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This record contains private information, which has been redacted from public viewing.
Record #: O2014-7368   
Type: Ordinance Status: Passed
Intro date: 9/10/2014 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 10/8/2014
Title: Sale of City-owned property at 716-718 N Monticello Ave to Chicago Commons Assn.
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2014-7368.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
September 10,2014









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 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; and
WHEREAS, the City is the owner of the vacant parcel of property located at 716-18 N. Monticello Avenue, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Chicago/Central Park Redevelopment Project Area ("Area") established pursuant to ordinances adopted by the City Council of the City on February 27, 2002, published in the Journal of Proceedings of the City Council for such date at pages 79794 through 80025; and

WHEREAS, Chicago Commons Association, an Illinois not-for-profit corporation ("Grantee"), 515 E. 50th Street, Chicago, Illinois 606215, has offered to purchase the Property from the City for the sum of Eighteen Thousand Six Hundred and No/100 Dollars ($18,600.00), such amount being the appraised fair market value of the Property, to improve with landscaped open space thereon; and
WHEREAS, pursuant to Resolution No. 14-042-21 adopted on June 19, 2014, by the Plan Commission ofthe 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 1...

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