Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: O2017-8623   
Type: Ordinance Status: Passed
Intro date: 12/13/2017 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 1/17/2018
Title: Sale of City-owned property at 4827 W Cortland St to 4821 Cortland LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2017-8623.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
December 13, 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 4827 West Cortland Street, Chicago, Illinois 60639 which is legally described on Exhibit A attached hereto (the "Property"); and

WHEREAS, 4821 Cortland LLC (the "Grantee"), with a business address of 4819 West Cortland Street, Chicago, Illinois 60639 has offered to purchase the Property from the City for the sum of Six Thousand and 00/100 Dollars ($6,000.00), such amount being the appraised fair market value of the Property, to improve as industrial open space thereon; 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 21, 2017, and July 28, 2017; and

WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; and '

WHEREAS, pursuant to Resolution No. 17-057-21 adopted on September 21, 2017, by the Plan Commission of the City (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantee; now, therefore,

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

SECTION 1. The City Council hereby approves the sale of the Property to the Grantee for the amount of Six ...

Click here for full text