OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
May 24, 2017
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Transportation, I transmit herewith an ordinance authorizing the execution of a construction and maintenance agreement with Zeller-401 Property, LLC.
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, Zeller-401 Property, L.L.C, a Delaware limited liability company authorized to transact business in Illinois ("Developer") is the owner of the property located at 401 North Michigan Avenue, Chicago, Illinois ("Developer Property"); and
WHEREAS, City is the owner of the dedicated public rights of way, namely Upper and Lower Michigan Avenue ("City Rights-of-Way"), including portions of the Chicago Riverwalk ("Riverwalk"), adjacent to the Developer Property. For purposes of this Ordinance, the term "Riverwalk" shall refer to the portion of the City Rights-of-Way located along the north bank of the Chicago River at the Lower Michigan Avenue level, accessible to pedestrians and adjacent to the Developer Property. The City Rights-of-Way and Riverwalk collectively shall be referred to herein as the "City Property"; and
WHEREAS, Developer is leasing a portion of the Developer Property to its tenant, namely Apple, Inc. ("Tenant") pursuant to the terms and conditions of a lease agreement ("Tenant Lease Agreement") by and between the Developer and Tenant; and
WHEREAS, Developer, at its sole cost and expense, is proposing to perform, and cause to be performed, demolition and structural renovations, repairs, and reconstruction, on portions of the City Property all to acc...
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