Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: O2019-9302   
Type: Ordinance Status: Passed
Intro date: 11/26/2019 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 12/18/2019
Title: Negotiated Sale of vacant City-owned vacant property at 4942 S Halsted St to Chicago Land Trust No. 8002365955 dated September 12, 2014
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2019-9302.pdf


OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

November 26, 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 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 4942 South Halsted Street, Chicago, Illinois 60609, which is legally described on Exhibit A attached hereto (the "Property"), which Property is located in the 47th/Halsted Redevelopment Project Area ("Area"), as amended, established pursuant to ordinances adopted by City Council of the City (the "City Council") on May 29, 2002, published in the Journal of Proceedings of the City Council for such date at pages 85676 through 85904.

WHEREAS, Chicago Title Land Trust dated September 12, 2014, Number 8002365955 (the "Grantee"), who has a principal business address of 233 East 13th Street, Unit 1502, Chicago, Illinois 60605, has offered to purchase the Property from the City for the sum of Fifteen Thousand and 00/100 Dollars ($15,000.00), such amount being the appraised fair market value of the Property, to improve as a Parking Lot; 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 August 14, 2019 and August 21, 2019; and

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

WHEREAS, pursuant to Resol...

Click here for full text