Share to Facebook Share to Twitter Bookmark and Share
Record #: O2012-8051   
Type: Ordinance Status: Passed
Intro date: 11/15/2012 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 12/12/2012
Title: Sale of City-owned property at 5248-5250 W Ohio St to Collier Scott 601, LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2012-8051.pdf
HSG-


OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR


November 15, 2012








TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO

Ladies and Gentlemen:

At the request of the Commissioner of Housing and Economic Development, I transmit herewith ordinances authorizing the sale of City-Owned property

Your favorable consideration of these ordinances will be appreciated.

Very truly yours,

Mayor
ORDINANCE

WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe State of Illinois of 1970, and, as such, may exercise any pdwer and perform any function pertaining to its government and affairs; and

WHEREAS, the City is the owner of the 2,080 square foot parcel of real property located at 5248-5250 West Ohio Street, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and

WHEREAS, Collier Scott 601, LLC ("Grantee"), 632 West Barry Street, Chicago, Illinois 60657, has offered to purchase the Property from the City for the sum of Eight Hundred and No/100 Dollars ($800.00), such amount being the appraised fair market value of the Property as if unimproved, to improve with landscaped open space that part of the Property which is not currently improved with a garage; and

WHEREAS, pursuant to Resolution No. 12-059-21 adopted on September 20, 2012, by the Plan Commission of the City of Chicago (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 Chicago Sun-Times, a newspaper of general circulation, on October 4, 2012 and October 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 ...

Click here for full text