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OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 24, 2013
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Board of Education, I transmit herewith an ordinance authorizing a sale of property located at 5051 West Polk.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
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ORDINANCE FOR ACCEPTANCE OF BID OF ALPHA BAKING COMPANY, INC. FOR PURCHASE OF BOARD OF EDUCATION OF CITY OF CHICAGO PROPERTY AT 5051 WEST POLK STREET
WHEREAS, the City of Chicago (the "City"), is a home rule unit of government under Article VII, Section 6(a) of the 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 Board of Education of the City of Chicago (the "Board"), is a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois, 105 ILCS 5/1-1, et seq. (the "School Code"); and
WHEREAS, the Board is the owner of real estate located at 5051 West Polk Street which consists of approximately 5.67 vacant acres of land, as legally described on Exhibit A, attached hereto ("Property"); and
WHEREAS, pursuant to Resolution Number 13-0522-OP3 (the "Resolution"), adopted by the Board on May 22, 2013, the Board approved the sale ofthe Property; and
WHEREAS, title to the Property is currently held by the City, as Trustee, in Trust for the Schools; and
WHEREAS, the Resolution includes a recommendation to request the City Council Committee on Housing and Real Estate of the City of Chicago the sale of said Property, as in accordance with Section 34-21 (d)(1) ofthe School Code; and
WHEREAS, pursuant to Section 34-21 (b)(1) of the School Code, by vote of no less than two-thirds (2/3) of its full membership, the Board has determined that the Property has become unnecessary, unsuitable, and unprofitable for the use of the schools or for the purposes of school administration, and that the sale of the Property constitutes the best available use of such real estate for the purpose of deriving revenue to support the Board's authorized purposes; and
WHEREAS, the Board advertised for sale and received one bid for the Property, which bid was open in the Board's Department of Procurement and Contracts on May 1, 2013, the closing bid date; and
WHEREAS, one appraisal was made for the Property indicating the fair market value of the real estate is as follows:
Appraisal Associates
As of May 6, 2013
Market Value: $1,000,000; and
WHEREAS, the Board has, by a vote of not less than two-thirds of its full membership on its meeting on May 22, 2013, recommended that the acceptance of the bid from Alpha Baking Company, Inc., an Illinois corporation, located at 4545 West Lyndale Avenue, Chicago, Illinois, in the amount of One Million and No/100 Dollars ($1,000,000) be accepted; now, therefore,
Be It Ordained by the City Council of the City of Chicago:
Section 1. That the City of Chicago hereby accepts the bid of Alpha Baking Company, Inc. located at 4545 West Lyndale Avenue, Chicago, Illinois 60639, to purchase the Property which is no longer necessary, appropriate, required for the use of, profitable to or for the best interests of the Board of Education of the City of Chicago and/or the City of Chicago.
Section 2. That the Mayor, or his designee, and the City Clerk are authorized to sign and attest a deed conveying to Alpha Baking Company, Inc., all rights of the City of Chicago in Trust for the Use of Schools in and to said Property.
Section 3. This Ordinance shall take effect upon its passage and approval.
Honorable Michael D. Chandler Alderman, 24th Ward
EXHIBIT A
LEGAL DESCRIPTION
LOTS 185 AND LOT 186 (EXCEPT THAT PART TAKEN FOR STREETS) AND THAT PART OF LOT 200 LYING EAST OF THE EAST LINE OF LARAMIE AVENUE IN SCHOOL TRUSTEES SUBDIVISION OF THE NORTH PART OF SECTION 16, TOWNSHIP 39 NORTH, RANGE 13, EAST OF THE THIRD PRINCIPAL MERIDIAN,
ALSO
THE EAST 1/2 OF VACATED LEAMINGTON AVENUE WEST AND ADJOINING LOT 186
ALSO
THAT PART VACATED LEAMINGTON AVENUE LYING WEST OF AND ADJOINING THE WEST LINE OF SAID LOT 185 AND EAST OF AND ADJOINING THE EAST LINE OF SAID LOT 200 AND SOUTH OF THE NORTH LINE OF SAID LOT 200 EXTENDED EAST TO THE NORTHWEST CORNER OF SAID LOT 185, AND NORTH OF THE NORTHERLY LINE OF THE RIGHT OF WAY OF THE OLD CHICAGO, ST. CHARLES AND MISSISSIPPI AIRLINE RAILROAD COMPANY, ALL IN COOK COUNTY, ILLINOIS.
Commonly known as: 5051 West Polk Street, Chicago, Illinois P.I.N.s: 16-16-406-010-0000 and 16-16-309-008-0000
CHECKLIST
SALE OF CHICAGO BOARD OF EDUCATION PROPERTY
ADDRESS OF PROPERTY: 5051 W. Polk Street, Chicago
TITLE HOLDER OF RECORD: City of Chicago in Trust for the Use of Schools
WARD: 24th
ALDERMAN: Michael Chandler
LOT SIZE: 5.67 Acres
ZONING: Ml-2 Restricted Manufacturing District
PIN NUMBERS: 16-16-406-010 and 16-16-309-008
EXISTING STRUCTURES: Vacant land
APPRAISED VALUE: $1,000.000
FINAL SALES PRICE: $1.000.000
PURCHASER: Alpha Baking Company. Inc.
FUTURE USE: Expansion of bakery and industrial plant
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