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This record contains private information, which has been redacted from public viewing.
Record #: O2018-1867   
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 843 N Homan Ave to Infinite Real Estate Solutions Corp.
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-1867.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 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 843 North Homan Avenue, Chicago, Illinois 60651, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Chicago/Central Park Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City on February 27, 2002, published in the Journal of Proceedings of the City Council for such date at pages 79794 through 80025

WHEREAS, the City, acting through its Department of Planning and Development ("DPD"), has proposed to sell the Property through a sealed bid auction pursuant to Chapter 2-158 of the Municipal Code of the City of Chicago; and

WHEREAS, the Commissioner of DPD caused to be published a public notice advertising the City's intent to sell the Property through a sealed bid auction, and such advertisements appeared in the Chicago Sun-Times, a newspaper of general circulation, on October 19, 2017, October 26, 2017 and November 2, 2017; and

WHEREAS, the only sealed bid received in response to the aforesaid public notice was opened in a public meeting before a certified court reporter and, the bid was from Infinite Real Estate Solutions Corporation, 4411 West Fullerton Avenue, Chicago, Illinois 60039 in the amount of Fifte...

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