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This record contains private information, which has been redacted from public viewing.
Record #: O2018-5597   
Type: Ordinance Status: Passed
Intro date: 6/27/2018 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 7/25/2018
Title: Negotiated sale of City-owned property at 2934 W Van Buren St to GSG Developers LLC
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-5597.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
June 27,2018










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 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 ofthe Constitution ofthe 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 2934 W. Van Buren Street, Chicago, Illinois 60612, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Midwest Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City on May 17, 2000, published in the Journal of Proceedings of the City Council for such date at pages 30775 through 30953.

WHEREAS, GSG Developers LLC (the "Grantee"), with a principal business address of 855 West Adams Street, Suite 200, Chicago, Illinois 60607, has offered to purchase the Property from the City for the sum of Twenty Thousand and 00/100 Dollars ($20,000.00), such amount being the appraised fair market value of the Property, to improve with parking thereon; and

WHEREAS, pursuant to Resolution No. 18-043-21 adopted on June 21, 2018, by the Plan Commission of the City (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantee; 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 April 18 and 25, 2018; and
WHEREAS, no alternat...

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