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This record contains private information, which has been redacted from public viewing.
Record #: O2017-6399   
Type: Ordinance Status: Passed
Intro date: 9/6/2017 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 10/11/2017
Title: Sale of City-owned property at 1126 S Mozart St to Safer Corporate Endowment
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2017-6399.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
September 6, 2017










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


Ladies and Gentlemen:

At the request of the 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 ("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 property located at 1126 South Mozart Street, Chicago, Illinois 60612, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Midwest Corridor Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City on May 17, 2000, published in the Journal of Proceedings of the City Council for such date at pages 30771 through 30953.

WHEREAS, Safer Corporate Endowment (the "Grantee"), who has a principal business of 571 West Jackson Boulevard, Chicago, Illinois 60661, has offered to purchase the Property from the City for the sum of Two Thousand Five Hundred and 00/100 Dollars ($2,500.00), such amount being the appraised fair market value of the Property with a "parking in perpetuity" deed restriction; and

WHEREAS, pursuant to Resolution No. 17-046-21 adopted on August 17, 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 July 10, ...

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