OFFICE OF THE MAYOR
CITY OF CHICAGO
RAHM EMANUEL MAYOR
June 8, 2011
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Housing and Economic Development, I transmit herewith ordinances authorizing the sale of City-owned property.
Your favorable consideration of these ordinances will be appreciated.
Very truly yours,
Mayor
ORDINANCE
WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions 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 parcel of property located at 745 N. Cicero Avenue, Chicago, Illinois, which is legally described on Exhibit A attached to this ordinance (the "Property"), which Property is located in the Northwest Industrial Corridor Tax Increment Financing Area ("Area") established pursuant to ordinances adopted by the City Council of the City on December 2, 1998, and published in the Journal of Proceedings of the City Council for such date at pages 86178 through 86379; and . „.
WHEREAS, Irving Barr Living Trust ("Grantee"), 2400 W. Devon Avenue, Chicago Illinois, has offered to purchase the Property from the City for the sum of Fifteen Thousand and No/100 Dollars ($15,000.00), such amount being the appraised fair market value of the Property, to improve with parking thereon; and
WHEREAS, by Resolution No. 11-058-21, adopted by the Plan Commission of the City of Chicago ("Commission") on May 19, 2011, the Commission approved the sale of the Property to the Grantee; and
WHEREAS, public notice advertising the City's intent to enter into a negotiated sale of the Property with the Grantee and requesting alternative proposals appeared in the Chicago Sun-Times, a newspaper of general circulation, on April 18, 2011, and April 25, 2011; and
WHEREAS, no alternative proposals were received by the...
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