Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: O2019-5945   
Type: Ordinance Status: Passed
Intro date: 7/24/2019 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 9/18/2019
Title: Negotiated sale of City-owned property at 3806 S Wabash Ave to Gramercy LLC
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2019-5945.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

July 24, 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.


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 the vacant parcel of property located at 3806 South Wabash Avenue, Chicago, Illinois 60653, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the Bronzeville Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City (the "City Council") on November 4, 1998, published in the Journal of Proceedings of the City Council for such date at pages 80642 through 80778.

WHEREAS, Gramercy, LLC (the "Grantee"), who has a principal Business address of 905 175th Unit 3SW, Homewood, Illinois 60430, has offered to purchase the Property from the City for the sum of Thirty-four Thousand and 00/100 Dollars ($34,000.00), such amount being the appraised fair market value of the Property, to improve with a residential garage and a driveway; 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 25, 2019 and May 2, 2019; and

WHEREAS, no. alternative proposals were received by the deadline indicated in the aforesaid notice; now,

WHEREAS, pursuant to Resolution No. 19-030-21 adopted on May 16, 2019...

Click here for full text