COMMERCIAL ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of local government pursuant to Article VII, Section 6 (a) ofthe 1970 constitution ofthe 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 801-809 N. LaSalle Street and 116-128 W. Chicago Avenue are owned by Smithfield Properties XVI, L.L.C, and 811-821 N. LaSalle Street is owned by the Moody Bible Institute of Chicago which has quit claimed its interests in the alleys to be vacated unto Smithfield Properties XVI, L.L.C; and
WHEREAS, Smithfield Properties XVI, L.L.C proposes to use the portion ofthe alleys to be vacated herein for construction of a multistory, mixed use residential and commercial development; and
WHEREAS, the City Council of the City of Chicago, after due investigation and consideration, has determined that the nature and extent ofthe public use and the public interest to be subserved is such as to warrant the vacation of part of public alleys, described in the following ordinance; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. THAT PART OF THE PUBLIC ALLEY OPENED IN THE ASSESSOR'S DIVISION OF THE WEST HALF OF BLOCK 3 OF BUSHNELL'S ADDITION TO CHICAGO IN SECTION 4, TOWNSHIP 39 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN RECORDED JANUARY 23,1902 AS DOCUMENT 3199131, DESCRIBED AS FOLLOWS: BEGINNING AT A NORTHEAST CORNER OF SAID ALLEY; THENCE SOUTH 00o09'41" EAST ALONG THE EAST LINE THEREOF 10.00 FEET TO THE SOUTHERLY LINE OF EAST-WEST PORTION THEREOF; THENCE NORTH 89057'15" WEST ALONG SAID SOUTHERLY LINE OF ALLEY 44.92 FEET TO A BEND THEREIN; THENCE SOUTH 44055'57" WEST ALONG SAID SOUTHERLY LINE OF ALLEY 7.06 FEET TO THE EASTERLY LINE OF NORTH-SOUTH PORTION THEREOF; THENCE SOUTH 00o10'20" EAST ALONG SAID EASTERLY LINE OF ALLEY 27.33 FEET TO THE NORTHEAST CORNER OF THAT PART PREVIOUSLY VACATED BY ORDINANCE RECORDED NOVEMBE...
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