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This record contains private information, which has been redacted from public viewing.
Record #: O2017-1068   
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: Sale of City-owned property at 2607 S Green St, 2609 S Green St, 2611 S Green St, 2612 S Green St 2617 S Green St and 812 W 27th St to and redevelopment agreement with Green Street Development LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2017-1068.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR

February 22, 2017










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


Ladies and Gentlemen:

At the request ofthe 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 (the "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, Green Street Development, LLC, an Illinois limited liability company, located at 3520 South Morgan Street, Chicago, Illinois ("Developer"), desires to purchase from the City, for the aggregate appraised fair market value of Seven Hundred Twenty Thousand Dollars ($720,000) (i.e., $80,000 per "Lot", as defined below), the six (6) vacant parcels of real property commonly known as 2612 South Green Street (P.I.N. 17-29-418-047-0000; "Parcel 1"), 2607 South Green Street (P.I.N. 17-29-419-017-0000; "Parcel 2"). 2609 South Green Street (P.I.N. 17-29-419-018-0000; "Parcel 3"). 2611 South Green Street (P.I.N. 17-29-419-019-0000; "Parcel 4"), 812 West 27th Street (P.I.N. 17-29-419-043-0000; "Parcel 5"), 2617 South Green Street (P.I.N. 17-29-419-052-0000; "Parcel 6"), Chicago, Illinois, which are legally described on Exhibit A attached hereto (collectively, the "Property"); and

WHEREAS, Parcel 1 is comprised of two (2) lots (each a "Lot"), Parcels 2 through 5 are each comprised of one (1) Lot, and Parcel 6 is comprised of three (3) Lots; and

WHEREAS, the Developer proposes to develop eight (8) single-family homes, as follows: three (3) single-family homes on Parcel 1; one (1) single-family home on each of Parcels 2,3 and 4; and a total of two (2) single-family homes on Parcels 5 and 6 (collectively...

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