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Century Chest transcription 27

Colorado Springs, 7/22/01

"The real estate situation in Colorado Springs"

It really seems as though a subject such as the above could be answered in a few words, yet I find myself swing in much thought as it should be expressed to a business man of one hundred years hence. When in 1877 I first visited this location I saw possibilities, which were however so very far from fruition as to seem almost dreams. Too ill at that time to lend my help to the advance of the town I nevertheless followed carefully all efforts of the citizens of the town to advance its interest and eventually in 1880 commenced an active interest in its welfare. At that time its population was almost five thousand, now at least five times that number. But a statement of population does not express the facts. The ravages of that fell disease, consumption had driven many men of property and education from the sea coast towards a home at a greater altitude in the hope of prolonging life and of these Colorado Springs was and is receiving a large portion. Thus a society has grown up, metropolitan, highly educated wealthy, which can be equaled by no town of the size in the United States and of few cities of five times the population. All of this has had its due effect upon the real estate population. Many being plentiful, the most desirable location for homes have brought a high price. The desires of the population having been for goods of the highest quality irrespective of cost, they have been provided as required and a class of sloths has appeared never before seen in the west. The corresponding increase in real estate values has been enormous. One of the earlier sales with which I was conversant and was that of sundry lots on Tejon St. in Block 81 for the purpose of erecting what is now the Colo Springs Opera House. These lots, 25 x 190 feet each were bought for $300 each. At the present time they are readily worth 20,000 each. The writer, in connection with a friend, bought the 140 x 200 feet on the South East corner of Pikes Peak Ave and Cascade Ave about ten years since for $35,000 and has since sold the same property for the $115,000. The above will show what the advance in real values has been. That this will continue seems certain. The town grows continually. Each sale shows an advance over its predecessor. The town is continually better known and every probability points to continuing growth for years to come.

Henry LeB. Wills

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