This record contains private information, which has been redacted from public viewing.
Record #: O2015-6563   
Type: Ordinance Status: Passed
Intro date: 9/24/2015 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 11/18/2015
Title: Sale of City-owned property at 3427 W Madison St to SCG Oak Street LLC Garfield Park Series
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2015-6563.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

September 24, 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 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 3427 West Madison Street, Chicago, Illinois 60624, which is legally described on Exhibit A attached hereto (the "Property"), which property is 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, SCG Oak Street LLC Garfield Park Series (the "Grantee"), of 2037 West Carroll Avenue, Chicago Illinois 60612, has offered to purchase the Property from the City for the sum of Fifty-seven Thousand and No/100 Dollars ($57,000.00), such amount being the appraised fair market value of the Property, to improve with a parking lot thereon; and

WHEREAS, pursuant to Resolution No. 15-076-21 adopted on August 20, 2015, by the Plan Commission of the City of Chicago (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantee; 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 August 12, 2015 and August 19, 2015; and

WHERE...

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