OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
May 28,2014
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Planning and Development, I transmit herewith ordinances authorizing the sale of city-owned properties.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions of the Constitution of the State of Illinois of 1970, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the City is the owner of the real property legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, The Stony Group LLC, an Illinois limited liability company ("Grantee"), whose business address is 6918 S. Dorchester Avenue, Chicago, Illinois 60637, has offered to purchase the Property from the City for the sum of Eleven Thousand and No/100 Dollars ($11,000.00), such amount being the appraised fair market value of the Property subject to a deed restriction limiting the use of the Property to parking in perpetuity, for the purpose of constructing a parking lot thereon; and
WHEREAS, pursuant to Resolution No. 14-034-21 adopted on May 15, 2014, the Plan Commission of the City (the "Commission") has approved the negotiated sale of the Property to the Grantee; and
WHEREAS, public notices advertising the City's intent to enter into a negotiated sale of the Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on April 24, 2014 and May 1, 2014; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notices; now, therefore,
BE IT ORDAINED BY THE CITY COUNCiL OF THE CITY OF CHICAGO:
SECTION 1. The City Council of the City hereby approves the sale of the Property t...
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