Loading...
HomeMy WebLinkAboutORDINANCES-1972-003-O-72• 3-0-72 b'1 A AN ORDINANCE Authorizing the Sale of Certain Real Estate.. WHEREAS, the corporate authorities of the City of Evanston have determined that in their opinion the real estate hereinafter described is no longer necessary, appropriate, required for the use of, profitable to, or for the best in- terest of the city; and WHEREAS, notice of a proposal to sell the subject real estate was published each week for three successive weeks in a weekly newspaper published in the City of Evanston, to wit, the • Evanston Review; and WHEREAS, the first publication was not less than 60 days before the day provided in the notice for the opening of bids for the real estate; and WHEREAS, the property proposed to be sold is presently utilized for public off-street parking facilities; and WHEREAS, the city proposed to sell said property subject to certain terms and conditions as hereinafter set forth; and WHEREAS, bids for the said property were opened at the regular meeting of the City Council of the City of Evanston held on November 29, 1971 at the hour of 9:00 P.M. in the Municipal Building, 1501 Oak Avenue, Evanston, Illinois; and WHEREAS, the P. & S. Management Co., Inc., an Illinois corporation, submitted a bid in the amount of $462,000; and • • 0113 WHEREAS, the City Council of the City of Evanston has determined that said bid is the highest bid and is the bid in the best interest of the city: NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF EVANSTON, COOK COUNTY, ILLINOIS: SECTION 1: That the bid of P. & S. Manage- ment Co., Inc, an Illinois corporation, in the amount of $462,000 for the purchase of the real estate legally described as - The East 40 feet of Lots 5 and 6 in Block 29, in the City of Evanston in Section 18, Township 41 North, Range 14, East of the Third Principal Meridian, also the West 100 feet of Lots 5 and 6 in Block 29 in the City of Evanston, all in Cook County, Illinois; • Lots 7 and 8 in Block 29 in Evanston in the South West quarter of Section 18, Township 41 North, Range 14, East of the Third Principal Meridian, in Cook County, Illinois; and L� Lots 9 and 10 in Block 29 in Evanston in Section 18, Township 41 North, Range 14, East of the Third Principal Meridian in Cook County, Illinois, commonly known as the Northeast corner of Lake Street and Sherman Avenue, Evanston, Illinois, and presently utilized for public off-street parking facilities, be, and it is hereby accepted and approved. SECTION 2: That the sale of said real estate is hereby directed and the Mayor and the City Clerk are hereby authorized to convey the real estate and transfer it by proper deed of conveyance, subject to the following terms and conditions: - 2- • 1. The real estate shall be developed for a multi -story hotel or motel providing related facilities, including a restaurant, banquet hall and meeting rooms; 2. A minimum of 100 parking spaces shall be provided in the structure to be made available for sale or lease to the City of Evanston for public parking purposes. The length of said lease shall be determined by the City and the owner by negotiation; 3. The hotel or motel proposed shall provide a minimum of 150 rooms; 4. There shall be submitted substantial evi- dence of the financial responsibility of the developer, including the three most recent certified audits of previous hotel or motel operations by the bidder; • 5. There shall be submitted a bid bond or check in the amount of 10% of the bid price together with a completion bond or other security accept- able to the City to guarantee performance of the proposed development; 6. Working drawings of the proposed develop- ment must be submitted within six months after acceptance of the bid and construction must commence twelve months after the approval of working drawings. Said schedule shall be guaran- teed by the completion bond or other security; 7. The subject property will remain open and available for use by the City as a parking lot until construction commences; and upon the payment of the consideration in the manner provided by law. SECTION 3: This ordinance shall be in full force and effect from and after its passage and approval in the manner provided by law. is -3- C] ©2i Introduced q_, 1972 Adopted ,�.,., �, , , 1972 Attest: yam' m_ _ City Clerk Approved Jan1,arU 17 , 1972 .1- F.tlgar `Tannwman, .Tr. Mayor Approved as to form: - Corporation ounsel • • -4-