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 4210 North Normandy Avenue (formerly known as 4230 North Normandy Avenue), Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Chicago Read/Dunning Redevelopment Project Area ("Area") established pursuant to ordinances adopted by the City Council of the City on January 11, 1991, published in the Journal of Proceedings of the City Council for such date at pages 28768 through 28829; and
WHEREAS, Patricia Ann Schoenberg and Bruce Alfred Schoenberg ("Grantees"), 6181 North Prescott Avenue, Chicago, Illinois 60646, have offered to purchase the Property from the City for the sum of Two Hundred Sixty-four Thousand and No/100 Dollars ($264,000.00), such amount being the appraised fair market value of the Property, to improve with industrial open space thereon; and
WHEREAS, pursuant to Resolution No. 12-060-21 adopted on September 20, 2012, by the Plan Commission of the City (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantees; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Property with the Grantees and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on May 4, 2012, and May 11, 2012; 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 1. The City Council of the City hereby approves the sale of the Property to the Grantees for the amount of Two Hundred Sixty-four Thousand and N...
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