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Record #: O2017-1030   
Type: Ordinance Status: Passed
Intro date: 2/22/2017 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 3/29/2017
Title: Negotiated sale of City-owned property at 4150 W Cermak Rd to Ibrahim Ibrahim
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2017-1030.pdf

WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe 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 4150 West Cermak Road, Chicago, Illinois 60623, which is legally described on Exhibit A attached hereto (the "Property"), and is located in the Ogden Pulaski Redevelopment Project Area ("Area"), established pursuant to ordinances adopted by the City Council of the City (the "City Council") on April 9, 2008, and published in the Journal of Proceedings of the City Council for such date at pages 24221 through 24477; and
WHEREAS, Ibrahim Ibrahim (the "Grantee"), with a principal home address of 13030 South Cypress Lane, Palos Heights, Illinois 60463, has offered to purchase the Property from the City for the sum of Four Thousand and 00/100 Dollars ($4,000.00), such amount being the appraised fair market value of the Property, to improve with landscaped open space thereon; and
WHEREAS, pursuant to Resolution No. 17-007-21 adopted on February 16, 2017, by the Plan Commission of the City (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantee; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on December 9, 2016 and December 16, 2016; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now, therefore,


SECTION 1. The City Council hereby approves the sale of the Property to the Grantee for the amount of Four Thousand and 00/100 Dollars ($4,000.00).

SECTION 2. The Mayor or his proxy is authorized to execute, a...

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