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This record contains private information, which has been redacted from public viewing.
Record #: O2015-144   
Type: Ordinance Status: Passed
Intro date: 1/21/2015 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 3/18/2015
Title: Sale of City-owned property at 1346 W Erie St to 1806 W. Belmont LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2015-144.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

January 21, 2015










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 1346 W. Erie Street, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, public notice advertising the City's intent to sell the Property appeared in the Chicago Sun-Times, a newspaper of general circulation, on June 13, 20, and 27, 2014 at a listing price of Two Hundred Ten Thousand and No/100 Dollars ($210,000), which exceeded the Property's appraised fair market value of One Hundred Seventy-Five Thousand and No/100 Dollars ($175,000); and

WHEREAS, no responsive bids were received; and

WHEREAS, public notice advertising the City's intent to sell the Property appeared in the Chicago Sun-Times, a newspaper of general circulation, on September 25, October 2 and October 9, 2014 at a listing price of One Hundred Seventy-Five Thousand and No/100 Dollars ($175,000), such amount being the aforementioned appraised fair market value ofthe Property; and

WHEREAS, two responsive bids were received; and

WHEREAS, the higher of the two responsive bids was submitted by 1806 W. Belmont . LLC, an Illinois limited liability company with a principal business address of 27W145 Galusha Avenue, Warrenville, Illinois 60655 (the "Grantee"), in the amount of One Hundred Eighty Thousand and No/100 ...

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