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Record #: SO2014-7427   
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 2745 W Madison St and 2749-2755 W Madison St to Wells Temple of Deliverance Church
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2014-7427.pdf, 2. SO2014-7427.pdf
SUBSTITUTE 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 parcels of properties located at 2745 West Madison Street and 2749-55 West Madison Street, Chicago, Illinois, which are legally described on Exhibit A attached hereto (the "Properties"), which properties are located in the Midwest Redevelopment Project Area ("Area") established pursuant 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 30771 through 30953; and
WHEREAS, Wells Temple of Deliverance Church ("Grantee"), 2739 West Madison Street, Chicago, Illinois 60612, has offered to purchase the Properties with an appraised market value of $62,000.00 from the City for the sum of Sixty-two Thousand and No/100 Dollars ($62,000.00), to be used in conjunction with its adjacent property; and
WHEREAS, pursuant to Resolution No. 14-076-21 adopted on August 21, 2014, by the Plan Commission of the City of Chicago (the "Commission"), the Commission approved the negotiated sale of the Properties to the Grantee; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Properties with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on August 7 and 14, 2014; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now, therefore,

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

SECTION 1. The City Council of the City hereby approves the sale of the Properties to the Grantee for the amount of Sixty-two Thousand and No/100 Dollars ($62,000.00).
SECTION 2. The Mayor or his proxy is authorized to ex...

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