OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
January 15,2014
TO THE 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.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe 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 vacant parcel of property located at 2701-07 W. Madison Street, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Midwest Redevelopment Project Area ("Area") established pursuant to ordinances adopted by the City Council of the City on May 17, 2000, published in the Journal of Proceedings ofthe City Council for such date at pages 30775 through 30953; and
WHEREAS, Shankar Vuyyuru ("Grantee"), 2727 W. Madison Street, Chicago, Illinois 60612, has offered to purchase the Property from the City for the sum of Thirty Thousand and No/100 Dollars ($30,000.00), such amount being the appraised fair market value ofthe Property, to improve with a parking lot thereon; and
WHEREAS, pursuant to Resolution No. 13-074-21 adopted on December 19, 2013, by the Plan Commission of the City of Chicago (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantee; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale ofthe Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on December 20, 2013, and December 27, 2013; and
WHEREAS, no alternative proposals were recei...
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