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File #: 21-0005    Version: 1 Name: Glenwood Academy (Owner of Record)
Type: Sale or Purchase of Real Estate Status: Approved
File created: 9/24/2020 In control: Real Estate Committee
On agenda: 2/24/2021 Final action: 3/18/2021
Title: PROPOSED SALE OR PURCHASE OF REAL ESTATE Department(s): Legal Department Other Part(ies): Glenwood Academy (Owner of Record) Request: It is respectfully requested that this proposed purchase be approved. Description of Real Estate: Portion of Glenwood Academy, 500 West 187th St, Village of Glenwood, Cook County, Illinois Section: N/A Parcel(s): Part of PIN 32-04-300-018-0000 PARCEL 1 THAT PART OF THE SOUTH HALF OF SECTION 4, TOWNSHIP 35 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTH HALF OF SECTION 4; THENCE NORTH 89 DEGREES 10 MINUTES 10 SECONDS EAST ALONG THE NORTH LINE OF SAID SOUTH HALF OF SECTION 4 A DISTANCE OF 2386.89 FEET, TO THE INTERSECTION WITH THE NORTHERLY LINE OF 187TH STREET, AS HERETOFORE DEDICATED BY PLAT OF DEDICATION RECORDED FEBRUARY 7, 1962 AS DOCUMENT 18395037 AND THE POINT OF BEGINNING; THENCE CONTINUE NORTH 89 DEGREES 10 MINUTES 10 SECONDS EAST ALONG SAID NORTH LINE...
Indexes: ARNOLD RANDALL, General Superintendent
Related files: 21-0004

title

PROPOSED SALE OR PURCHASE OF REAL ESTATE

 

Department(s):  Legal Department

 

Other Part(ies):  Glenwood Academy (Owner of Record)

 

Request:  It is respectfully requested that this proposed purchase be approved.

 

Description of Real Estate:  Portion of Glenwood Academy, 500 West 187th St, Village of Glenwood, Cook County, Illinois

 

Section:  N/A

 

Parcel(s):  Part of PIN 32-04-300-018-0000

 

PARCEL 1

 

THAT PART OF THE SOUTH HALF OF SECTION 4, TOWNSHIP 35 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS:  COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTH HALF OF SECTION 4; THENCE NORTH 89 DEGREES 10 MINUTES 10 SECONDS EAST ALONG THE NORTH LINE OF SAID SOUTH HALF OF SECTION 4 A DISTANCE OF 2386.89 FEET, TO THE INTERSECTION WITH THE NORTHERLY LINE OF 187TH STREET, AS HERETOFORE DEDICATED BY PLAT OF DEDICATION RECORDED FEBRUARY 7, 1962 AS DOCUMENT 18395037 AND THE POINT OF BEGINNING; THENCE CONTINUE NORTH 89 DEGREES 10 MINUTES 10 SECONDS EAST ALONG SAID NORTH LINE 714.38 FEET, TO A STRIP OF LAND 50 FEET WIDE WESTERLY OF AND PARALLEL WITH AND IMMEDIATELY ADJOINING THE RIGHT-OF-WAY OF THE B. AND O. C. T. RAILROAD COMPANY, FORMERLY CHICAGO TERMINAL RAILROAD COMPANY, CONVEYED TO THE PUBLIC SERVICE COMPANY OF NORTHERN ILLINOIS BY QUIT CLAIM DEED DATED DECEMBER 5, 1922 AND RECORDED DECEMBER 16, 1922 AS DOCUMENT 7749522; THENCE SOUTH 00 DEGREES 36 MINUTES 45 SECONDS EAST ALONG THE WEST LINE OF SAID STRIP OF LAND 16.39 FEET, TO A NON-TANGENTIAL CURVE; THENCE SOUTHERLY 317.25 FEET ALONG SAID NON-TANGENTIAL CURVE AND THE WEST LINE OF SAID STRIP BEING A CIRCLE CONVEX WESTERLY HAVING A RADIUS OF 3909.22 FEET AND A CHORD BEARING OF SOUTH 02 DEGREES 56 MINUTES 12 SECONDS EAST, TO A NON-TANGENTIAL LINE; THENCE SOUTH 05 DEGREES 15 MINUTES 44 SECONDS EAST ALONG SAID NON-TANGENTIAL LINE AND THE WEST LINE OF SAID STRIP 378.80 FEET, TO THE NORTH LINE OF CHICAGO HEIGHTS-GLENWOOD ROAD; THENCE SOUTH 84 DEGREES 59 MINUTES 10 SECONDS WEST 313.35 FEET, TO THE EASTERLY LINE OF SAID 187TH STREET; THENCE NORTH 19 DEGREES 49 MINUTES 50 SECONDS WEST ALONG SAID EASTERLY LINE OF 187TH STREET 493.78 FEET, TO A TANGENTIAL CURVE; THENCE WESTERLY 403.71 FEET ALONG SAID TANGENTIAL CURVE BEING THE NORTHEASTERLY LINE OF SAID 187TH STREET AND THE ARC OF A CIRCLE CONVEX NORTHEASTERLY HAVING A RADIUS OF 419.60 FEET AND A CHORD BEARING OF NORTH 47 DEGREES 23 MINUTES 37 SECONDS WEST, TO THE POINT OF BEGINNING, IN COOK COUNTY, ILLINOIS.

 

PARCEL 2

 

THAT PART OF THE SOUTH HALF OF SECTION 4, TOWNSHIP 35 NORTH, RANGE 14 EAST OF THE THIRD PRINCIPAL MERIDIAN, DESCRIBED AS FOLLOWS:  COMMENCING AT THE NORTHWEST CORNER OF SAID SOUTH HALF OF SECTION 4; THENCE NORTH 89 DEGREES 10 MINUTES 10 SECONDS EAST ALONG THE NORTH LINE OF SAID SOUTH HALF OF SECTION 4 A DISTANCE OF 2386.89 FEET, TO THE INTERSECTION WITH THE NORTHERLY LINE OF 187TH STREET, AS HERETOFORE DEDICATED BY PLAT OF DEDICATION RECORDED FEBRUARY 7, 1962 AS DOCUMENT 18395037; THENCE CONTINUE NORTH 89 DEGREES 10 MINUTES 10 SECONDS EAST ALONG SAID NORTH LINE 714.38 FEET, TO A STRIP OF LAND 50 FEET WIDE WESTERLY OF AND PARALLEL WITH AND IMMEDIATELY ADJOINING THE RIGHT-OF-WAY OF THE B. AND O. C. T. RAILROAD COMPANY, FORMERLY CHICAGO TERMINAL RAILROAD COMPANY, CONVEYED TO THE PUBLIC SERVICE COMPANY OF NORTHERN ILLINOIS BY QUIT CLAIM DEED DATED DECEMBER 5, 1922 AND RECORDED DECEMBER 16, 1922 AS DOCUMENT 7749522; THENCE SOUTH 00 DEGREES 36 MINUTES 45 SECONDS EAST ALONG THE WEST LINE OF SAID STRIP OF LAND 16.39 FEET, TO A NON-TANGENTIAL CURVE; THENCE SOUTHERLY 317.25 FEET ALONG SAID NON-TANGENTIAL CURVE AND THE WEST LINE OF SAID STRIP BEING A CIRCLE CONVEX WESTERLY HAVING A RADIUS OF 3909.22 FEET AND A CHORD BEARING OF SOUTH 02 DEGREES 56 MINUTES 12 SECONDS EAST, TO A NON-TANGENTIAL LINE; THENCE SOUTH 05 DEGREES 15 MINUTES 44 SECONDS EAST ALONG SAID NON-TANGENTIAL LINE AND THE WEST LINE OF SAID STRIP 446.90 FEET, TO THE SOUTHEASTERLY LINE OF CHICAGO HEIGHTS-GLENWOOD ROAD AND THE POINT OF BEGINNING; THENCE CONTINUE SOUTH 05 DEGREES 15 MINUTES 44 SECONDS EAST ALONG THE WEST LINE OF SAID STRIP 1441.58, TO THE NORTH LINE OF THE SOUTH 428 FEET OF SAID SOUTH HALF OF SECTION 4; THENCE SOUTH 89 DEGREES 04 MINUTES 11 SECONDS WEST ALONG SAID NORTH LINE 886.69 FEET, TO THE NORTHWEST CORNER OF OUTLOT A IN GLENWOOD SCIENCE PARK, BEING A SUBDIVISION OF PART OF SAID SOUTH HALF OF SECTION 4 ACCORDING TO THE PLAT THEREOF RECORDED FEBRUARY 21, 1967 AS DOCUMENT 20068371; THENCE NORTH 20 DEGREES 30 MINUTES 12 SECONDS EAST ALONG THE EASTERLY LINE OF CHICAGO HEIGHTS-GLENWOOD ROAD 125.90 FEET; THENCE NORTH 23 DEGREES 21 MINUTES 50 SECONDS EAST ALONG THE EASTERLY LINE OF CHICAGO HEIGHTS-GLENWOOD ROAD 1212.65 FEET, TO A TANGENTIAL CURVE; THENCE NORTHEASTERLY 325.63 FEET ALONG SAID TANGENTIAL CURVE AND THE SOUTHEASTERLY LINE OF SAID CHICAGO HEIGHTS-GLENWOOD ROAD BEING A CIRCLE CONVEX NORTHWESTERLY HAVING A RADIUS OF 405.74 FEET AND A CHORD BEARING OF NORTH 46 DEGREES 21 MINUTES 20 SECONDS EAST, TO THE POINT OF BEGINNING, IN COOK COUNTY, ILLINOIS.

 

AREA                     =                      313,385 SQ. FT. OR 7.194 ACRES

 

                                           731,734 SQ. FT. OR 16.798 ACRES

 

                                          1,045,119 SQ. FT. OR 23.992 ACRES

 

Fiscal Impact:  $125,000.00 plus closing costs up to $10,000.00 (up to $135,000.00 in total)

 

Accounts:  Real Estate and Land Acquisition Fund 51006.560010

 

District(s): 6

 

Summary:  The Forest Preserves of Cook County (the “Forest Preserves”) has identified two parcels of land for acquisition that would add to the Forest Preserves’ current holdings near Glenwood Woods (the “Property”). The Property, commonly known as a portion of Glenwood Academy, Glenwood, Cook County, Illinois, consists of approximately 23.992 ± acres. The Property contains the confluence of Butterfield Creek and Thorn Creek, and the acquisition would bolster the Forest Preserves holdings near Glenwood Woods.

 

Through negotiations, the Owner of Record (the “Seller”), has agreed to sell the Property to the Forest Preserves for the sum of ONE HUNDRED TWENTY-FIVE THOUSAND DOLLARS AND 00/100 ($125,000.00) plus closing costs up to $10,000.00 (up to $135,000.00 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 Next Century Conservation Plan.

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