HomeMy WebLinkAboutRESOLUTIONS-1999-077-R-9911 /2/99
• 77-R-99
A RESOLUTION
Authorizing Purchase of and Directing
City Manager to Enter into a Contract for the
Purchase of 633 Howard Street, Evanston, Illinois
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF EVANSTON,
COOK COUNTY, ILLINOIS:
SECTION 1: That the City Manager is hereby authorized and directed to
purchase the real estate known as 633 Howard Street, Evanston, Illinois.
SECTION 2: That the City Manager is hereby authorized and directed to sign
and the City Clerk hereby authorized and directed to attest on behalf of the City of
• Evanston a contract for the purchase of the real estate known as 633 Howard Street,
Evanston, Illinois. Such contract shall be in substantial conformity with the terms as set
forth in Exhibit A: "Terms of Purchase"
SECTION 3: That this Resolution shall be in full force and effect from and after
its passage and approval in the manner provi� y law.
I9layor
ATTEST:
it Clerk
1,
Adopted: ' (;� *r 'i �t�k `' , 1999
•
11/04/99 THU 15:17 FAX 312 456 1132
--- US EQUITIES
Q 002
6*W AM
20 North Michigan Avenue
Suite 400
Chicago, NGnois 6=2
(312) 456-7000 Fax (312) 456-0056
November 4, 1999
Ms. Judith A. Aiello
Assistant City Manager
City of Evanston
2100 Ridge Avenue
Evanston, IL 60201
Re: 633 Howard Street
Dear Judy:
The City of Evanston is considering the purchase of 633 Howard Street for use as a Police Outpost.
1 have negotiated the following terms with the owner, Russell Ruth,
• Price- $100,000.00
• Closing target date: On or before November 30, 1999
• Seller to provide title policy and survey to City's satisfaction
• Real estate taxes and utilities to be prorated as of the date of sale.
• The money (approximately $10,000,00) being held by the owner in connection with the lease
the City signed for the property shall be retained by the owner as liquidated damages for any
and all claims the owner may assert related to that lease.
If the terms are satisfactory to you and the Council approves the terms of the transaction, please have the
City's Law Department draft a short contract and proceed to arrange a timely closing. The owner has
indicated that a quick closing is important to him and that he may be forced to change the terms if the
closing is significantly delayed.
If you have any question or need any additional information, do not hesitate to call.
Sincerely,
��° :3;4
WaTa---
*t_�
Martin Stern
Senior Vice President
•
•
cc: Herb Hill