Office of the City Clerk - Record #: SO2017-238

• Record #: SO2017-238
• Type: Ordinance
• Status: Passed
• Intro date: 1/25/2017
• Current Controlling Legislative Body: Committee on Transportation and Public Way
• Final action: 2/22/2017
• Title: Long-term public way easement agreement with 401 South State Street Owner LLC for property at 401 S State St
• Sponsors: King, Sophia D.
• Topic: AGREEMENTS - Easement

Date	Journal Page Number	Action By	Action	Result
2/22/2017	43838	City Council	Passed as Substitute	Pass
2/16/2017		Committee on Transportation and Public Way	Substituted in Committee
2/16/2017		Committee on Transportation and Public Way	Recommended to Pass	Pass
1/25/2017	42495	City Council	Referred

SUBSTITUTE ORDINANCE FOR LONG TERM EASEMENT


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, 401 S. State Street Owner, LLC, a Delaware Limited Liability Company ("Grantee") is the owner of the Leiter II Building, an eight story commercial building and Chicago Landmark property commonly known as 401 South State Street (the "Property"); and

WHEREAS, the Property predates the existence of W. Congress Parkway and protrudes into W. Congress Parkway approximately between the planes of 26.4'CCD/ 11.8' above grade and 149.8' CCD/135.2', and for its support columns supporting same ("Easement Area'); and

WHEREAS, the Easement Area was previously permitted pursuant to a November 21, 1950 Indenture Agreement between the City and the Grantee's predecessor as approved by the Chicago City Council and as recorded with the Office of the Cook County Recorder of Deeds on July 25, 1952 as Document No. 15395845, Book 48135, Page 372; and

WHEREAS, Grantee seeks to continue its permitted use of the space occupied by its building over the public way, and for its columns supporting same, all in the Easement Area; and
WHEREAS, the Easement Area excludes the area at grade that will continue to serve as part of the public way containing pedestrian sidewalk and curb, and the vaults below grade as more fully described on the Plat of Easement attached hereto and make a part hereof as Exhibit A; and

WHEREAS, the Department of Transportation has determined that a long term easement for the Property will not interfere with the City's traffic infrastructure and will benefit the business; and

WHEREAS, the City is willing to grant Grantee an easement on the same terms and conditions set forth in the Public Way Easement Agreement (the "Public Way Easement Agreement") attached h...