The Great Seattle Land Rush of 1886
While the city's population surged, land agents flooded the newspapers with ads promising cheap fortunes in the newly platted additions of Seattle.
The story, cleaned up
A cleaned-up reading of the newspaper page: spelling and layout repaired, one story lifted off a crowded page. It follows the original closely but it is not a transcription. The original page is below; read it if a detail matters.
The Highlands, Pontius, and Phinney additions. We have contracted property low, and the investors shall have the benefit derived thereby. Prices: $400 for inside and $500 for corner lots, with 6 per cent added, being the contract price with commission added. Liberal discount made for improvements. Terms: One-half cash, and the balance in 6 and 18 months at 10 per cent. Is this not by far the cheapest property you know of? J. B. McNaught, Chomesh Building, Commercial Street, Seattle.
“We have contracted property low, and the investors shall have the benefit derived thereby.”
This advertisement captures the birth of the Seattle real estate market as we know it today. The 'additions' marketed here laid the foundation for neighborhoods like Phinney Ridge, reflecting the exact same anxieties about land affordability, developer speculation, and installment-plan financing that define modern Seattle's housing discourse.
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