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 7500-7558 S. Laflin Street and 7501-7559 S. Ashland Avenue are owned by Gendell Partners 75th/Ashland LLC; and
WHEREAS, Gendell Partners 75t7Ashland LLC ("Gendell") proposes to assemble the surrounding lots and the portion ofthe alley to be vacated herein for 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 alley, described in the following ordinance; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. THE NORTH-SOUTH 18 FOOT PUBLIC ALLEY IN J.R. LANE'S SUBDIVISION OF BLOCK 19 IN JONES SUBDIVISION OF THE WEST HALF OF SECTION 29, TOWNSHIP 38 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN PER DOCUMENT 1540324 RECORDED SEPTEMBER 23,1891 LYING WEST OF AND ADJOINING LOTS 1 THROUGH 24, INCLUSIVE, AND LYING EAST OF AND ADJOINING LOTS 25 THROUGH 48, INCLUSIVE, IN SAID J.R. LANE'S SUBDIVISION, LYING NORTH OF AND ADJOINING THE NORTH LINE OF WEST 76TH STREET AND LYING SOUTH OF AND ADJOINING THE SOUTH LINE OF VACATED WEST 75TH STREET, ALL IN COOK COUNTY, ILLINOIS. SAID PARCEL OF LAND HEREIN DESCRIBED CONTAINS 10,748 SQUARE FEET OR 0.247 ACRES, MORE OR LESS, as shaded and legally described by the words "HEREBY VACATED on the plat hereto attached as Exhibit A, which drawing for greater clarity, is hereby made a part of this ordinance, be and the same is hereby vacated and closed, inasmuch as the same is no longer required for public use and the public interest will be subserved by such vacation.
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