OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
November 16,2016
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 3620-32 South Loomis Place, Chicago, Illinois 60609, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the 35th/Halsted Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City ("City Council") on January 14, 1997, published in the Journal of Proceedings of the City Council for such date at pages 36947 through 37323.
WHEREAS, B.E.T.O.N. Construction Co. (the "Grantee"), with a principal business address of 1415 West 37th Street, Chicago, Illinois 60609, has offered to purchase the Property from the City for the sum of One Hundred Sixty-five Thousand and 00/100 Dollars ($165,000.00), such amount being the appraised fair market value of the Property, to improve as an outdoor storage for building materials and construction equipment thereon; and
WHEREAS, pursuant to Resolution No. 16-068-21 adopted on August 18, 2016, 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 ...
Click here for full text