Office of the City Clerk - Record #: O2020-3461

• Record #: O2020-3461
• Type: Ordinance
• Status: Passed
• Intro date: 6/17/2020
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 7/22/2020
• Title: Amendment of agreement regarding scope of development for previously sold properties at 4237-4241 S Wells St and 224 W 43rd St
• Sponsors: Lightfoot, Lori E.
• Topic: AGREEMENTS - Redevelopment

Date	Journal Page Number	Action By	Action	Result
7/22/2020	18938	City Council	Passed	Pass
7/14/2020		Committee on Housing and Real Estate	Recommended to Pass
6/17/2020	17822	City Council	Referred

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

June 17,2020










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


Ladies and Gentlemen:

At the request ofthe Commissioner of Planning and Development, I transmit herewith an ordinance authorizing an amendment to a previously passed negotiated sale with Ultimate Gas and Mini-Mart for property located at 4237 South Wells and 224 West 43rd Street.

Your favorable consideration ofthis ordinance will be appreciated.

ORDINANCE
WHEREAS, the City conveyed the real property located at 4237-41 South Wells Street and 224 West 43rd Street (the "City Property") to Ultimate Gas & Mini Mart, Inc., an Illinois corporation ("Corporation") pursuant to (1) an ordinance adopted by the City Council ofthe City (the "City Council") on May 28, 2014 and published at pages 81798 through 81838 ofthe Journal of Proceedings ofthe City Council of the City of Chicago (the "Journal") for such date (the "Project Ordinance"), (2) that certain Agreement for the Sale and Redevelopment of Land among the City, the Corporation and Issak H. Sughayar, individual sole beneficiary ("Beneficiary," together with the Corporation, the "Developer") under that certain land trust established with Chicago Title Land Trust Company pursuant to that certain Trust Agreement dated November 27, 2007 and known as Trust Number 8002349794 ("Trust"), dated July 31, 2014 and recorded in the Office ofthe Recorder of Deeds of Cook County (the "Recorder's Office") on August 5, 2014 as document 1421718037 (the "Agreement"), and (3) that certain Quitclaim Deed from the City to the. Corporation dated July 31, 2014 and recorded in the Recorder's Office on August 12, 2014 as document 1422435010; and
WHEREAS, as contemplated by the Agreement, the Corporation subsequently conveyed the City Property into the Trust pursuant to that certain Deed in Trust-Quitclaim dated July 31, 2014 and recorded in the Recorder's Office on August 18, 2014 as document 14230...