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PROPOSED PURCHASE OF REAL ESTATE
Department(s): Legal Department
Other Part(ies): Neil Nielsen, independent executor of the estate of Mary T. Bailey, deceased (Owner of Record)
Request: It is respectfully requested that this proposed purchase be approved.
Description of Real Estate: 290 E. Glenwood Dyer Road, Glenwood, Illinois & Part of 220 E. Glenwood Dyer Road, Unincorporated Cook County, Illinois
Section: N/A
Parcel(s): Part of PINs: 32-10-200-010-0000 & 32-10-200-011-0000
EXCEPTING THAT PART NORTH OF DEER CREEK; THAT PART OF THE NORTHEAST 1/4 OF SECTION 10, TOWNSHIP 35 NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF THE NORTHEAST 1/4 OF SAID SECTION 10; THENCE NORTH 89 DEGREES, 09 MINUTES, 05 SECONDS EAST ALONG THE SOUTH LINE OF SAID NORTHEAST 1/4, 50.00 FEET; THENCE NORTH 22 DEGREES, 48 MINUTES, 38 SECONDS WEST 53.91 FEET TO A POINT ON THE EAST LINE OF THE WEST 30.00 FEET OF SAID NORTHEAST 1/4 WHICH IS 50 FEET NORTH OF THE SOUTH LINE OF SAID NORTHEAST 1/4; THENCE NORTH 01 DEGREE, 02 MINUTES, 05 SECONDS WEST ALONG THE EAST LINE OF THE WEST 30.00 FEET OF SAID NORTHEAST 1/4 2,593.16 FEET TO THE NORTH LINE OF SAID NORTHEAST 1/4; THENCE SOUTH 89 DEGREES, 04 MINUTES, 17 SECONDS WEST ALONG SAID NORTH LINE 30.00 FEET TO THE NORTHWEST CORNER OF SAID NORTHEAST 1/4; THENCE SOUTH 01 DEGREES, 02 MINUTES, 05 SECONDS EAST ALONG THE WEST LINE OF SAID NORTHEAST 1/4 2,643.12 FEET TO THE POINT OF BEGINNING (EXCEPT THAT PART THEREOF FALLING IN GLENWOOD-DYER ROAD), IN COOK COUNTY, ILLINOIS.
SAID PARCELS CONTAINING 1,110,780 SQUARE FEET, OR 25.50 ACRES, MORE OR LESS.
Fiscal Impact: $950,000.00 purchase price plus closing costs up to $10,000.00 (up to $960,000.00 in total).
Accounts: Real Estate and Land Acquisition Fund 51006.560010; and ARPA Fund 51032.560010
District(s): 5
Summary: The Forest Preserves of Cook County (the “Forest Preserves”) has identified two (2) parcels of land for acquisition that would add to the Forest Preserves’ current holdings near Sweet Woods (the “Property”). The Property, commonly known as 290 E. Glenwood Dyer Road, Glenwood, Illinois & Part of 220 E. Glenwood Dyer Road, Unincorporated Cook County, Illinois, consist of approximately 25.50 ± acres. The Property has natural and fallowed land and contains a part of Deer Creek.
Through negotiations, the Owner of Record (the “Seller”), has agreed to sell the Property to the Forest Preserves for the sum of NINE HUNDRED FIFTY THOUSAND DOLLARS AND 00/100 ($950,000.00) plus closing costs up to $10,000.00 (up to $960,000.00 in total). The purchase price is based upon two (2) M.A.I. appraisals obtained by the Forest Preserves and is subject to the Forest Preserves’ satisfactory completion of its due diligence.
Permission is now sought, upon satisfactory completion of all due diligence and negotiation of any and all required documentation as determined by the Forest Preserves Legal Department, to effectuate payment in the amount of the purchase price plus closing costs as full compensation for the acquisition of the Property.
This land acquisition advances the goals of the Forest Preserves’ Southeast Cook County Land Acquisition Plan, Next Century Conservation Plan, and Acquisition and Disposition of Land Position Paper.
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