Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: O2016-4812   
Type: Ordinance Status: Passed
Intro date: 6/22/2016 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 7/20/2016
Title: Sale of City-owned property at 5321 S Menard Ave to BPAC Building Company LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2016-4812.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
June 22, 2016










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


Ladies and Gentlemen:

At the request of the Commissioner of Aviation, I transmit herewith an ordinance authorizing a sale of city-owned property.

Your favorable consideration of this ordinance will be appreciated.


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 real property commonly known as 5321 South Menard Avenue, Chicago, Illinois, and legally described on Exhibit A attached hereto (the "Property"); and

WHEREAS, the City's Department of Aviation ("CPA") has determined that the Property, which was once needed decades ago by Midway Airport for an extended strip of runway approach lights, has no foreseeable or practical aviation use by the CDA; and

WHEREAS, public notice advertising the RFP appeared in the Chicago Sun-Times on January 15, 2016; and

WHEREAS, BPAC Building Company, LLC, an Illinois limited liability company (the "Developer" or "Grantee"), has timely submitted a proposal in response to the RFP, offering to purchase the Property for Eighty Thousand Dollars ($80,000), which amount is Fifteen Thousand Dollars ($15,000) more than the Property's current appraised fair market value of Sixty-Five Thousand Dollars ($65,000), and to use the Property, subject to Developer's obtaining applicable zoning approvals, for a customer parking lot for a new restaurant Developer is opening across the street at 6021 South Archer Avenue; and

WHEREAS, CDA determined that the Developer submitted a "complete and quality" proposal that satisfied the requirements of the RFP; and

WHEREAS, no other proposals to the RFP have been received b...

Click here for full text