ORDINANCE FOR LONG TERM EASEMENT
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue ofthe 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 Council of the City of Chicago, 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 a long term easement for existing vaults under the public streets described in the following ordinance; and
WHEREAS, Tribune Tower West (Chicago) Owner, LLC ("Grantee") is the owner of the property commonly identified as 137-165 E. Illinois Street and 431-451 N. Michigan Avenue (the "Property"): and
WHEREAS, the Property is improved with the existing Tribune Tower (the "Tower"), which has heretofore been designated as a Chicago Landmark under Chapter 2, Article XVII of the Chicago Municipal Code (Section 2-120-580 etseq.), and which is listed on the National Register of Historic Places as a contributing building within the Michigan-Wacker Historic District; and
WHEREAS, the Property is bounded on the north by E. Illinois Street and on the west by N. Michigan Avenue, both of which were dedicated as public rights of way by Kinzie's Addition to Chicago, the plat of subdivision establishing the lots comprising the Property and other nearby land; and
WHEREAS, Kinzie's Addition to Chicago was acknowledged and filed for record in 1833, and recorded in 1834, prior to passage ofthe law now known as the Illinois Plat Act (the "Original Plat Act"); and
WHEREAS, the Original Plat Act established the statutory procedures for dedicating rights of way, and provided that fee simple title in the streets of plats thereafter recorded became vested in the public; and
WHEREAS, the Original Plat Act modified the common law rule that that title to dedicated streets is vested i...
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