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This record contains private information, which has been redacted from public viewing.
Record #: O2022-862   
Type: Ordinance Status: Passed
Intro date: 3/23/2022 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 4/27/2022
Title: Sale of City-owned property at 3345 N Kedvale Ave to CorEtt Builders Corporation
Sponsors: Lightfoot, Lori E.
Topic: PROPERTY - Sale
Attachments: 1. O2022-862.pdf


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

March 23, 2022










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 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 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 property located at 3345 North Kedvale Avenue, Chicago, Illinois 60641, which is legally described on Exhibit A attached hereto and incorporated herein (the "Property"'); and

WHEREAS, CorEtt Builders Corporation, an Illinois corporation ("Grantee"'), submitted a proposal to purchase the Property from the City for the sum of One Hundred Sixty-four Thousand and No/100 Dollars ($164,000.00) (the "Purchase Price"'); and

WHEREAS, the Purchase Price represents the appraised fair market value of the Property as of September 7,2021; and

WHEREAS, Grantee intends to construct a two-story, single-family home with a basement and detached two-car garage on the Property, as depicted in the drawings attached hereto and incorporated herein as Exhibit B (the "Project"); and

WHEREAS, by Resolution No. 22-004-21, adopted on February 17, 2022, the Chicago Plan Commission approved the disposition of the Property; and

WHEREAS, public notice advertising the Department's intent to enter into a negotiated sale of the Property with Grantee and requesting alternative proposals appeared in the Chicago Tribune on January 18 and 24, 2022; and

WHEREAS, no other responsive proposals were received by the deadline set forth in the aforesaid notices; now, therefore,

BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICA...

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