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This record contains private information, which has been redacted from public viewing.
Record #: O2018-1874   
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 2427-2431 W 14th St to 1414 S. Western LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-1874.pdf, 2. O2018-1874 (V1).pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
February 28, 2018









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


Ladies and Gentlemen:
i
At the request of the Commissioner of Planning and Development, 1 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 2427 - 31 West 14th Street, Chicago, Illinois 60608, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Western/Ogden Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City (the "City Council") on February 15, 1998, published in the Journal of Proceedings of the City Council for such date at pages 61204 through 61411.

WHEREAS, 1414 S. Western LLC (the "Grantee"), who has a principal business address of 1035 North Clark Street, Chicago, Illinois 60610, has offered to purchase the Property from the City for the sum of One Hundred Sixty-five Thousand and 00/100 Dollars ($165,000.00), such amount being the appraised fair market value of the Property, to improve as a Parking Lot and Loading Area 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 December 13, 2017, and December 20, 2017; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now,

WHEREAS, pursuant to Resolutio...

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