Surveyor's Journal Entry Sixteen:
First Columbus Land Sale is Held at the Start of the War of 1812
Sale of land in Columbus began on June 18, 1812, the same day that the United States declared war on Great Britain.
The original in-town lots were 62.5 feet wide and 187.5 feet deep. The front property lines would be bordered by streets and the back lines by 33-foot wide alleyways.
Out-lots, containing about three acres each, were those located farthest from the center of town.
The most desirable properties along the planned High and Broad Streets were priced as high as $1,000 per lot. Out-lots cost in the range of $200.
The proprietors’ “terms of sale” required the purchaser to have a down payment of one fifth of the purchase price and agree to pay-off the balance in four equal annual installments. Interest was charged for late payments and an eight percent discount was given to those who met all of their loan obligations on time.
The initial sale lasted only three days, but brought together an industrious community of about 50 purchasers that immediately started clearing the land for the eventual construction of streets, houses, inns, and shops.
Next Entry: Boom and Bust Times Affect County Land Sales