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This record contains private information, which has been redacted from public viewing.
Record #: SO2014-7538   
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 4536 S Prairie Ave to Brent and Wendy Watson
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2014-7538.pdf, 2. SO2014-7538.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 parcel of property located at 4536 South Prairie Avenue, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"), which property is located in the 47th King Drive Redevelopment Project Area ("Area") established pursuant ordinances adopted by the City Council of the City on March 27, 2002, published in the Journal of Proceedings ofthe City Council for such date at pages 81232 through 81474; and

WHEREAS, Brent and Wendy Watson ("Grantees"), 4540 South Prairie Avenue, Chicago, Illinois 60653, have offered to purchase the Property with an appraised market value of $50,000.00 from the City for the sum of Seven Thousand and No/100 Dollars ($7,000.00), to be used in conjunction with their adjacent property; and

WHEREAS, pursuant to Resolution No. 14-070-21 adopted on July 17, 2014, by the Plan Commission of the City of Chicago (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantees; and

WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Property with the Grantees and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on July 9, and 16, 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 Property to the Grantees for the amount of Seven Thousand and No/100 Dollars ($7,000.00).
SECTION 2. The Mayor or his proxy is authorized to execute, and the City Clerk or Deputy City Clerk i...

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