Office of the City Clerk - Record #: O2022-3787

• Record #: O2022-3787
• Type: Ordinance
• Status: Passed
• Intro date: 11/16/2022
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 12/14/2022
• Title: Negotiated sale of vacant City-owned property at 8645 S Yates Blvd to B. Leonard Construction LLC for construction of office space
• Sponsors: Lightfoot, Lori E.
• Topic: PROPERTY - Sale

Date	Journal Page Number	Action By	Action	Result
12/14/2022	58087	City Council	Passed	Pass
12/5/2022		Committee on Housing and Real Estate	Recommended to Pass
11/16/2022	55848	City Council	Referred

OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT
MAYOR
November 16, 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, I transmit herewith ordinances authorizing the sale of City-owned properties.

Your favorable consideration of these ordinances will be appreciated.


Very truly yours,

ORDINANCE

WHEREAS, the City of Chicago ("Citv") 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 real property located at 8645 S. Yates Boulevard, Chicago, Illinois, 60617, consisting of approximately 6,250 sq. ft. (5.89 acres), as legally described on Exhibit A attached hereto (the "Land"); and

WHEREAS, the Land is improved with a former substation comprised of approximately 5,500 square feet (the "Building." and together with the Land, the "Property"); and
WHEREAS, the Building has been vacant since the City stopped providing electricity via City-owned substations; and

WHEREAS, B. Leonard Construction, LLC, an Illinois limited liability company ("Grantee"), is a Chicago-based, Black-owned construction company; and

WHEREAS, Grantee is currently renting office space in Hyde Park and has submitted a proposal to the City's Department of Planning and Development ("DPD") to purchase the Property for $55,500.00 (the "Purchase Price") to renovate the Building for office space for Grantee's use (the "Project"); and

WHEREAS, the Purchase Price represents the appraised fair market value ofthe Property as of April 5, 2022, assuming the land has no adverse environmental conditions; and

WHEREAS, a Phase I Environmental Site Assessment of the Property identified polychlorinated biphenyls ("PCBs") in the concrete flooring of the Building and a suspect underground stora...