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PROPOSED ACQUISITION OF REAL ESTATE
Department: Legal Department
Other Part(ies): Chicago Housing Authority (“CHA”), Chicago, Illinois
Request: It is respectfully requested that this proposed purchase through an Intergovernmental Agreement with the CHA be approved.
Description of Real Estate: S. Greenwood Avenue & E. 133rd Street, Chicago, Cook County, Illinois
Section: N/A
Parcel(s): Part of PIN 25-35-100-020-0000
THAT PART OF BLOCK 4 IN ALTGELD GARDENS SUBDIVISION, BEING A SUBDIVISION OF PART OF THE NORTHEAST QUARTER OF SECTION 34, AND PART OF THE NORTHWEST QUARTER OF SECTION 35, ALL IN TOWNSHIP 37 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED MARCH 20, 1947 AS DOCUMENT NO. 14017505, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHWEST CORNER OF SAID BLOCK 4; THENCE NORTHERLY ALONG THE WEST LINE OF SAID BLOCK 4, BEING A 3233.00 FOOT RADIUS CURVE, CONCAVE WESTERLY, 33.23 FEET, THE CHORD OF SAID CURVE BEARS NORTH 06 DEGREES 09 MINUTES 53 SECONDS EAST, 33.23 FEET; THENCE NORTH 89 DEGREES 25 MINUTES 07 SECONDS EAST, 37.50 FEET; THENCE SOUTH 59 DEGREES 34 MINUTES 46 SECONDS EAST, 64.07 FEET TO A POINT ON THE SOUTH LINE OF SAID BLOCK THAT IS 96.32 FEET EAST OF, THE SOUTHWEST CORNER OF SAID BLOCK, AS MEASURED ON SAID SOUTH LINE; THENCE SOUTH 89 DEGREES 25 MINUTES 07 SECONDS WEST, ON SAID SOUTH LINE, 96.32 FEET TO THE POINT OF BEGINNING, ALL IN COOK COUNTY, ILLINOIS.
SAID PARCEL CONTAINING 2,224 SQUARE FREET, OR 0.05 ACRES, MORE OR LESS.
Fiscal Impact: $5,000.00 purchase price plus closing costs up to $10,000.00 (up to $15,000.00 in total).
Accounts: Real Estate and Land Acquisition Fund 51006.560010; and Land Improvements 51009.560019
District: 5
Summary: The proposed 130th Street Chicago Transit Authority (“CTA”) Station will be the new terminal station for the Red Line Extension located just to the east of the CHA Altgeld Gardens housing community. As mitigation for the effects of the extension project on the Forest Preserves of Cook County’s (“Forest Preserves”) Beaubien Woods and to support the CHA and other community members in the area, the CTA agreed to provide funding to the Forest Preserves to connect the Altgeld Gardens community to the Beaubien Woods Boat Launch (See Board Item Nos. 23-0515 and 23-0520).
The CTA therefore transferred two (2) parcels of land to the Forest Preserves for this connection through an intergovernmental agreement. The acquisition now before the Board with the CHA includes an intergovernmental agreement between the parties (the “IGA”) to allow for the CHA to transfer approximately 2,224 square feet of additional CHA land near Greenwood Avenue to complete this trail connection (the “Property”). This new trail connection will encourage the community to use Beaubien Woods and its facilities. This project also includes a new public restroom at Beaubien Woods, which will require a connection for water service through the proposed trail corridor. The IGA and conveyance permits this water connection as well.
Through negotiations, the CHA has agreed to sell the Property to the Forest Preserves for the sum of FIVE THOUSAND DOLLARS AND 00/100 ($5,000.00) plus closing costs up to $10,000.00 (up to $15,000.00 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, Land Acquisition Plan, and Acquisition and Disposition of Land Position Paper.end