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This record contains private information, which has been redacted from public viewing.
Record #: O2018-1876   
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 4343 S Indiana Ave to Arthur L. Moore
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-1876.pdf

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 4343 South Indiana Avenue, Chicago, Illinois 60653, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the 47th/King Drive Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City on March 27, 2002, published in the Journal of Proceedings of the City Council for such date at pages 81231 through 81472

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 December 6, 13 and 20 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 Arthur L. Moore, 4345 South Indiana Avenue #4S, Chicago, Illinois 60053 in the amount of Thirty Seven Thousand Dollars ($37,000.00); and

WHEREAS, the "as is" market value of the Property as of November 29, 2017 was $37,000.00; and

WHEREAS, DPD has recommended that the sealed bid of Arthur L. Moore, the sole and highest bidder, be accepted by the City Council; and

WHEREAS, pursuant to Resolution No. 18-013-21 adopted on February 15, 2018, by the Plan Commission of the City of Chicago (the "Commission"), the Commission approved the sale of the Pr...

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