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PROPOSED PURCHASE OF REAL ESTATE
Department(s): Legal Department
Other Part(ies): The Conservation Fund, A Nonprofit Corporation (Owner of Record)
Request: It is respectfully requested that this proposed purchase be approved.
Description of Real Estate: Parts of 19100 E. Glenwood Dyer Road & 2990 Ridge Road, Unincorporated Cook County, Illinois
Section: N/A
Parcel(s): Part of PINs: 32-11-301-001-0000 & 32-11-400-004-0000
PARCEL C:
THAT PART OF THE EAST HALF OF THE SOUTHWEST QUARTER LYING SOUTH OF GLENWOOD-DYER ROAD OF SECTION 11, TOWNSHIP 35 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS, AND THAT PART OF THE WEST HALF (EXCEPT THE EAST 990.0 FEET THEREOF MEASURED ON SOUTH LINE) OF THE SOUTHEAST QUARTER OF SECTION 11, TOWNSHIP 35 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, WHICH LIES SOUTH OF GLENWOOD-DYER ROAD, IN COOK COUNTY, ILLINOIS, DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF THE EAST HALF OF THE SOUTHWEST QUARTER OF SAID SECTION 11; THENCE SOUTH 89° 39’ 53” WEST A DISTANCE OF 1322.00 FEET TO THE SOUTHWEST CORNER OF THE EAST HALF OF SAID SOUTHWEST QUARTER; THENCE NORTH 01° 02’ 19” WEST ALONG THE WEST LINE OF THE EAST HALF OF THE SOUTHWEST QUARTER, A DISTANCE OF 2,650.68 FEET TO THE NORTHWEST CORNER OF THE EAST HALF OF THE SOUTHWEST QUARTER; THENCE NORTH 89° 38’ 28” EAST ALONG THE NORTH LINE OF THE EAST HALF OF THE SOUTHWEST QUARTER, A DISTANCE OF 350.00 FEET; THENCE DEPARTING SAID NORTH LINE, ON A LINE PARALLEL WITH THE WEST LINE OF THE EAST HALF OF THE SOUTHWEST QUARTER ON A BEARING OF SOUTH 01° 02’ 19” EAST, A DISTANCE OF 600.00 FEET; THENCE SOUTH 54° 01’ 29” EAST, A DISTANCE OF 1,217.48 FEET TO THE EAST LINE OF THE EAST HALF OF THE SOUTHWEST QUARTER, ALSO BEING THE WEST LINE OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SECTION 11; THENCE CONTINUING ALONG LAST SAME LINE ON A BEARING OF SOUTH 54° 01’ 29” EAST, A DISTANCE OF 412.84 FEET TO THE WEST LINE OF THE EAST 990.0 FEET OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SECTION 11; THENCE SOUTH 01° 03’ 52” EAST ALONG LAST SAID WEST LINE OF THE EAST 990.0 FEET OF THE WEST HALF OF THE SOUTHEAST QUARTER OF SECTION 11, A DISTANCE OF 1,085.40 FEET TO THE SOUTHWEST CORNER OF THE EAST 990.0 FEET OF THE WEST HALF OF THE SOUTHEAST QUARTER; THENCE SOUTH 89° 40’ 26” WEST ALONG THE SOUTH LINE OF SAID WEST HALF OF THE SOUTHEAST QUARTER, A DISTANCE OF 330.38 FEET TO THE POINT OF BEGINNING, ALL IN COOK COUNTY, ILLINOIS.
TOGETHER WITH A NON-EXCLUSIVE 24.00-FOOT-WIDE INGRESS AND EGRESS EASEMENT FROM GLENWOOD-DYER ROAD ALONG THE EASTERN PROPERTY BOUNDARY OF PIN 32-11-400-004.
SAID PARCEL CONTAINING 2,969,287 SQUARE FEET, OR 68.17 ACRES, MORE OR LESS.
SAID EASEMENT CONTAINING 31,200 SQUARE FEET, OR 0.72 ACRE, MORE OR LESS.
Fiscal Impact: $1,310,000.00 purchase price plus closing costs up to $10,000.00 (up to $1,320,000.00 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 a parcel of land for acquisition that would add to the Forest Preserves’ current holdings near Sweet Woods (the “Property”). The Property, commonly known as Parts of 19100 E. Glenwood Dyer Road & 2990 Ridge Road, Unincorporated Cook County, Illinois, consists of approximately 68.17 ± acres plus an approximately 0.72 acre ± Ingress and Egress Easement. 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 ONE MILLION THREE HUNDRED TEN THOUSAND DOLLARS AND 00/100 ($1,310,000.00) plus closing costs up to $10,000.00 (up to $1,320,000.00 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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