OFFICE OF THE MAYOR
CITY OF CHICAGO
Rahm emanuel
MAYOR
March 18,2015
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 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 vacant parcel of property located at 4332-34 South Drexel Boulevard, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, 4336 Drexel, L.L.C, A Series of Redel Rentals, L.L.C, a Limited Liability Company (the "Grantee"), with a principal business address of P.O. Box 21528, Chicago, Illinois 60621, has offered to purchase the Property from the City for the sum of One Hundred Thirty Two Thousand Three Hundred Fifty Three and No/100 Dollars ($132,353.00), such amount being the appraised fair market value ofthe Property, to improve with a parking lot thereon; and
WHEREAS, pursuant to Resolution No. 14-121-21 adopted on December 18, 2014, by the Plan Commission of the City (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 of the Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on December 31, 2014 and January 7, 2015; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION ...
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