COMMERCIAL ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of local government pursuant to Article VII, Section 6 (a) ofthe 1970 constitution ofthe State oflllinois and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the properties at 7500-7558 S. Laflin Street and 7501-7559 S. Ashland Avenue are owned by Gendell Partners 75th/Ashland LLC; and
WHEREAS, pursuant to ordinance adopted by the City Council ofthe City of Chicago (the "Citv Council"! on November 5, 2014 and published in the Journal of Proceedings ofthe City Council (the "Journal") for such date at pages 96156-96160, the City vacated a north/south 18-foot public alley ("Alley") to Gendell Partners 75,h/Ashland LLC ("Gendell"); and
WHEREAS, Gendell proposes to assemble the surrounding lots, the Alley, and the South thirty-three (33) feet of W. 75™ Street ("Street") to be vacated herein for commercial development; and
WHEREAS, due to a larger area of assemblage not included in the November 5, 2014 ordinance, it is advisable that the November 5,2014 ordinance be repealed and this ordinance be adopted to more appropriately represent all Alley and Street areas to be vacated; and
WHEREAS, the City Council of the City of Chicago, after due investigation and consideration, has determined that the nature and extent ofthe public use and the public interest to be subserved is such as to warrant the vacation of that part of the public Street and the Alley , described in the following ordinance; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. THE NORTH-SOUTH 18 FOOT WIDE PUBLIC ALLEY IN J.R. LANE'S SUBDIVISION OF BLOCK 19 IN JONES SUBDIVISION OF THE WEST HALF OF SECTION 29, TOWNSHIP 38 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN PER DOCUMENT 1540324 RECORDED SEPTEMBER 23, 1891 LYING WEST OF AND ADJOINING LOTS 1 THROUGH 24, INCLUSIVE, AND LYING EAST OF AND ADJOINING LOT...
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