OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
December 9, 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 2025 W. George Street, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, by ordinance adopted by the City Council of the City ("City Council") on April 26, 2006 and published in the Journal of Proceedings of the City for such date at pages 75220 to 75226, the City Council approved the negotiated sale of the Property to Ihor Ralko for Three Hundred Twenty Thousand and No/100 Dollars ($320,000), and whereas Ihor Ralko declined to purchase 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 Six Hundred Twenty-Five Thousand and No/100 Dollars ($625,000), which exceeded the Property's appraised fair market value of Five Hundred Twenty Thousand and No/100 Dollars ($520,000); and
WHEREAS, no responsive bids were received; and
WHEREAS, a second 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 Five Hundred Twenty Thousand and No/100 Dollars ($520,000), which equal...
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