OFFICE OF THE MAYOR CITY OF CHICAGO
RAHM EMANUEL
MAYOR
October 3, 2012
TO THE HONORABLE. THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing and Economic 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 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 approximately 4,500 square foot parcel of real property improved with a vacant fire house located at 2100 West Eastwood Avenue, Chicago, Illinois, and which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, the appraised market value of the Property is Three Hundred Fifteen Thousand and no/Dollars ($315,000.00); and
WHEREAS, Eric Arvin and Irene Renieris (collectively, the "Grantee"), 3232 N. Halsted Street, Unit D609, Chicago, IL 60657, have offered to purchase the Property from the City for the sum of Three Hundred and Fifty Thousand and No/100 Dollars ($350,000.00), with the intent of converting the structure to a single family residence for the Grantee's personal use; and
WHEREAS, by Resolution No. 12-058-21 adopted on September 20, 2012, the Chicago Plan Commission recommended that the City through its Department of Housing and Economic Development ("DHED") enter into a negotiated sale with the Grantee for the purchase of the Property; and
WHEREAS, the property was marketed by the City's real estate broker, Jones Lang LaSalle, pursuant to the terms of their master consulting agreement, with the transaction subject to a five percent broker commission credited against an $8,300 upfront fee; and
WHEREAS, public notice adve...
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