Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: O2018-6035   
Type: Ordinance Status: Passed
Intro date: 7/25/2018 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 9/20/2018
Title: Sale of City-owned property at 2814 W Van Buren St to 340 California Property Group, Inc.
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Sale
Attachments: 1. O2018-6035.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
July 25, 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 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 2814 West Van Buren Street, Chicago, Illinois 60612, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS pursuant to ordinances adopted by the City Council of the City of Chicago ("City Council") on May 17, 2000, and published at pages 30775 through 30953 in the Journal of Proceedings of the City Council ("Journal") for such date, the City Council approval a certain redevelopment plan and project for the Midwest Redevelopment Project Area ("TIF Area"); and
WHEREAS, 340 California Property Group, Inc. (the "Grantee"), which has a business address of 340 South California Avenue, Chicago, Illinois, has offered to purchase the Property from the City for the sum of Twenty Thousand 00/100 Dollars ($20,000.00), such amount being the appraised fair market value of the Property, to improve with landscaped open space thereon; and

WHEREAS, pursuant to Resolution No. 18-047-21 adopted on July 19, 2018, by the Plan Commission ofthe 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 ...

Click here for full text