OFFICE OF THE MAYOR
CI TY Ol CII fCAGO
LOIU E. LIGHTI-'OOT
MAYOR
December 1 5, 2021
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 ordinances authorizing the sale of City-owned property.
Your favorable consideration of these ordinances will be appreciated.
ORDINANCE {PRIVATE}
WHEREAS, the City of Chicago (the "City") is a home rule unit of government by virtue of the provisions of Article VII, Section 6(a) 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 vacant parcels of real property located at 3975-3977 South Drexel Boulevard ("Parcel #1") and 3981-3983 South Drexel Boulevard ("Parcel #2"), Chicago, Illinois 60653, which are legally described on Exhibit A attached hereto (Parcel #1 and Parcel #2, together, the "Property"); and
WHEREAS, 3975 Drexel LLC, an Illinois limited liability company with a principal business address of 5230H S. Cornell Avenue, Chicago, Illinois 60615 ("Grantee #1"), and 3981 Drexel LLC, an Illinois limited liability company with a principal business address of 5230H S. Cornell Avenue, Chicago, Illinois 60615 ("Grantee #2"), are each solely owned and managed by John Jones, an individual at the same business address as Grantee #1 and Grantee #2; and
WHEREAS, Grantee #1 has offered to purchase Parcel #1 from the City, and Grantee #2 has offered to purchase Parcel #2 from the City, for the aggregate sum of Two Hundred Fifty Thousand Dollars ($250,000.00) (the "Purchase Price"), such amount being equal to the sum of the appraised fair market value of Parcel #1 (i.e., $125,000) and the appraised fair market value of Parcel #2 (i.e., $125,000); and
WHEREAS, Grantee #1 proposes to develop a single-family home on Parcel #1; and
WHEREAS, Grantee #2 proposes to de...
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