SUBSTITUTE 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 at 310-328 S. Canal Street and 506-530 W. Van Buren Street are owned by 320 South Canal Titleholder LLC, a Delaware limited liability company ("Developer"); and
WHEREAS, the Developer proposes to assemble the portion ofthe street remnant to be vacated herein with its adjacent property, for construction of a new office tower associated with Planned Development 376; and
WHEREAS, the City Council ofthe City, 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 street, described in the following ordinance; now therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1.
The vacation of THAT PART OF S. CANAL STREET, BEING THAT PART OF THE PROPERTY ACQUIRED FOR THE WEST ROUTE (DWIGHT D. EISENHOWER EXPRESSWAY) OF THE COMPREHENSIVE SUPERHIGHWAY SYSTEM BY GENERAL ORDINANCE PASSED OCTOBER 31,1940, IN THE ASSESSOR'S DIVISION OF BLOCK 52, ANTE FIRE, IN SCHOOL SECTION ADDITION TO CHICAGO OF SECTION 16, TOWNSHIP 39 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, ANTE FIRE, DESCRIBED AS FOLLOWS:
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BEGINNING AT THE SOUTHEAST CORNER OF SAID BLOCK 52; THENCE NORTH 00 DEGREES 02 MINUTES 50 SECONDS EAST ALONG THE EAST LINE OF SAID BLOCK 92.00 FEET; THENCE SOUTH 31 DEGREES 28 MINUTES 14 SECONDS WEST 107.44 FEET TO A POINT ON THE SOUTH LINE OF SAID BLOCK 52 THAT IS 56.00 FEET WEST OF THE SOUTHEAST CORNER THEREOF; THENCE EAST ALONG THE SOUTH LINE OF SAID BLOCK 56.00 FEET TO SAID SOUTHEAST CORNER AND THE POINT OF BEGINNING, IN COOK COUNTY, ILLI...
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