Office of the City Clerk - Record #: O2015-2721

• Record #: O2015-2721
• Type: Ordinance
• Status: Passed
• Intro date: 4/15/2015
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 5/6/2015
• Title: Sale of City-owned property at 100 S California Ave to Jeremy Todd Productions LLC
• Sponsors: Emanuel, Rahm
• Topic: PROPERTY - Sale

Date	Journal Page Number	Action By	Action	Result
5/6/2015	108316	City Council	Passed	Pass
4/29/2015		Committee on Housing and Real Estate	Recommended to Pass	Pass
4/15/2015	105539	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

April 15,2015









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; now, therefore,
WHEREAS, the ("City"), is the owner of the vacant parcels of property located at 100 S. California Ave. and 2809 W. Monroe St., Chicago, Illinois, which are legally described on Exhibit A attached hereto ("Property"), which Property is located in the Midwest Tax Increment Financing Area ("Area") established pursuant to ordinance adopted by the City Council of the City on May 17, 2000, published in the Journal of Proceedings of the City Council for such date at pages 30775 through 30953; and

WHEREAS, Jeremy Todd Productions, L.L.C. ("Grantee"), P.O. Box 480104, Niles, Illinois, 60714, has offered to purchase the Property from the City for the sum of Two Thousand Five Hundred and No/100 Dollars ($2,500.00), such amount being the appraised fair market of the Property with an open space in perpetuity deed restriction, to improve with landscaped open space thereon; and

WHEREAS, pursuant to Resolution No. 15-034-21 adopted on March 19, 2015, by the Plan Commission of the City of Chicago (the "Commission"), the Commission approved the negotiated sale of the Property of 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 circu...