This record contains private information, which has been redacted from public viewing.
Record #: O2017-3321   
Type: Ordinance Status: Passed
Intro date: 4/19/2017 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 5/24/2017
Title: First amendment to deed restrictions for property at 313 N Whipple St and 3024-3030 W Fulton Blvd and sale to Fulton-Whipple LLC for construction of natural or artificial turf athletic field or surface parking lot
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Transfer
Attachments: 1. O2017-3321.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
April 19,2017










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 ordinance authorizing a release of covenants in connection with a sale of property to Fulton Whipple, LLC.

Your favorable consideration of this ordinance will be appreciated.

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, pursuant to an ordinance adopted by the City Council of the City on September 5, 2007, and published at pages 6621 through 6623 in the Journal of the Proceedings of the City Council ("Journal") of such date, the City conveyed the real property located at 313 North Whipple Street and 3024-30 West Fulton Boulevard, as legally described on Exhibit A attached hereto (the "Property"), to Fulton-Whipple, LLC, an Illinois limited liability company ("Owner"), for One Hundred Seventy Thousand and No/100 Dollars ($170,000); and

WHEREAS, the City transferred the Property by Quitclaim Deed dated December 21, 2007, and recorded in the Office of the Recorder of Deeds of Cook County, Illinois, on December 21, 2007, as Document No. 07355531025 (the "Deed"); and

WHEREAS, the conveyance of the Property to the Owner'was subject to the express conditions that: (1) a parking lot be constructed on the Property within twelve (12) months from the date of the Deed; (2) the Property be used as a parking lot in perpetuity; and (3) parking spaces constructed on the Property not be sold or deeded to individual owners or leased for a period in excess of one year, except in connection with the sale of the Property or the sale of membership interests in the Owner; and
WHEREAS, the Dee...

Click here for full text