OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
March 29, 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 ordinances authorizing sale of city-owned property.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
AN ORDINANCE OF THE CITY OF CHICAGO, ILLINOIS AUTHORIZING THE NEGOTIATED SALE AND CONVEYANCE OF CITY LAND TO McBREARTY CONSTRUCTION, CO. INC., AND DESIGNATING McBREARTY CONSTRUCTION, CO. INC., AS DEVELOPER
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 commonly known as 4811 S. St. Lawrence Ave, Chicago, Illinois 60655 (the "Property"), which is legally described on Exhibit A attached hereto; and
WHEREAS, the appraised value of the Property as of November 4, 2016, is $64,000;
and
WHEREAS, McBrearty Construction Co. Inc., (the "Developer") has submitted a proposal to the Department to purchase the Property for $64,000 in order to construct two (2) market-rate, detached single-family homes (the "Project"); and
WHEREAS, the Developer has agreed to undertake the construction of the Project pursuant to the terms and conditions of a redevelopment agreement in substantially the form attached hereto as Exhibit B (the "Redevelopment Agreement"); and
WHEREAS, by Resolution No. 17-021-21, adopted on March 16, 2017, the Chicago Plan Commission approved the sale of the City Property to the Developer; and
WHEREAS, public notices advertising the Department's intent to enter into a negotiated sale of the City Property with the Developer and requesting alternative proposals appeared in the Chicago Sun-Times on March 20th, Ma...
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