |
to be ignored by City Government which
has several millions Of floating debt, in the
shape OF interest-bearing paper outstanding |
in anticipation Of uncollected taxes. It is to |
be hoped that the city, which probably cannot
sell, may try and find lessee; and, if it oan-
not convert its unproductive land into cash,
it may at least make 1t productive by leasing
it. The once-strong prejudice against the
OF that site for any purpose no
longer exists, and there is now quite as strong
q desire that there shall be 3 grand central
depot built there, which will be Of conven-
ience to the travelling public and be Of profit
md an ornament to the city.