www.FranzosenbuschHeritageProject.org Home
This article
appeared in the October 24, 1924 issue of the "LaGrange Citizen" newspaper
MYSTERY IN SALE OF FARMS
Dame Rumor Has Many Conflicting
Stores--Some Important
Development is Certain
Dame Rumor is an elusive mistress and in her time has played many mischievous pranks on those who accepted her gossiping and whispers.
During the past couple of weeks the "Old Dame" has been flying from barn yard to barn yard and to various real estate offices broadcasting all kinds of explanations for the wholesale purchase of land in the rural section north of Brookfield, LaGrange and Western Springs.
This much is known and this is all that is known: every acre of farm land from Broadview to York road (the Cook county DuPage county line) along both sides of Twenty-second street has been sold within the last month.
A most effective smoke screen has covered up the transactions. At least ten different agents have been buying land and as soon as an owner fixed a price for his land, the broker made a payment to bind the deal and a few hours later an attorney appeared on the scene with the papers to close the transaction. In every case title was taken in the name of the attorney and payments were made by cashier's check so the seller had no clue as to the actual purchaser.
Real estate men, realizing that something big was under way scurried to pick up any property that had been overlooked but they cannot find so much as a single acre in the territory along Twenty-second that has not been tied up. The prices ranged all the way from $600 to $1,500 an acre and payments are usually one-third cash. Subdividers agree that no such terms could be offered by those who expect to subdivide it or to hold for the natural development of this section.
Rumors Run Wild
Many fantastic stories have been told but most of the agents who handled the details explained to the farmers that the land is being bought by "an eastern syndicate." This is doubtless true but what the syndicate expects to do with it is still shrouded in mystery.
The stories were that the Douglas Park Elevated would be extended along Twenty-second street and that speculators were buying up property that might be desirable for subdividing.
Some of the farmers were told that the LaGrange Country Club wanted a new site. Other stores were that the land was wanted for new cemeteries.
One man told the reporter the stockyards are going to move out this way. When the ambulance arrived the man was dead and the coroner refused to hold the reporter.
Then rumor established a branch of the Ford factory along the Belt line and a big steel mill was located there but both of these stories are too improbable for serious consideration.
A story that seemed to have more basis was that the General Electric is planning a big western factory but this was emphatically denied by those who should be in a position to know.
Anyhow the land has been sold, possession is to be given just as soon as possible and some big commercial or industrial development is to be started.