title
PROPOSED PURCHASE OF REAL ESTATE
Department(s): Legal Department
Other Part(ies): 3850 Columbus LLC (Owner of Record)
Request: It is respectfully requested that this proposed purchase be approved.
Description of Real Estate: 3850 Columbus Blvd, Unincorporated Riverside Township, Cook County, Illinois
Section: N/A
Parcel(s): PIN: 15-36-310-012-0000
LOT 10 IN BLOCK 5 IN RIVERSIDE LAWN, BEING A SUBDIVISION IN SECTION 36, TOWNSHIP 39 NORTH, RANGE 12, EAST OF THE THIRD PRINCIPAL MERIDIAN, IN COOK COUNTY, ILLINOIS.
SAID PARCEL CONTAINING 6,098 SQUARE FEET, OR 0.14 ACRES, MORE OR LESS.
Fiscal Impact: $130,000.00 purchase price plus closing costs up to $10,000.00 (up to $140,000.00 in total).
Accounts: Real Estate and Land Acquisition Fund 51006.560010
District(s): 16
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 Cermak Woods (the "Property"). The Property, commonly known as 3850 Columbus Blvd, Unincorporated Riverside Township, Cook County, Illinois, consists of approximately 0.14 ? acres.
Through negotiations, the Owner of Record (the "Seller"), has agreed to sell the Property to the Forest Preserves for the sum of ONE HUNDRED THIRTY THOUSAND DOLLARS AND 00/100 ($130,000.00) plus closing costs up to $10,000.00 (up to $140,000.00 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'...
Click here for full text