COMMERCIAL 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 413-415 S. Wells Street are owned by Chicago Title Land Trust Company, as Successor Trustee under trust agreement dated March 12, 1996 and known as TRUST NUMBER 1-2434; and
WHEREAS, the beneficiary of Chicago Title Land Trust Company, as Successor Trustee under trust agreement dated March 12, 1996 and known as TRUST NUMBER 1-2434, proposes to fence, secure and use the portion of the alley to be vacated herein for fire escape access, parking and drop off; and
WHEREAS, the City Council of the City of Chicago, after due investigation and consideration, has determined that the nature and extent of the public use and the public interest to be subserved is such as to warrant the vacation of part of public alley, and opening of a portion of S. Financial Place as currently built and traveled; both as described in the following ordinance; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO: SECTION 1.
An Opening of S. Financial Place for use as a Public Street in Section 16, Township 39 North, Range 14, East of the Third Principal Meridian, City of Chicago, Cook County, Illinois described as follows;
The East 23 feet of Lot 7 in Micajah Glascock's Subdivision and the North - South 12 foot wide public alley lying East of the East line of Lots 1 through 6 and, said 12 foot wide public alley extended 10 feet South of the South line of Lot 6 extended East; also the 10 foot wide East - West Alley lying South of said Lot 7, all in Micajah Glascock's Subdivision of part of Block 99 in School Section Addition to Chicago, according to the Plat thereof recorded September 19, 1866 as Document number 123151 (Ante-Fire), all in the City of Chica...
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