ORDINANCE
WHEREAS, the City of Chicago (the "City"), as a home rule unit of government under the 1970 Constitution of the State of Illinois, has the authority to promote the health, safety and welfare of its inhabitants, and to enter into contractual agreements with third parties for the purpose of achieving the aforesaid purposes; and
WHEREAS, pursuant to an ordinance adopted by the City Council of the City on September 5, 2007, on November 6, 2007 (the "Closing Date") the City conveyed the property located at 640 East 79th Street, Chicago, Illinois 60619 (the "Property") to a land trust the beneficiaries of which were Clarence and Lisa Hall (the "Developer") pursuant to a quitclaim deed (the "Deed") recorded with the Cook County Recorder of Deeds (the "Recorder") on November 9, 2007 (the "Recording Date") as Document Number 0731333001; and
WHEREAS, pursuant to that certain Agreement for the Sale and Redevelopment of Land (the "Agreement") between the City and the Developer dated as of the Closing Date and recorded with the Recorder on the Recording Date as Document Number 0731333000, the Developer rehabilitated the building located on the Property (the "Building") and covenanted to permit only retail and restaurant uses on the first floor of the Building and office uses on the second floor of the Building (the "Covenant") during the Term of the Agreement (which such Term was defined in neither the Deed nor the Agreement); and
WHEREAS, subsequent to the rehabilitation of the Building the Developer defaulted on their commercial lender financing and consequently lost ownership ofthe Property; and
WHEREAS, the current owner of the Property desires to sell the Property free of the Covenant so as to permit office uses on the first floor of the Building; now, therefore,
Be It Ordained by the City Council of the City of Chicago:
SECTION 1. The forgoing recitals are hereby incorporated herein and adopted as the findings ofthe City Council.
SECTION 2. The Commissioner of the Department of Planning and Development (the "Commissioner") or a designee of the Commissioner is each hereby authorized to release the Property from the Agreement and from the reference to the Covenant in the Deed and to negotiate and, subject to the approval of the Corporation Counsel, to execute such documents as are necessary to effectuate such release.
SECTION 3. If any provision of this ordinance shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such provision shall not affect any of the other provisions of this ordinance.
SECTION 4. All ordinances, resolutions, motions or orders in conflict with this ordinance are hereby repealed to the extent of such conflict.
SECTION 5. This ordinance shall take effect immediately upon its passage and approval.
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
May 23,2018
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request ofthe Commissioner of Planning and Development, I transmit herewith an ordinance authorizing a release of deed restrictions associated with a previously passed land sale.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
JOSEPH A. MOORE
Alderman, 49th Ward 7356 North Greenview Avenue Chicago, Illinois 60626 telephone 773-338-5796
ward49@cityofchicago.org www ward49 com
CITY COUNCIL
CITY OF CHICAGO COUNCIL CHAMBER
City Hall. Room 200 121 North LaSalle Street Chicago. Illinois 60602 Telephone 312-744-3067
COMMITTEE MEMBERSHIPS
HOUSING AND REAL ESTATE
Chairman
Budget and Government Operations
Committees, Rules and Ethics
Education and Child Development
Finance
Health and Environmental Protection
Human Relations
Special Events. Cultural Affairs and Recreation
June 27, 2018
To the President and Members of the City Council:
Your Committee on Housing and Real Estate, for which a meeting was held on June 20, 2018, having had under consideration the ordinance introduced by Mayor Rahm Emanuel on May 23, 2018, this being the amendment and release of a deed covenant of a previously-passed sale of City-owned property at 640 E. 79th St., begs leave to recommend that Your Honorable Body Approve said ordinance transmitted herewith.
This recommendation was concurred in by a voice vote of all committee members present with no dissenting votes.
Respectfully submitted,