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This record contains private information, which has been redacted from public viewing.
Record #: O2018-1592   
Type: Ordinance Status: Passed
Intro date: 2/28/2018 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 3/28/2018
Title: Sale of City-owned property at 820 W Marquette Rd and 838 W Marquette Rd to Shepherd's Hope, Ltd. for benefit of Chicago Board of Education
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-1592.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
February 28, 2018










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


Ladies and Gentlemen:

At the request of the Commissioner of Fleet and Facility Management, I transmit herewith ordinances authorizing the sale of property on behalf of the Board of Education.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours,


Mayor
ORDINANCE

WHEREAS, the City of Chicago (the "City"), is a home rule unit of government under Article VII, Section 6(a) of the Constitution of the State of Illinois and, as such, may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, the Board of Education of the City of Chicago (the "Board"), is a body corporate and politic, organized under and existing pursuant to Article 34 of the School Code of the State of Illinois, 105 ILCS 5/1-1, et seq. (the "School Code"); and

WHEREAS, the Board is the beneficial owner of the real estate commonly known as 820 W. Marquette Road and 838 W. Marquette Road, Chicago, Illinois, which is legally described on Exhibit A attached hereto (the "Property"); and

WHEREAS, the Property is comprised of three parcels that are improved with the vacant, former Benjamin Mays Academy ("Parcel 1", "Parcel 2", and "Parcel 3", respectively), and one parcel, which is improved with a parking lot, that is across the street from the school ("Parcel 4"); and

WHEREAS, title to the Property is held by the City, as Trustee, in Trust for the Use of Schools; and

WHEREAS, pursuant to Section 34-21 (b) of the School Code, by a vote of no less than two-thirds (2/3) of its full membership, the Board determined that the Property has become unnecessary for school purposes, and that the sale of the Property is in the best interests of the Board; and

WHEREAS, one appraisal was made for the Property indicating the appraised disposition value of the Property, as follows:

Appraiser: KMD...

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