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PROPOSED ACQUISITION OF REAL ESTATE
Department: Legal Department
Other Part(ies): Gulzina Eshbaeva (Owner of Record)
Request: It is respectfully requested that this proposed purchase be approved.
Description of Real Estate: 316 Old Sutton Road, Barrington Hills, Cook County, Illinois
Section: N/A
Parcel(s): PIN: 01-16-102-003-0000
THAT PART OF THE SOUTH 710.00 FEET OF THE EAST 768.00 FEET OF THE SOUTHWEST 1/4 OF THE NORTHWEST 1/4 OF SECTION 16, TOWNSHIP 42 NORTH, RANGE 9 EAST OF THE THIRD PRINCIPAL MERIDIAN, LYING NORTH OF THE NORTHERLY RIGHT OF WAY LINE OF ROUTE 62 (ALGONQUIN ROAD), IN COOK COUNTY, ILLINOIS.
SAID PARCEL CONTAINING 237,402 SQUARE FEET, OR 5.45 ACRES, MORE OR LESS
Fiscal Impact: $600,000.00 purchase price plus closing costs up to $10,000.00 (up to $610,000.00 in total).
Accounts: Real Estate and Land Acquisition Fund 51006.560010
District(s): 15
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 Spring Lake (the "Property"). The Property, commonly known as 316 Old Sutton Road, Barrington Hills, Cook County, Illinois, consists of approximately 5.45 ? acres. The Property is near recent acquisitions in the Spring Lake area.
Through negotiations, the Owner of Record (the "Seller"), has agreed to sell the Property to the Forest Preserves for the sum of SIX HUNDRED THOUSAND DOLLARS AND 00/100 ($600,000.00) plus closing costs up to $10,000.00 (up to $610,000.00 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 ...
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