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It Will Be On June 25

It Will Be On June 25 image
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TJiere are few people who will not be intejested to know that the sale of lots in the Miller addition to Ann Arbor has progressed so well that the day of allotment has been set and that at a time only three weeks distant. When the announcement was first made that this property was to be placed in the market it was the almost unanimous belief that it would take but a short time to close out every lot, as this was the, only available residence property left in vvhat had become the very finest part of the city. The lots were placed at a Iow price in comparison with the prevailing prices on lots in the adjoining additions. The result has been as was predicted and with very little effort all but a very few of the lots have been sold, many of them to people who contémplate building handsome residences during the coming year. While about one-half of the sales have been made to individual parties who wish to have homes of their own one deal which covers 26 lots is worthy of a little extra mention. Realizing the fact that there are many people in Ann Arbor who would prefer to own homes of their own, and who could not afford to pay from $2,000 to $3,000 for a residence lot, which is the prevailing price in the city, some Ann Arbor business men thought that it would be a good plan to buy a block of these lots, and place them on the market in such a way that everyone who wished could own a home in the very best part of the University city. By owning a large block of lots in this way the chances are that after the allotment itwill be possible to suit the taste of everyone as to location and price of lots and by loaning the money with which to build a house at a low rate of interest it is more than likely that at least 20 of these lots will have fine residences on them during the next year. Every effort will be made to improve this part of the city so as to increase the desirability and value of the lots, and the chances are that everyone who has bought a lot will make from 25 to 50 per cent profit within the next year. The gentlemen who are associated in this deal are A. L. Noble, C. E. Hiscock and H. P. Glover, gentlemen whose names are associated with many successiul business enterprises in the Twin Cities. Of course, thereis a good percentage in favor of the house being drawn by this syndicate, but as such things generally go it is the man with one chance who draws the prize, and it will probably be so in this case. One of the gentlemen said that he was going to have one lot out Qf the pool on this very account, for he had never known a big pool to draw a prize, and he would like to draw that house. When the allotment is made the managers want to have the place where it is held chock full, and a good representation of responsible business men on the stage to see that everything is carried out fairly. The allotment will be made in the manner decided upon by the individual lot owners the day before the allotment, and then some one will draw that lot with the $i5,ooohouse. There are still a very few lots which will be sold singly, but if not cosed out in a short time they will be put into another pool.


Ann Arbor Argus
Old News