Office of the City Clerk - Record #: O2014-2406

• Record #: O2014-2406
• Type: Ordinance
• Status: Passed
• Intro date: 4/2/2014
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 4/30/2014
• Title: Sale of City-owned property at 5720 N Ridge Ave to Chicago Filmmakers
• Sponsors: Emanuel, Rahm
• Topic: PROPERTY - Sale

Date	Journal Page Number	Action By	Action	Result
4/30/2014	79584	City Council	Passed	Pass
4/23/2014		Committee on Housing and Real Estate	Recommended to Pass	Pass
4/2/2014	76568	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

April 2, 2014









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 (the "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 owns the real property commonly known as 5720 N. Ridge Avenue, Chicago, Illinois 60660, and legally described on Exhibit A attached hereto (the "Land." and together with all improvements located thereon, the "Property"); and

WHEREAS, the Land is improved with a vacant, former firehouse ("Firehouse") and surface parking lot; and

WHEREAS, the Firehouse was designated a Chicago Landmark on October 1,2003, and the significant historical and architectural features of the Firehouse are all exterior elevations and rooflines visible from the public rights-of-way; and

WHEREAS, by Resolution No. 14-001 -21, adopted by the Plan Commission of the City of Chicago (the "Plan Commission") on January 16,2014, the Plan Commission recommended the sale of the Property; and

WHEREAS, the City's Department of Housing and Economic Development, the predecessor department to the City's Department of Planning and Development (the "Department"), issued a request for proposals ("REP") for the sale and redevelopment of the Property; and

WHEREAS, public notices advertising the RFP appeared in the Sun-Times on January 21 and 28, and February 14, 2014; and

WHEREAS, the RFP set a target price of Three Hundred Sixty Thousand and 00/100 Dollars ($360,000), which was the fair market value of the Property based on ...