title
PROPOSED SALE OR PURCHASE OF REAL ESTATE
Department(s): Legal Department
Other Part(ies): TJL Properties VIII, LLC (Owner of Record), Joliet, Illinois
Request: It is respectfully requested that this proposed purchase be approved.
Description of Real Estate: 1309 East Joe Orr Road, Lynwood, Cook County, Illinois
Section: N/A
Parcel(s): 32-14-100-012-0000, 32-14-100-014-0000, & 32-14-200-020-0000
PARCEL 1:
THE SOUTH 1/2 OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF SECTION 14, TOWNSHIP 35 NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT ALSO FROM SAID PARCEL THE SOUTH 115.5 FEET THEREOF AND THAT PORTION OF THE SAID PARCEL THAT LIES WEST OF THE CENTERLINE OF DEER CREEK) IN COOK COUNTY, ILLINOIS.
PARCEL 2:
THE NORTH 1/2 OF THE NORTH 1/2 OF THE NORTHWEST 1/4 OF SECTION 14, TOWNSHIP 35 NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN, EXCEPTING THAT PORTION OF THE SAID PARCEL THAT LIES WEST OF THE CENTERLINE OF DEER CREEK, IN COOK COUNTY, ILLINOIS.
PARCEL 3:
THE WEST 1/2 OF THE NORTHEAST 1/4 OF SECTION 14, TOWNSHIP 35 NORTH, RANGE 14, EAST OF THE THIRD PRINCIPAL MERIDIAN, (EXCEPT THEREFROM THE NORTH 150 FEET OF THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4 CONVEYED TO PUBLIC SERVICE COMPANY OF NORTHERN ILLINOIS, BY WARRANTY DEED DATED DECEMBER 18, 1923 AND RECORDED DECEMBER 21, 1923 AS DOCUMENT NUMBER 8227745, AND EXCEPT THAT PART FALLING IN THE SOUTH 115 1/2 FEET OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4 AND EXCEPT THAT PART OF THE NORTHWEST 1/4 OF THE NORTHEAST 1/4
DESCRIBED AS FOLLOWS:
BEGINNING AT THE NORTHEAST CORNER OF THE SAID NORTHWEST 1/4; THENCE WEST ALONG THE NORTH LINE OF SAID NORTHWEST 1/4, A DISTANCE OF 75 FEET; THENCE SOUTH ALONG A LINE FORMING AN ANGLE OF 89 DEGREES, 15 MINUTES 00 SECONDS WITH THE LAST DESCRIBED COURSE MEASURED FROM EAST TO SOUTH, A DISTANCE OF 29.61 FEET; THENCE SOUTHEASTERLY ALONG A CURVED LINE TANGENT TO THE LAST DESCRIBED COURSE CONVEX TO THE SOUTHWEST AND HAVING A RADIUS OF 5904.65 FEET, A DISTANCE OF 941.39 FEET TO THE EAST LINE OF SAID NORTHWEST 1/4 OF THE NORTHEAST 1/4; THENCE NORTH ALONG THE EAST LINE OF SAID NORTHWEST 1/4 TO THE PLACE OF BEGINNING, AND ALSO EXCEPT THAT PART OF THE SOUTHWEST 1/4 OF THE NORTHEAST 1/4
DESCRIBED AS FOLLOWS:
BEGINNING AT THE SOUTHEAST CORNER OF SAID SOUTHWEST 1/4; THENCE NORTH 180 FEET; THENCE WEST 47.70 FEET; THENCE SOUTH 120 FEET; THENCE WESTERLY ALONG A STRAIGHT LINE TO A POINT WHICH IS 50 FEET NORTH OF AND 660 FEET WEST OF SAID SOUTHEAST CORNER OF THE SOUTHWEST 1/4; THENCE SOUTH 50 FEET TO THE SOUTH LINE OF SAID SOUTHWEST 1/4; THENCE EAST ALONG SAID SOUTH LINE TO THE POINT OF BEGINNING, IN COOK COUNTY, ILLINOIS.
PINS: 32-14-100-012-0000, 32-14-100-014-0000, & 32-14-200-020-0000
SAID PARCELS CONTAINING 3,896,877.6 SQUARE FEET, OR 89.46 ACRES, MORE OR LESS.
Fiscal Impact: $860,000.00 plus closing costs up to $10,000.00 (up to $870,000.00 in total)
Accounts: Real Estate and Land Acquisition Fund 51006.560010; and Grant Fund 51010.560020
District(s): 5
Summary: The Forest Preserves of Cook County (the “Forest Preserves”) has identified three parcels of land for acquisition that would add to the Forest Preserves’ current holdings near Sweet Woods (the “Property”). The Property, commonly known as 1309 East Joe Orr Road, Lynwood, Cook County, Illinois, consists of approximately 89.46 ± acres. The Property has naturally fallowed land and contains a part of Deer Creek, as well as a 20-acre pond that serves as a nesting and stopover location for waterfowl.
Through negotiations, the Owner of Record (the “Seller”), has agreed to sell the Property to the Forest Preserves for the sum of EIGHT HUNDRED SIXTY THOUSAND DOLLARS AND 00/100 ($860,000.00) plus closing costs up to $10,000.00 (up to $870,000.00 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. The Forest Preserves was awarded a Land and Water Conservation Fund grant for this acquisition and will be reimbursed up to 50% of the purchase price up to $430,000.00 (Board Item No. 19-0372).
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.
end