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This record contains private information, which has been redacted from public viewing.
Record #: O2019-7777   
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: Negotiated sale of City-owned vacant property at 729 W 83rd St to 8301 Halsted Property LLC
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2019-7777.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 THE CITY OF CHICAGO


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, 1 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 one vacant parcel of property located at 729 West 83rd Street, Chicago, Illinois 60620, which is legally described on Exhibit A attached hereto (the "Property"); and

WHEREAS, 8301 Halsted Property, LLC (the "Grantee"), with a principal business address of 8550 South Harlem Avenue, Suite G, Bridgeview, Illinois 60455 has offered to purchase the Property from the City for the sum of One Hundred Ninety-five Thousand and 00/100 Dollars ($195,000.00), such amount being the appraised fair market value of the Property, to improve as a parking lot thereon; 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. 19-031-21 adopted on May 16, 2019, by the Plan Commission of the City (the "Commission"), the Commission approved the negotiated sale of the Property to the Grantee; therefore,

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

SECTION 1. The City Council of the City hereby approves the sale of the...

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