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This record contains private information, which has been redacted from public viewing.
Record #: O2017-8439   
Type: Ordinance Status: Passed
Intro date: 11/21/2017 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 12/13/2017
Title: Sale of City-owned property at 4114-4120 W Chicago Ave to 4106 Chicago LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2017-8439.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR

November 21, 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 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 four vacant parcels of property located at 4114-20 West Chicago Avenue, Chicago, Illinois 60651, which are legally described on Exhibit A attached hereto (the "Properties"), which Properties are located in the Northwest Industrial Corridor Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City on December 2, 1998, published in the Journal of Proceedings ofthe City Council for such date at pages 86178 through 86379.

WHEREAS, 4106 Chicago LLC (the "Grantee"), who has a principal business of 409 River Grove Lane, Vernon Hills, Illinois 60061, has offered to purchase the Property from the City for the sum of Sixty-eight Thousand and 00/100 Dollars ($68,000.00), such amount being the appraised fair market value of the Properties to be improved as a parking lot thereon; and

WHEREAS, pursuant to Resolution No. 17-069-21 adopted on October 19, 2017, by the Plan Commission of the City (the "Commission"), the Commission approved the negotiated sale ofthe Properties to the Grantee; and

WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Properties with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation...

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