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This record contains private information, which has been redacted from public viewing.
Record #: O2019-7775   
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: Sale of vacant City-owned property at 309 W 47th St to Chicago Title Land Trust No. 8002374370 dated April 27, 2017
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2019-7775.pdf
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OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

September 18,2019










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


Ladies and Gentlemen:

At the request ofthe 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 ofthe Constitution ofthe 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 309 West 47th Street, Chicago, Illinois 60609, which is legally described on Exhibit A attached hereto (the "Property"); and

WHEREAS pursuant to ordinances adopted by the City Council of the City ("City Council") on May 29, 2002, and published at pages 85676 through 85904 in the Journal of Proceedings of the City Council for such date, the City Council approved a certain redevelopment plan and project for the 47th/Halsted Redevelopment Project Area ("TIF Area"); arid
WHEREAS, Chicago Title Land Trust Company, trust #8002374370, dated April 27, 2017 (the "Grantee"), with a business address of 10 South LaSalle Street, Suite 2750, Chicago, Illinois 60603, has offered to purchase the Property from the City for the sum of Ten Thousand and 00/100 Dollars ($10,000.00), such amount being the appraised fair market value ofthe Property, to improve with landscaped open space thereon; and

WHEREAS, pursuant to Resolution No. 19-040-21 adopted on August 15, 2019, by the Plan Commission ofthe City (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantee; and

WHEREAS, public notice advertising the City's intent to enter into a negotiated sale ofthe Property with the Grantee and requesting altern...

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