COMMERCIAL VACATION ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of local government pursuant to Article VII, Section 6 (a) of the 1970 Constitution of the State of Illinois and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the properties at 933-957 W. Kinzie Street, 901-925 W. Kinzie Street, 364-372 N. Sangamon Street, and 365-373 N. Sangamon Street are owned by Fulton Market 375 LLC, an Illinois limited liability company ("Developer"); and
WHEREAS, the Developer proposes to use the portion of the streets to be vacated herein for construction of a thirty-three story office building; and
WHEREAS, the City Council of the City of Chicago, after due investigation and consideration, has determined that the nature and extent ofthe public use and the public interest to be subserved is such as to warrant the vacation of those portions ofthe public streets, described in this ordinance; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. VACATION OF:
THAT PART OF W. KINZIE STREET PUBLIC RIGHT OF WAY, BEING A STRIP OF LAND 15.50 FEET WIDE, IN THE EAST 1/2 OF THE SOUTHEAST 1/4 OF SECTION 8, TOWNSHIP 39 NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: BEGINNING AT THE POINT OF INTERSECTION OF THE EAST RIGHT OF WAY LINE OF N. MORGAN STREET AND THE DIVISION LINE BETWEEN THE LANDS OF THE CHICAGO AND NORTHWESTERN RAILWAY COMPANY AND THE LAND OF THE PITTSBURGH, CINCINNATI AND CHICAGO AND ST. LOUIS RAILWAY COMPANY AS ESTABLISHED BY AGREEMENT DATED FEBRUARY 11, 1903 AND RECORDED AS DOCUMENT NUMBER 13028398 ON FEBRUARY 9,1943; THENCE NORTH 00 DEGREES 23 MINUTES 50 SECONDS WEST, ALONG SAID THE EAST RIGHT OF WAY LINE OF NORTH MORGAN STREET, A DISTANCE OF 15.50 FEET TO THE NORTHWEST CORNER THEREOF; THENCE NORTH 90 DEGREES 00 MINUTES 00 SECONDS EAST, ALONG A LINE BEING PARALLEL TO SAID THE DIVISION LINE, A DISTANCE OF 569.11 FEE...
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