OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
September 11, 2013
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 the city-owned property.
Your favorable consideration of these ordinances will be appreciated.
Mayor
Very truly yours,
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; now, therefore,
WHEREAS, the City is the owner of the vacant parcel of property located at 7801 S. Cottage Grove Avenue, Chicago, Illinois, which is legally described on Exhibit A attached hereto ("Property"), which Property is located in the 87lh/Cottage Grove Tax Increment Financing Area ("Area") established pursuant to ordinances adopted by the City Council of the City on November 13, 2002, published in the Journal of Proceedings of the City Council for such date at pages 97440 through 97516; and
WHEREAS, 7838 Cottage Grove Building Corp. ("Grantee"), with a principal place of business at 7838 S. Cottage Grove Ave., Chicago, Illinois, 60619, has offered to purchase the Property from the City for the sum of One Hundred Forty-Eight Thousand and No/100 Dollars ($148,000.00), such amount being the appraised fair market of the Property with a parking lot in perpetuity deed restriction, for the purpose of constructing a parking lot thereon; and
WHEREAS, pursuant to Resolution No. 13-044-21 adopted on July 18, 2013, the Plan Commission of the City of Chicago (the "Commission") has 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 proposa...
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