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PROPOSED SALE OR PURCHASE OF REAL ESTATE
Department(s): Legal Department
Other Part(ies): Estate of Charles J. Petrak Sr. (Owner(s) of Record)
Request: It is respectfully requested that this proposed purchase be approved.
Description of Real Estate: 9700 W 167th Street, Orland Park, Cook County, Illinois
Section: N/A
Parcel(s): 27-21-403-005, 27-21-403-006, & 27-21-403-007
THE WEST 1/2 OF THE SOUTH 1/2 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 AND THE WEST 1/2 OF THE EAST 1/2 OF THE SOUTH 1/2 OF THE SOUTHEAST 1/4 OF THE SOUTHEAST 1/4 OF SECTION 21., TOWNSHIP 36 NORTH, RANGE 12 EAST OF THE THIRD PRINCIPAL MERIDIAN ALL IN COOK COUNTY, ILLINOIS, EXCEPTING THEREFROM THE NORTH SEVENTEEN (17) FEET OF THE SOUTH FIFTY (50) FEET OF THE EAST THREE HUNDRED THIRTY-SIX AND FORTY-TWO HUNDREDTHS (336.42) FEET THEREOF.
SAID PARCELS CONTAINING 662,308 SQUARE FEET, OR 15.204 ACRES, MORE OR LESS.
Fiscal Impact: $790,000.00 plus closing costs up to $10,000.00 (up to $800,000.00 in total).
Accounts: Real Estate and Land Acquisition Fund 51006.560010; and Grant Fund 51010.560010
District(s): 17
Summary: The Forest Preserves of Cook County (the "Forest Preserves") has identified three (3) parcels of land for acquisition that would add to the Forest Preserves' current holdings near Orland Grassland (the "Property"). The Property, commonly known as 9700 W 167th Street, Orland Park, Cook County, Illinois, consists of approximately 15.204 ? acres. The Property contains a wetland and a part of Marley Creek.
Through negotiations, the Owner of Record (the "Seller"), has agreed to sell the Property to the Forest Preserves for the sum of SEVEN HUNDRED NINETY THOUSAND DOLLARS AND 00/100 ($790,000.00) plus closing costs up to $10,000.00 (up to $800,000.00 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 Prese...
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