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Record #: O2013-5585   
Type: Ordinance Status: Passed
Intro date: 7/24/2013 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 9/11/2013
Title: Sale of City-owned property at 5610-5614 S Racine Ave to Damon D Perry
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2013-5585.pdf
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 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 5610-14 South Racine Avenue, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, Damon D. Perry, 5608 South Racine Avenue, Chicago, Illinois 60636, has offered to purchase the Property from the City for the sum of Ten Thousand and No/100 Dollars ($10,000.00), such amount being the appraised fair market value of the Property, to improve with a landscaped open space thereon; and

WHEREAS, pursuant to Resolution No. 13-040-21 adopted on June 20, 2013, 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 April 12, 2013 and April 19, 2013; 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 Grantee for the amount of Ten Thousand and No/100 Dollars ($10,000.00).

SECTION 2. The Mayor or his proxy is authorized to execute, and the City Clerk or Deputy City Clerk is authorized to attest, a quitclaim deed conveying the Property to the Grantee. The quitclaim deed shall also contain language substantially in the following form:
This conveyance is subject to the express condition that the Property is improved with landscaped open space within six (6) mont...

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