OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL
MAYOR
March 13, 2019
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 ordinance authorizing a removal of deed restrictions associated with property located at 4911 South Cicero.
Your favorable consideration of this ordinance will be appreciated.
Mayor
Very truly yours,
ORDINANCE
WHEREAS, the City of Chicago (the "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, pursuant to an ordinance adopted by the City Council of the City (the "City Council") on October 8, 2014, and published at pages 92203 through 92206 in the Journal of the Proceedings of the City Council ("Journal") of such date, the City conveyed the real property located at 4911-4913 S. Cicero Avenue, as legally described on Exhibit A attached hereto (the "Property"), to Pace Property Group, L.L.C, an Illinois limited liability company (the "Owner"), for Sixty Thousand and No/100 Dollars ($60,000) (the "Purchase Price"); and
WHEREAS, the City transferred the Property by Quitclaim, Deed dated November 24, 2014, and recorded in the Office of the Recorder of Deeds of Cook County, Illinois, on that same date, as Document No. 1432816013 (the "Deed"); and
WHEREAS, the conveyance of the Property to the Owner was subject to the express conditions that: 1) the Property be improved with a surface parking lot within twelve (12) months from the date of the Deed; and 2) the Property be maintained and used as parking lot in perpetuity (collectively, the "Parking Lot Restrictions"); and
WHEREAS, the Deed provides that, in the event that the Parking Lot Restrictions are not met, the City may re-enter the property and revest title in the City; and
WHERE...
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