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HomeMy WebLinkAboutORDINANCES-1979-014-O-792/28/79 3/6/79 14-0-79 AN ORDINANCE Authorizing Advertising For Bids For The Sale Of Certain Real Estate WHEREAS, the City of Evanston is desirous of selling the property hereinafter legally described bounded by University Place on the North, Elgin Road on the Northeast, Sherman Avenue on the East, Clark Street on the South, and Benson Avenue on the West, commonly known as the Clark -Benson Triangle; and WHEREAS, said property is presently used as a municipal parking lot j and storage facility for the City of Evanston and includes a storage building • and off-street parking; and i I I 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, or in the best interest of said City; and WHEREAS, the corporate authorities of the City of Evanston deter- mined 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 mixed office commercial use, residential use and related facilities including " i restaurants, a health club, ground floor retail shops, and required parking I as determined by the City of Evanston; all in accordance with the terms and conditions hereinafter set forth; { i NOW, THEREFORE, BE IT URUAINED BY THE CITY COUNCIL OF THE CITY OF � EVANSTON, COOK COUNTY, ILLI140IS: • • i 14-0-79 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: "Lots 4, 5, 6, 7, and 8, those portions of Lots 2, 3, 9, and 10 lying South of a line drawn from a point 44.16 feet East of the Northwest corner of Lot 10 Southeaster- ly to a point 2.05 feet South of the Northeast corner of Lot 4, and the vacated 20 foot alley lying South of said line, all in Block 8, in the Village of Evanston Subdi- vision of Section 13, Township 41 North, Range 13 and Sections 7, 18, and 19, Township 41 North, Range 14, all East of the Third Principal Meridian, in the NW 1/4 of Section 18, Township 41 North, Range 14, East of the Third Principal Meridian, all in the City of Evanston, County of Cook, State of Illinois, commonly known as the Clark -Benson Triangle. SECTION' 2: That said notice of proposal to sell shall be published , for three (3) successive weeks in the Evanston Review, a weekly newspaper published in the City of Evanston. The first publication shall not be less than thirty (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 City of Evanston reserves the right to reject any and all bids, to accept the high bid, or any other bid determined to be in the best interest of the City. The City shall place great emphasis upon the proof of the bidder's ability to !i perform in the manner indicated in his bid proposal. 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: 14-0-79 Lots 4, 5, 6, 7, and 8, those portions of Lots 2, 3, 9, and 10 lying South of a line drawn from a point 44.16 feet East of the Northwest corner of Lot 10 Southeasterly to a point 2.05 feet South of the Northeast corner of Lot 4, and the vacated 20 foot al- ley lying South of said line, all in Block 8, in the Village of Evanston Subdivision of Section 13, Township 41 North, Range 13 and Sections 7, 18, and 19, Township 41 North, Range 14, all East of the Third Prin- cipal Meridian, in the NW 1/4 of Section 18, Township 41 North, Range 14, East of the Third Principal Meridian, all in the City of Evanston, County of Cook, State of Illinois, commonly known as the Clark -Benson Triangle. "The property proposed to be sold is presently utilized as a municipal parking lot and storage facility for the City of Evanston and includes a storage building and off-street park- ing. "The City of Evanston proposes to sell said property upon the following terms and conditions: • 1. The site is to be improved by the construction of: (a) A nine (9) story office building with a maximum height of approximately 115 feet excluding me- chanical penthouse occupying an area approxi- mately 120 feet by 315 feet at street level; with a minimum of 111,000 square feet of office space on seven (7) floors; a luncheon -dinner club on the ninth floor; approximately 12,000 square feet of space for retail use, lobby area and loading dock at street level; with an ex- terior entrance on Clark Street and an interior entrance through the shopping arcade. (b) A ten (10) story condominium building with a maximum height of approximately 100 feet ex- cluding mechanical penthouse, having an approx- imate frontage on Elgin Road of approximately 250 feet; with condominiums on the second through tenth floors providing approximately 106,000 square feet of new residential space, a health club with entrance from the shopping arcade on the ground and/or second floors; a restaurant with entrance on Sherman Avenue on the ground and/or second floors; a lobby with entrance on Elgin Road on the ground floor; and a potential for a roof -top outdoor area off a a second floor restaurant area. • (c) A glass roofed arcade approximately 40 feet wide designed as an indoor street at ground level, with approximately 11,500 square feet of retail space on three sides, providing ac- cess to the office and condominium buildings, the parking deck, Clark Street, and Sherman Avenue. -3- 14-0-79 (d) A four (4) level parking deck approximately 40 feet high with a minimum of 436 spaces (including 1.00 public) and automobile access on Benson Avenue. All of the aforementioned to be contemporary, compat- ible in design, materials and landscaping. to the existing streetscape standards for the adjacent areas, and in conformity to the City's Comprehensive General Plan and to the central business district objectives and policies. 2. Each proposal will be evaluated for demonstrated ability to organize and execute the proposal, as estab- lished by the developer's technical ability, availa- bility of funding for its proposed development and demonstrated record of achievement; and in terms of the economic impact on related and/or competitive bus- iness activity in the central business district and in the City as a whole. 3. The bids.shall contain the following documentation: A set of architectural drawings, including site plan, for the improvements; a ground floor plan, including land- scaping, a second floor plan and a typical floor plan for the office building; building sections, illustrative renderings of the exterior of the improvements consti- tuting the project, the office building entrance and the retail arcade; a general description of all the building systems for the office building and the condominium building; a floor plan of the health club in the condo- minium building and floor plans of the typical condo- minium units; and an architectural model of the improve- ments included in the project prepared, together with a work schedule for plan submission, construction com- mencement, project completion and occupancy. 4. Transfer of title to the property herein described shall be subject to the following terms and conditions: (a) Closing shall be within thirty (30) days of acceptance of the bid, or such other date as shall be mutually agreed, at the office of the City of Evanston or purchaser's lender, as shall be agreed. (b) Five (5) days prior to closing the City shall provide evidence of good title contained in a letter of commitment for an owner's title in- surance policy in the amount of the purchase price showing title in the grantor, subject to standard exception. If the commitment dis- closes 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 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 and deduct from the purchase price the liens or encumbrances of a definite or ascertainable amount. -4- 14-0-79 (c) If the contract is terminated because of purchaser's default, then upon written no- tice all money deposited with such bid shall be paid to the seller'as liquidated damages. If the contract is terminated because of the seller's default, the bid deposit 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 deeds together with this bid notice and pertinent documents shall be deposited therein and the cost thereof shall be equally borne by the pur- chaser and seller. (e) Time will be of the essence and in the event the buyer does not commence construction within two (2) years, plus the period of any delays which result from causes beyond the buyer's control, and complete construction within five (5) years, plus the period of delays which result from causes beyond buyer's • control, after the date of the conveyance of title to the land to the buyer, title to the land will revert to the City of Evanston and the buyer will forfeit to the City, as liqui- dated damages, all payments of each and every nature made to the City to the date of non- conformance of the buyer. The City acknow- ledges that it is willing to subordinate its position to that of the primary lenders. (f) Developer will be required to provide an in- dependent financial guarantee that in the event of default by the developer which causes the title to the land to revert to the City of Evanston pursuant to Section 4e hereof, such improvements as have been completed will, at the option of the City, be demolished. 5. No financing involving the issuance of municipal bonds by the City of Evanston will be acceptable. 6. A covenant running with the land shall be executed stipulating that the property herein developed and the improvements thereto shall not be removed from the tax rolls, the identity or status of subsequent owners and/ or users notwithstanding. Said restrictions may be waived by subsequent action of the Evanston City Council.. • 7. A certified check payable to the City of Evanston in the amount of 10% of the total amount bid shall be submitted with the bid. Immediately upon acceptance of the bid by the City of Evanston, the successful bidder shall de- liver to the City of Evanston a completion bond or other security acceptable to the City to guarantee completion of the proposed development within a reasonable time. -5- 14-0-79 8. All bids and proposals will receive the thoughtful attention and careful consideration of the corporate authorities of the City of Evanston and in the event of nonacceptance the earnest money will be returned to the bidder. 9. The subject property shall remain open and available for municipal use without cost to the City as a park- ing lot until construction commences. 10. At the time of closing the buyer shall pay to the City of Evanston no less than Two Hundred Five Thousand Dollars ($205,000.00) in cash, including credit for the ten percent (10%) earnest money deposited with the bid; with the balance being due to the City of Evanston as follows: (a) The City of Evanston is willing to delay pay- ment until the twenty-fifth (25th) year from the date of sale of the land, interest free, an amount up to a maximum of Six Hundred Thousand Dollars ($600,000.00); (b) The City is willing to offer the balance re- maining (the total consideration for the land, less the required minimum payment of Two Hun- dred Five Thousand Dollars ($205,000.00), and less the amount agreed upon in 10.a. above) in the form of an interest bearing loan, said loan being at a minimum rate of six percent (6%) and for a maximum period of thirty (30) years; (c) If the project is refinanced or sold any loan balance -due the City of Evanston will be due and payable at the date of said refinancing of sale. 11. The developer agrees to provide one hundred (100) park- ing spaces that are available and accessible to the general public for short-term parking use for a minimum period of twenty-five (25) years. The developer agrees that the City must approve the design and operational control including the rates charged for said one hundred (100) spaces. "The City of Evanston hereby solicits bids for the purchase of said real estate. All such bids shall be accompanied by the materials to satisfy the conditions enumerated above, and should be addressed to: Edward A. Martin, City Manager, City of Evanston, Civic Center, 2100 Ridge Avenue, Evanston, Illinois 60201. Such bids should be in writing and filed in the office of the City Manager of the City of Evanston on or before Monday, April 16, 1979 at the hour of 2:00 P.M. All such bids shall be opened at the regular meeting of the City Council of the City of Evanston held on April 16, 1979 at the hour of 9:00 P.M." 10 • • 14-0-79 i SECTION 4: This ordinance shall be in full force and effect from and after its passage, approval, and publication in the manner provided by law. Introduced ),4 , 1979 Adopted '�Ad't'e4 1979 Approved % , 1979 t I d ATTEST: / City Cl er /a it Approved as to form: ,( Co ora ion Counsel `�- `i �I