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Record #: O2021-5287   
Type: Ordinance Status: Passed
Intro date: 11/17/2021 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 12/15/2021
Title: Sale of vacant "as-is" City-owned property at 5093 W Jackson Blvd to Chicago Jesuit Academy
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2021-5287.pdf

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 5093 West Jackson Boulevard, Chicago, Illinois 60644, which is legally described on Exhibit A attached hereto (the "Property"): and
WHEREAS, pursuant to ordinances adopted by the City Council of the City (the "City Council") on May 17, 2000, and published at pages 30775 through 30953 in the Journal of Proceedings of the City Council for such date, the City Council approved a certain redevelopment plan and project for the Midwest Redevelopment Project Area (as previously or subsequently amended, the "Redevelopment Area"); and

WHEREAS, the Property is located in the Redevelopment Area; and

WHEREAS, Chicago Jesuit Academy (the "Grantee"), which has a business address of 5058 West Jackson Boulevard, Chicago, Illinois 60644, has offered to purchase the Property from the City for the sum of Twenty-Eight Thousand Dollars ($28,000.00) (the "Purchase Price"), such amount being the appraised fair market value ofthe Property, to improve with parking; and

WHEREAS, by Resolution No. 21-031-21 adopted on October 21, 2021, the Chicago Plan Commission approved the disposition of the Property to the Grantee; and

WHEREAS, the Grantee has provided the City, at the Grantee's expense, a Phase I Environmental Site Assessment ("ESA") conducted in compliance with ASTM E1527-13 standards, and such Phase I ESA identified no Recognized Environmental Conditions on the Property; and

WHEREAS, public notice advertising the City's intent to enter into a negotiated sale ofthe Property with the Grantee and requesting alternative proposals appeared in the Chicago Tribune, a newspaper of general circulation, on September 13 and 20, 2021; and

WHEREAS, no a...

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