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This record contains private information, which has been redacted from public viewing.
Record #: O2018-1814   
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 7600 S Kedzie Ave to Monument of Faith Evangelistic Church for benefit of Chicago Board of Education
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-1814.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 properly on behalf of the Board of Education.

Your favorable consideration of these ordinances will be appreciated.

Mayor


Very truly yours,
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 vacant real estate located at 7600 S. Kedzie Avenue, the northwest corner of 77th Street and South Kedzie Avenue, Chicago, Illinois, which is approximately 16.73 acres of land and is legally described on Exhibit A attached hereto and included within P.I.N. 19-26-405-001 (the "Property"); and

WHEREAS, the City, as Trustee, in Trust for Use of Schools, holds title to the Property;
and
i
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 Valuation Group LLC
Disposition Value as of October 1, 2017: $1,000,000.00 to $1,400,000.00; and

WHEREAS, the Board advertised the Property for sale and received two bids for th...

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