OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
January 23,2019
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 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 two vacant parcels of property located at 4848-52 West Lake Street, Chicago, Illinois 60644, which are legally described on Exhibit A attached hereto (the "Properties"), which Properties are located in the Northwest Industrial Corridor Redevelopment Project Area ("Area"), established pursuant to ordinances adopted by City Council of the City (the "City Council") on December 2, 1998, published in the Journal of Proceedings of the City Council for such date at pages 86178 through 86379.
WHEREAS, All Around Real Estate Services, Inc. (the "Grantee"), who has a principal business address of 4824 West Lake Street, Chicago, Illinois 60644, has offered to purchase the Properties from the City for the sum of Thirty-one Thousand and 00/100 Dollars ($31,000.00), such amount being the appraised fair market value of the Properties, to be improved as Industrial Yard thereon; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Properties with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on November 19, 2018 and November 26, 2018; and
WHEREAS, no alternative proposals were received by the deadline indicated in the aforesaid notice; now,
WHEREAS, pursuant to Resol...
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