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This record contains private information, which has been redacted from public viewing.
Record #: O2015-2728   
Type: Ordinance Status: Passed
Intro date: 4/15/2015 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 5/6/2015
Title: Sale of City-owned property at 1223 W 49th Pl to Miguel Rico
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2015-2728.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

April 15,2015









TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the 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 1223 West 49th Place, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, the Property was initially offered for sale under the Adjacent Neighbors Land Acquisition Program, as codified at Municipal Code Chapter 2-159-010 et seq. (the "ANLAP Program"), to the neighboring property owners at 1221 W. 49th Place and 1225 W. 49th Place; and

WHEREAS, after ordering the appraisal for the Property, the Department determined that the fair market value of the Property was less than the minimum ANLAP Program bid of $1,000 and therefore decided to sell the Property via negotiated sale so that the Property could be sold for its fair market value; and

WHEREAS, Miguel Rico (the "Grantee"), of 1225 W. 49th Place, Chicago, Illinois 60609, offered to purchase the Property from the City for Six Hundred and No/100 Dollars ($600), such amount being the appraised fair market value of the Property, to improve with landscaped open space thereon; and

WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on December 2 and December 9, ...

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