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Record #: O2021-5289   
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 City-owned vacant property at 5113 Vacant Street to Expert Management Inc. subject to "No Further Remediation" Letter and subsequent transfer to North Austin Community Center
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2021-5289.pdf
OFFTCE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR

November 17, 2021










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


Ladies and Gentlemen:

At the request of the Commissioner of Planning and Development, 1 transmit herewith ordinances authorizing the sale of City-owned properties.

Your favorable consideration of these ordinances will be appreciated.

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 ofthe vacant real property commonly known as 5113 Vacant Street, Chicago, Illinois (in the block bounded by N. LeClaire Avenue, W. Bloomingdale Avenue, N. Laramie Avenue and the Chicago, Minneapolis, St. Paul and Pacific Railroad), and further described in the legal description attached hereto as Exhibit A (together with all improvements, easements, rights, privileges and appurtenances, the "Property"); and

WHEREAS, from at least 1920 until 1982, The Glidden Company owned and operated a business at the Property; and

WHEREAS, investigations have revealed twelve underground storage tanks and related underground piping ("USTs") located on the Property which were used to store Glidden products, and there may be contamination from a Leaking Underground Storage Tank ("LUST") reportable release in excess of applicable Illinois Environmental Protection Agency ('IEPA") standards for soil and/or groundwater related to the USTs and/or currently unknown USTs that may be subsequently discovered on the Property (collectively, the "Glidden Contamination"); and

WHEREAS, PPG Architectural Finishes, Inc. ("PPG") is the successor-in-interest to The Glidden Company; and

WHEREAS, Expert Management Inc., a Delaware company ("Grantee"), through agreement with PPG, has agreed to acquire the Property, address ...

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