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This record contains private information, which has been redacted from public viewing.
Record #: O2018-5710   
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 5116 S Damen Ave to Chicago Title Land Trust Co, Trust No. 8002360634 dated Nov. 9, 2012
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-5710.pdf
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 5116 South Damen Avenue, Chicago, Illinois 60609, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, Chicago Title Land Trust Company Trust #8002360634 dated November 9, 2012 (the "Grantee"), with a business address of 10 South LaSalle, Chicago, Illinois, 60603, has offered to purchase the Property from the City for the sum of Five Thousand and 00/100 Dollars ($5,000.00), to improve with landscaped open space thereon; and

WHEREAS, pursuant to Resolution No. 18-034-21 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 2 and 9, 2018; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now, therefore,

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

SECTION 1. The City Council ofthe City hereby approves the sale ofthe Property to the Grantee for the amount of Five Thousand and 00/100 Dollars ($5,000.00).

SECTION 2. The Mayor or his proxy is authorized to execute, and the City Clerk or Deputy City Clerk is authorized to attest, a quitclaim deed conveying the Property to the Grantee. The quitclaim deed shall also contain language substantially in the following form:

This conveyance is subject to the express condition that: the Property is improved with landscaped open space within six (6) m...

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