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This record contains private information, which has been redacted from public viewing.
Record #: O2014-5002   
Type: Ordinance Status: Passed
Intro date: 6/25/2014 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 7/30/2014
Title: Sale of City-owned property at 4730 S Cicero Ave to Undel Corp.
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2014-5002.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
June 25,2014









TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith ordinances authorizing the sale of 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 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 4730 S. Cicero Avenue, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Cicero/Archer Redevelopment Project ("Area") established pursuant to ordinances adopted by the City Council of the City on May 17, 2000, published in the Journal of Proceedings of the City Council for such date at pages 31380 through 31518; and

WHEREAS, Undel Corp., ("Grantee"), located at 9034 Kingston Lane, Orland Park, Illinois 60462, has offered to purchase the Property from the City for the sum of Fifty-Eight Thousand and No/100 Dollars ($58,000.00), such amount being the appraised fair market value ofthe Property, to improve with a parking lot thereon; and

WHEREAS, pursuant to Resolution No. 14-043-21 adopted on June 19, 2014, 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 ofthe Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on May 12, 2014, and May 19, 2014; and

WHEREAS, no alternative proposals were received by th...

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