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Record #: O2021-3261   
Type: Ordinance Status: Passed
Intro date: 7/21/2021 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 9/14/2021
Title: Negotiated, conditional sale of City-owned property at 3347-3357 W 55th St to PODER Learning Center for rehabilitation and development of immigrant job training and resource center
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2021-3261.pdf, 2. O2021-3261 (V1).pdf

WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions of the Constitution of the 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 approximately 16,670 square foot improved real property located at 3347-3357 West 55th Street, Chicago, Illinois 60632, which is legally described on Exhibit A attached hereto (the "Property"); and
WHEREAS, PODER Learning Center, an Illinois not-for-profit corporation (the "Grantee"), with a principal business address of 6155 South Pulaski Road, 2nd Floor, Chicago, Illinois 60629, has offered to purchase the Property from the City for $1 in order to rehabilitate the two-story, approximately 6,400 square foot masonry structure on the Property and further develop the Property for use as an immigrant job training and resource center with an outdoor plaza and parking for Grantee's staff (the "Project"); and

WHEREAS, the appraised fair market value ofthe Property is $270,000 (according to a City-ordered appraisal); 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 Tribune, a newspaper of general circulation, on June 28, 2021, July 5, 2021 and July 12, 2021; and

WHEREAS, pursuant to Resolution No. 21-022-21 adopted on June 17, 2021, by the Chicago Plan Commission (the "Commission"), the Commission approved the negotiated sale ofthe Property to the Grantee; now, therefore,


SECTION 1. The City Council hereby approves the sale of the Property to the Grantee (or an affiliate thereof) for the amount of $1 and the agreement by Grantee to rehabilitate and develop the Property for use as an immigrant job training and resource center; provided, however, Grantee shall deposit: (a) s...

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