Review

...a source of invaluable data/analysis on the subject of urban land economics...equally fascinating fromthe standpoint of American history. -- From Turnarounds and Workouts, August 15, 2001 Review by Gail Owens Hoelscher

From the Publisher

A source of invaluable data and analysis for students of urban land economics, this exhaustively researched book was the first comprehensive study of land values in a large city undergoing a period of dizzying growth. Between 1830 and 1933, Chicago grew from a cluster of a dozen log huts to a booming city of 211 square miles and a population of almost 3.5 million.

From the Inside Flap

A source of invaluable data and analysis for students of urban land economics, One Hundred Years Of Land Values In Chicago was the first comprehensive study of land values in a large city over a long period of time. The author successfully wove in the social and economic history of Chicago as well.

The book covers the years 1830-1933, a period of dizzying growth during which Chicago grew from a cluster of a dozen log huts at the site where the Chicago River meets Lake Michigan, to a booming city of 211 square miles and a population of almost 3.5 million. Over those hundred years, ground value grew from a few thousand dollars to more than $5 billion.

What a century it was! Chicago rode a roller-coaster ride of the railroad boom, the Civil War, the Great Chicago Fire, the first skyscrapers, the First World's Fair, the First World War, and the Great Depression.

The book is exhaustively researched, with 103 maps showing land values of specific sections in various years; the evolution of the railroad; the growth of public transportation (from horse car lines and street-car lines to elevated lines); sewer construction; the distribution of buildings of various heights; population densities; residential areas by predominant ethnic groups, among others. There are 103 data tables as well, including employment and wage figures; mortgage rates and amounts; property sales and rents; and various comparisons with cities of similar size.

About the Author

Homer Hoyt was one of the early well respected real estate theorists who developed the theory that communities will tend to grow toward their largest neighboring city, all other things being equal. My Hoyt was overjoyed with the application of his theory in a modern setting and donated funds to establish the Homer Hoyt Center at Florida State University, which is now known as the Homer Hoyt Program in Land Economics and Finance.