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PROPOSED SALE OF REAL ESTATE
Department(s): Legal Department
Other Part(ies): Sargon Zaya (“Purchaser”)
Request: It is respectfully requested that this proposed sale be approved.
Description of Real Estate: Surplus Parcel 14
4834 Kirk Street, Skokie, Cook County, Illinois
LOT 12 AND 13 IN BLOCK 4, IN SUPERIOR COURT COMMISSIONERS SUBDIVISION OF THE EAST 10 ½ ACRES (EXCEPT R.R.) OF LOT 1 IN COUNTY CLERKS DIVISION OF THE NORTHEAST ¼ OF SECTION 28, TOWNSHIP 41 NORTH, RANGE 13 EAST OF THE 3RD PRIME MERIDIAN, IN COOK COUNTY, ILLINOIS.
PIN: 10-28-209-037
SAID PARCEL CONTAINING 7,446 SQUARE FEET, OR 0.17103 ACRES, MORE OR LESS.
Section: N/A
Parcel(s): Surplus Parcel 14
Fiscal Impact: $310,000.00 in revenue (minus closing costs not to exceed $10,000.00)
Accounts: Anticipated Land Sales/Surplus 51006.411466
District(s): 13
Summary: The Forest Preserve District of Cook County (the “Forest Preserves”) recently concluded a bidding process for the sale of a surplus parcel that has been approved for sale by the State Legislature, Surplus Parcel 14, consisting of approximately 0.17103 acres (the “Surplus Parcel”) commonly known as 4834 Kirk Street, Skokie, Cook County, Illinois. The Surplus Parcel is not contiguous with or connected to any other Forest Preserves property.
During the mid-1980s, Forest Preserves staff undertook a comprehensive study of all Forest Preserves holdings, resulting in a list of 30 parcels being considered for disposal. Subsequently, the Forest Preserves sought and obtained permission from the State Legislature via Public Act 84-867 (9/23/1985) to offer 28 of the 30 aforementioned parcels for sale, including Surplus Parcel 14, with the monies to accrue to the Forest Preserves Real Estate Acquisition Fund.
The Forest Preserves marketed the Surplus Parcel for sale through local government outreach, on-site signage, and online. The Forest Preserves requested “best offers” from interested parties in the form of a standardized Letter of Intent (“LOI”), setting a minimum bid price of $195,000.00, which was based upon M.A.I. certified appraisals obtained by the Forest Preserves. Three (3) bids were received, and Purchaser was the best responsive bidder. The Purchaser has agreed to purchase the Surplus Parcel from the Forest Preserves for the sum of THREE HUNDRED TEN THOUSAND DOLLARS AND 00/100 ($310,000.00) (the “Purchase Price”).
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 accept the aforementioned Purchase Price, less any customary closing costs, as full compensation for the sale of the Surplus Parcel and to convey by quitclaim deed all of the Forest Preserves’ right, title and interest in the Surplus Parcel.
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