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This record contains private information, which has been redacted from public viewing.
Record #: O2019-7156   
Type: Ordinance Status: Passed
Intro date: 9/18/2019 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 10/16/2019
Title: Acquisition of property at 4400-4406 W Lawrence Ave for continued use as Chicago Public Library
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Acquisition
Attachments: 1. O2019-7156.pdf
OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

September 18, 2019










TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request of the Commissioner of Fleet and Facility Management, I transmit herewith an ordinance authorizing an acquisition of property at 4400-06 West Lawrence for the Chicago Public Library.

Your favorable consideration of this ordinance 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 affairs; and

WHEREAS, the City leases from John N. Rentas, an individual, the property located at 4400-4406 West Lawrence Avenue, Chicago, Illinois ("Property"). The Chicago Public Library currently utilizes the Property for the Mayfair Branch of the Chicago Public Library. The Property is described on Exhibit A of the Purchase and Sale Agreement ("PSA") attached hereto; and

WHEREAS, the Property is owned by Albany Bank & Trust Company N.A., as Trustee under Trust Agreement dated June 15, 2016 and known as Trust No. 11-6416; and

WHEREAS, the City requires continued use of the property and the sale of the Property to another party could require relocation of the library; and

WHEREAS, the City will recoup its investment after approximately 7 years when considering the rent the City pays for the site; and

WHEREAS, the City, through the Department of Fleet and Facility Management, endeavors to acquire the Property for continued use by the Chicago Public Library; now, therefore,


BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:

SECTION 1. The foregoing recitals are hereby adopted as findings of the City Council.

SECTION 2. The Commissioner of the Department of Fleet and Facility Management ("Commissioner") or a designee of the Commissioner is each h...

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