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COMMERCIAL VACATION ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of local government pursuant to Article VII, Section 6 (a) of the 1970 Constitution of the State of Illinois and, as such, may exercise any power and perform any function pertaining to its government and affairs; and
WHEREAS, the properties located at 162-172 N. Halsted Street, 801-815 W. Lake Street, and 159-173 N. Green Street are owned by W-SF Goldfinger Owner VIII LLC, a Delaware limited liability company, and the property located at 158-160 N. Halsted Street is owned by Fight Club Owner LLC, a Delaware limited liability company (collectively, the "Developer"); and
WHEREAS, the property located at 158-160 N. Halsted Street is owned by Parkway Bank and Trust Company as trustee under the Trust Agreement dated July 15,1999, and known as Trust 12327, which has quit claimed all interests in the area to be vacated to W-SF Goldfinger Owner VIII, LLC, a Delaware limited liability company, pursuant to Trustee's Deed dated November 1, 2018, and recorded November 7, 2018 as document 1831117015.
WHEREAS, the Developer proposes to use the alleys herein vacated for construction of a mixed use, commercial development with ground floor retail and office space above; and
WHEREAS, the City Council of the City of Chicago, after due investigation and consideration, has determined that the nature and extent of the public use and the public interest to be subserved is such as to warrant the vacation of that portion of the public alleys, described in the following ordinance; now therefore,
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BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1.
PARCEL 1:
(EAST-WEST ALLEY AS SUBJECT TO A NO BUILD RESTRICTION AND PUBLIC WAY EASEMENT TO A HEIGHT OF 16 FEET ABOVE GRADE)
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THAT PART OF THE 15-FOOT WIDE EAST-WEST ALLEY, SOUTH OF AND ADJOINING LOTS 1 TO 3, IN CARPENTER'S ADDITION TO CHICAGO AND NORTH OF AND ADJOINING LOTS 6 AND 7 IN T.F. GALE'S SUBDIVI...
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