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This record contains private information, which has been redacted from public viewing.
Record #: O2018-1877   
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 4652-58 W Polk St to Jakacki Bag & Barrel, Inc.
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-1877.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM FMANUEL
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 parcels of property located at 4652-58 West Polk Street, Chicago, Illinois 60644, which are legally described on Exhibit A attached hereto (the "Properties"); and

WHEREAS pursuant to ordinances adopted by the City Council of the City of Chicago ("City Council") on February 5, 1999, and published at pages 60917 through 61070 in the Journal of Proceedings of the City Council ("Journal") for such date, the City Council approved a certain redevelopment plan and project for the Roosevelt Cicero Industrial Corridor Redevelopment Project Area; and

WHEREAS, Jakacki Bag & Barrel, Inc. (the "Grantee"), with a business address of 4607 West Lexington Street, Chicago, Illinois 60644, has offered to purchase the Properties from the City for the sum of Forty Seven Thousand and 00/100 Dollars ($47,000.00), such amount being the appraised fair market value of the Properties, to improve with Industrial Open Space thereon; and

WHEREAS, pursuant to Resolution No. 18-001-21 adopted on January 18, 2018, by the Plan Commission of the City (the "Commission"), the Commission approved the negotiated sale of the Properties to the Grantee; and

WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Properties with the Grantee and requesting alte...

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