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This record contains private information, which has been redacted from public viewing.
Record #: O2016-2756   
Type: Ordinance Status: Passed
Intro date: 4/13/2016 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 5/18/2016
Title: Sale of City-owned property at 1301 W Exchange Ave and former private street (South Packers Ave) immediately north of West 41st St to Lakeshore Recycling Systems LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2016-2756.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR


April 13,2016









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 two parcels of land identified herein as Parcel 1 and Parcel 2 (collectively, the "City Property"); and

WHEREAS, Parcel 1 is located at 1301 West Exchange Avenue in the Stockyards Planned Manufacturing District No. 8 (the "PMD"), and Parcel 2 is situated about a block and a half to the northwest of Parcel 1 and is part of a former private street (South Packers Avenue) located immediately north of West 41st Street; and

WHEREAS, the City Property is comprised of approximately 19,000 square feet and is legally described on Exhibit A attached hereto and generally depicted on Exhibit B attached hereto; and
WHEREAS, Lakeshore Recycling Systems LLC, an Illinois limited liability company ("Grantee"), has offered to purchase the City Property for the sum of Ninety Five Thousand and No/100 Dollars ($95,000.00) (the "Purchase Price"), such amount being the appraised fair market value of the City Property; and

WHEREAS, Grantee provides waste hauling and recycling services and owns or leases, or is under contract to own or lease, approximately 20 acres of land in the vicinity of the City Property; and

WHEREAS, Grantee has proposed to assemble the City Property with this other land and construct a new recycling, sorting and municipal waste facility.in the PMD; and
WHEREAS, Grantee i...

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