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Home My WebLink AboutORDINANCES-1975-042-O-75• a6,3 Adopted as Amended 5-12-75 42-0-75 AN ORDINANCE Authorizing Advertising for Bids for the Sale of Certain Real Estate WHEREAS, the City of Evanston is the owner of property hereinafter llegally described; and WHEREAS, said property is presently used for public off-street parking facilities; and WHEREAS, in the opinion of the corporate authorities of the City of Evanston, said real estate is no longer necessary, appropriate, required for the use of, profitable to, or in the best interest of said City; and WHEREAS, the corporate authorities of the City of Evanston determined `that the best interest of the City of Evanston would be served•by the conveyance! of said property to parties who will develop said property for an office building in accordance with the terms and conditions hereinafter set forth. NOW, THEREFORE, BE IT ORDAINED by the City Council of the City of Evanston, Cook County, Illinois: SECTION 1: That the City Manager be and is hereby authorized and directed to give notice of a proposal to sell real estate legally described as: Parcel 1: Lots 8, 9, 10 and 11 in P. Judson's Subdivision of Lot 1 in Langworthy's Subdivision of Block 64 in Evanston in the South West 1/4 of Section 18, Township 41 North, Range 14 East of the Third Principal Meridian, in Cook County, Illinois. I Parcel 2: All of Lot 9, and that part of Lots 7, 8, and of Lot 11 I (except the North 7 feet of the East 148 feet'of said Lot 11) and ` of the vacated alleys in said Lots and of the vacated alley lying i South and adjoining said Lot 7 and North and adjoining said Lots 8 I and 9 all in Langworthy's Subdivision of Block 64 in Evanston lying East of a line described as follows: Commencing at the South East I corner of Lot 8 aforesaid, thence North 89 degrees 56' 20" West , along the South line of said Lot 8, 7.13 feet to the place of ' beginning of the herein described line, then North 20 degrees 32'. ' 30" West to the North line of Lot 7 in Langworthy's Subdivision aforesaid, all in the South West 1/4 of Section 18, Township 41 f North, Range 14 East of the Third Principal Meridian, in Cook ` County, Illinois, scommonly known as the Sherman and Grove Parking Lot. i SECTION 2: That said notice of a proposal to sell shall be published I ; i for three successive weeks in The Evanston Review, a weekly • • • 18, -2- newspaper published in the City of Evanston. The first publication shall be not less than 30 days before the date provided in•said notice for the opening of bids for the real estate. All such bids shall be opened at a regular ,meeting of the City Council of the City of Evanston. The corporate authorities '`may accept the high bid or any other bid determined by them to be in the best 1, ,interest of the City.of Evanston. The City Council may reject any and all- f, bids. , I SECTION 3: That the notice of proposal to sell real estate shall be in substantially the following form:. "Notice of Proposal to Sell Real Estate. Public Notice is hereby given that the City of Evanston proposes to sell the following described real estate, to wit: Parcel 1: Lots 8, 9, 10 and 11 in P. Judson's Subdivision of Lot 1 in Langworthy's Subdivision of Block 64 in Evanston in the South West 1/4 of Section 18, Township 41 North, Range 14 East of the Third Principal Meridian, in Cook County, Illinois. Parcel 2: All of Lot 9, and that part of Lots 7, 8, and of Lot 11 (except the North 7 feet of the East 148 feet of said Lot 11) and of the.vacated alleys in said Lots and of the vacated alley lying South and adjoining said Lot 7 and North and adjoining said Lots 8 and 9 all in Langworthy's Subdivision of Block 64 in Evanston lying East of a line described as follows: Commencing at the South East corner of Lot 8 aforesaid, thence North 89 degrees 56' 20" West along the South line of said Lot 8, 7.13 feet to the place of beginning of the herein described line, then North Subdivision aforesaid, all in the South West 1/4 of Section 18, Township 41 North, Range 14 East of the Third Principal Meridian, in Cook County, Illinois, commonly known as The Sherman and Grove Parking Lot, as diagrammed below.1 The property proposed to be sold is presently utilized for public off-street parking facilities.. The City of Evanston proposes to sell said property upon the following terms and conditions: i 1. The site is to be improved by the construction of a multi -story office building containing no less than 280,000 square feet S` exclusive of off-street parking facilities and shall provide 2; retail sales areas. 2. Evidence of commitment by a single major tenant for no less ' than 100,000 square feet of said office space for a term of twenty years will accompany said bid. j i 3. The proposed improvement shall include provision for off-street parking facilities in accordance with the existing requirements of the Zoning Ordinance. j �m .SUBJECT P PcO P ERT Y. > PAR CF—I— I Pp. KC F-- I— 2 cc V) 0 y E: ST. • • -3- �, 6 4. The bid proposal shall contain satisfactory evidence of the bidder's technical and financial ability to undertake and complete the improvements within a reasonable time. 1 5. The bids shall containea set of plans in sufficient detail as to indicate floor layouts, space utilization, and exterior appearance i including a landscape plan together with a work schedule for plan submission, construction commencement, and project completion and i; occupancy. 6. In addition to other requirements set forth, the bid shall contain a detailed traffic study, conducted and submitted by a competent traffic engineer, of projected traffic flow and impact occasioned by the improvement together with required street improvements if any, -and financing proposals attendant thereto. 7. Transfer of title to the property herein described shall be subject to the following terms and conditions: �i a. Closing shall be within thirty days of the acceptance of the ij bid, or such other date as shall be mutually agreed, at the office of the City Attorney or purchaser's lender, 'as shall be agreed. i'. ' b._ Five days prior to closing the City shall � y p g y provide evidence of good title contained in a letter of commitment for an owner's ;. title insurance policy in the amount of the purchase price 1j showing title in the grantor, subject to standard exception. If the commitment discloses defects in title, the seller shall have a reasonable time within which to cure such defects. In the event such defects are not cured or if such commitment for i' j' an owner's policy is not delivered, then the purchaser may at its option, upon written notice, declare the contract null and void, or elect to take title subject to the objections of record j and deduct from the purchase price the liens or encumbrances of a definite or ascertainable amount. j c. If the contract is terminated because of purchaser's default, then upon written notice all money deposited with such bid �i shall be paid to the seller as liquidated damages, If the contract is terminated because of seller's default, the bid }; deposit and bonds shall be returned to the purchaser and the contract shall be null and void. d. At the election of either party and upon written notice thereof, the sale shall be completed through an escrow with the title company providing the aforesaid letter of commitment. All payments and the deeds together with this bid notice and pertinent documents shall be deposited therein and the cost thereof shall be equally borne by the purchaser and seller. i; 8. The City is willing to finance this land purchase, subject to reasonable security. Bidder shall submit`a financing proposal which shall include a schedule of debt service. The City acknowledges that it is willing to subordinate its position to + that of primary lenders. r: 9. There shall be submitted with the bid a bid bond or a certified check in favor of the City in the amount of 10% of the bid price. i� Together with such sum or bond shall be a completion bond or other security acceptable to the City to guarantee completion of the proposed development within a reasonable time. ii 10. The City will consider the issuance of Industrial Revenue Bonds at the request of successful bidder to aid financing construction described in paragraphs 1 and 3 above, in the form and extent permitted by law. R i -4- 11. All bids shall be considered in light of the financial requirements of the City's parking system and the projected date of availability of the off-street parking facilities for the improvement. • f 12. The subject property shall remain open and available for municipal ! use without cost to the City as a parking lot until construction commences. 13. The City reserves the right to reject any and all bids, and to accept such bid or waive any requirement hereof as the corporate authorities shall deem to be in the City's best interests. The City shall place great emphasis upon proof of the bidder's ability ! to perform in the manner indicated in his bid proposal. I 14. A covenant running with the land shall be executed stipulating that the property herein developed and improvements thereto shall not be removed from the tax rolls; the identity or status of }} subsequent owners and/or users notwithstanding. Said restriction i! may be waived by subsequent action of the Evanston City Council. The City of Evanston hereby solicits bids for the purchase of said �! real estate. All such bids shall be accompanied by the materials required to satisfy the conditions enumerated above, and should be ! '^ addressed to: Edward A. Martin, City Manager, City of Evanston, Municipal Building, 1501 Oak Avenue, Evanston, Illinois 60204. Such bids should be in writing and filed in the office of the City s Manager of the City of Evanston on or before Monday, June 16, 1975, at the hour of 3:00 p.m. All such bids shall be opened at the regular meeting of the City Council of the City of Evanston held on June 16, 1975, at the hour of 9:00 p.m., in the Municipal Building, 1501 Oak Avenue, Evanston, Illinois." SECTIOTJ 4: This ordinance shall be in full force and effect from and i after its passage and approval in the manner provided by law. Introduced:Mao-, S 1975 'Adopted: mny 19 1975 Approved: M�]� ,1975, 4 /s/ Edgar Vannemn. Jr. Mayor ATTEST: c City Clerk i Approved as to form: !sJ Tack X giAgPi Corporation Counsel ! . i