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 Transportation, I transmit herewith an ordinance authorizing a property exchange with Lakeside Development, LLC.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
/
I
ORDINANCE
WHEREAS, the City of Chicago 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 acquired certain parcels of property from various property owners for use by the City in connection with the US 41 Relocation Project (the "Project"); and
WHEREAS, the parcels of property legally described on Exhibit B-1 and shown on Exhibit B-2 attached hereto as Parcel 1 ("Parcel 1") and Parcel 2 ("Parcel 2") were not used by the City for the Project; and
WHEREAS, Chicago Lakeside Development, LLC, a Delaware limited liability company, (the "Developer") is interested in acquiring Parcel 1 and Parcel 2 from the City for the purpose of maintaining a public park ("Triangle Park"); and
WHEREAS, in exchange for a quitclaim deed, subject to those certain permitted exceptions in the deed ("Deed"), from the City for Parcel 1, and the vacation of Parcel 2, Developer has agreed to dedicate to the City the following parcels of property: (1) a 33-foot wide strip of land legally described on Exhibit A-1 and shown on Exhibit A-2 attached hereto to be improved by the City as 86th Street between South Green Bay Avenue and South Burley Avenue; and (2) a 66-foot wide strip of land legally described on Exhibit C-1 and shown on Exhibit C-2 attached hereto to be improved by the City as 84th Street between South Green Bay Avenue and South Lake Shore Drive (collectively, the "Dedication Parce...
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