OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
December 15, 2021
TO TME HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Commissioner of Planning and Development, I transmit herewith ordinances authorizing the sale of City-owned property.
Your favorable consideration of these ordinances will be appreciated.
Very truly yours.
V
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ORDINANCE
WHEREAS, the City of Chicago (the "City") is a municipal corporation and home rule unit of government under Article VII, Section 6(a) ofthe 1970 Constitution ofthe State of Illinois, 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 two condominium units - Units "UGP-2" and "MR" located at 1300 N. Astor Street. Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, the City, took ownership ofthe Property in 2000, through a donation from the family of the then current owner, and for the next decade, the Department of Cultural Affairs and Special Events (DCASE) attempted to rent the space for weddings and other special events; and
WHEREAS, the City has not actively used the Property for several years, despite the fact that the City has continued to pay condominium assessments and related costs as part of the City's ownership of the Property; and
WHEREAS, the City has attempted to sell the Property previously, specifically via auction in 2013, which auction failed to generate an acceptable offer, and via negotiated sale in 2015, which negotiation failed to reach closure; and
WHEREAS, the City had the Property appraised at a value of Six Hundred Eight Thousand and No/100 Dollars ($680,000.00) by the Polach Appraisal Group in a report dated June 29, 2021 (the "Appraised Value"); and
WHEREAS, 24 E. GOETHE LLC ("Buyer"), 980 N. Michigan Ave., Suite 1400, Chicago, IL 60611, offered to purchase the Property fro...
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