HomeMy WebLinkAboutRESOLUTIONS-1986-024-R-861
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4/9/86
24-R-86
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A RESOLUTION
f Authorizing the City Manager
to Exercise an Option Agreement
for Purchase of a Certain Portion
} of Lot I of the Banbury Consolidation'
at the.Southwest Corner of Dempster
j Street and Dodge Avenue
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WHEREAS, Banbury Development, Inc., (Banbury) is desirous of
developing a retail shopping development center at the southwest corner of
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Dempster Street and Dodge Avenue; and
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i; WHEREAS, said development will be of mutual benefit to Banbury
and the City of Evanston; and
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�I WHEREAS, said development will generate an unknown increase in
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vehicular traffic over and above that now existing; and
I� WHEREAS, as the center develops and future redevelopment occurs,
�} widening of Dempster Street may be necessary; and
i WHEREAS, in anticipation of said widening, Banbury is desirous of
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setting its building back seven feet (7') over and above Evanston Municipal
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Code requirements, along Dempster Street from Dodge Avenue west approximately
one hundred fifty feet (150'); and
WHEREAS, in the event such widening is necessary, Banbury is j
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further desirous of selling said seven feet (7') to the City of Evanston for
a nominal consideration; and
WHEREAS, said parcel is legally described as: s
The North 7 feet of the Eastern 150 feet of Lot 1 of Banbury
Consolidation being a consolidation of lots and parts of lots and
vacated streets and alleys in Grover and Pitner's Addition to
Evanston being a Subdivision of the Southwest 1/4 of the Northeast 1/4
of the Northwest 1/4 of Section 24, Township 41 North, Range 13; in
Pitner's Third Addition to Evanston being a Subdivision of the
Southeast 1/4 of the Northeast 1/4 of the Northwest 1/4 of Section 24,
Township 41 North, Range 13, also the Chicago and Northwestern Transpor-
tation Company right of way in the Northeast 1/4 of the Northwest 1/4
of said Section 24; together with part of the North 1/2 of the
Northeast 1/4 of the Northwest 1/4 of Section 24, Township 41 North,
Range 13, East of the Third Principal Meridian, also provided for a
certain street dedication, in Cook County, Illinois.
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24-R-86
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NOW, THEREFORE, 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 sign and the City Clerk is -hereby authorized and
directed to attest on behalf of the City of Evanston an option to purchase
agreement by and between.the City of Evanston, as Purchaser,'and Banbury
Development, Inc., as Seller for a portion of certain property heretofore
described. Said option agreement shall be in substantial conformance with
the proposed Memorandum of Real Estate Option attached hereto as Exhibit A.
SECTION 2: That the City Manager is hereby authorized and directed
to negotiate any additional terms and conditions on
the option agreement as may be determined to be in the best interests of the
City.
SECTION 3: This Resolution shall be in full force and effect from
and after its passage, approval and publication in the
manner provided by law.
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ATTEST:
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A-e
City Clerk
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Adopted: 1986
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Mayor
iMEMORANDUM OF REAL ESTATE OPTION
Memorandum of irrevocable real estate option, dated April
, 1986.
1. The Grantor of this option is LaSalle National Bank as
Trustee under Trust Agreement dated June 17, 1985 known as Trust
#109877, 120 South LaSalle Street, Chicago, Illinois 60602. This
option binds all persons claiming under Grantor with actual or
record notice hereof.
2. The Grantee of this option is the City of Evanston,
whose address for notice purposes is to be directed to the City
Manager, City of Evanston, Civic Center, 2100 Ridge, Evanston, IL
60204, and its successors in interest.
• 3. The subject premises bound hereby are situated in -Cook
County, Illinois and are described on Exhibit A attached hereto..
4. This option expires at noon, official time, the day
of , 2085, 99 years from today's date, and may in no
event be extended beyond the day of , 2085.
5. Mode of exercise: Sixty (60) days' written notice, in
any form, signed by Grantee, sent by first class or registered or
certified U.S. mail with or without return receipt requested as
preferred by the party exercising, delivered at the address given
above. Alternatively, notice may be delivered to the Grantor
personally.
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6. .This instrument is executed for the purpose of being
filed for record and giving notice of the existence•of said option .
agreement.
7. The valuable consideration of $1.00 has been given for
the granting of the option hereby evidenced, and is otherwise
acknowledged.
8. The parties hereto expressly agree that upon notice as
specified herein, the Grantor will sell in fee simple by quit
claim deed the subject parcel described above in paragraph 3, or
as much thereof as the Grantor may request.
,. 9. The parties further agree that notwithstanding any
change in value by inflation or deflation over..the 99-year.term"of
this option of either the main parcel from which the subject
parcel is to be taken or of the subject parcel, that a fair and
reasonable purchase price is the sum of $1.00 U.S. currency.
10. Upon the purchase of the subject parcel, and the
construction of any improvement thereon, the Grantee•expressly
covenants to repair and restore said main parcel, at its own
expense, as needed, to its original condition prior to the sale,
to the reasonable satisfaction of the Grantor and to do so within
a reasonable time after the sale or as otherwise agreed.
11. The Grantor hereby covenants to exercise this option if
at all, only in one transaction, said transaction to include only
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so much of the subject parcel as is required for improvement of
the roadway and traffic flow at the intersection of Dodge and
Dempster Streets, City of Evanston, State of Illinois.
Signed and sealed the date above given.
Attest:
Asst. Secretary
Attest:
Ci y Al
Clerk
STATE OF ILLINOIS )
) SS
COUNTY OF COOK )
GRANTOR:
LASALLE NATIONAL BANK, as
Trustee Under Trust Agreement
dated June 17, 1985 known as
Trust #109877,
By
GRANTEE:
CITY OF EVANSTON
By q�4j"
Joel M.rooth,
City Manager
I, the undersigned, a Notary Public, in and for the county
and State aforesaid, DO HEREBY CERTIFY, that Joel Asprooth
personally known to me to be the City Manager of the City of
Evanston and Kirsten Davis personally known to me to be the City
Clerk of the City of Evanston, and personally known to me to be
the same persons whose names are subscribed to the foregoing
instrument, appeared before me this day in person and severally
acknowledged that as such City Manager and City Clerk, they signed
and delivered the said instrument and caused the corporate seal of
said city to be affixed thereto, pursuant to authority given by
the City Council of the City of Evanston, as their free and �=
voluntary act, and as the free and voluntary act and deed of said
city for the uses and purposes therein set forth: ,':k
even under my hand and official.seal, this ,�Iday,of
1986.
Notary Pu:Diic
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N .
STATE OF ILLINOIS )
SS
COUNTY OF COOK )
I, the undersigned, a Notary Public, in and for the county
and State aforesaid, DO HEREBY CERTIFY, that
'personally known to me to be the Vice President and
, personally known to me to be an Assistant Secretary
of LaSalle National Bank and personally known to me to be the same.
persons whose names are subscribed to the foregoing instrument,
appeared before me this day in person and severally acknowledged
that as such Vice President and Asst. Secretary, they signed and
delivered the said instrument and caused the corporate seal of
said corporation to be affixed thereto, pursuant to authority
given by the LaSalle National Bank,as their free and voluntary
act, and as the free and voluntary act and deed of said Bank for
the uses and purposes therein set forth.
Given under my hand and official seal, this day of
1986.
Notary Public
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This instrument was prepared by Ellen Szymanski, Assistant
Corporation Counsel, City of Evanston, 2100 Ridge, Evanston, IL
60204. 866-2937
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THE NORTH 7 FEET OF THE EASTERN 150 FEET OF LOT 1 OF BANBURY
CONSOLIDATION BEING A CONSOLIDATION OF LOTS AND PARTS OF LOTS AND
VACATED STREETS AND ALLEYS IN GROVER AND PITNER'S ADDITION TO
EVANSTON BEING A SUBDIVISION OF THE SOUTHWEST 1/4 OF THE NORTHEAST
1/4 OF THE NORTHWEST 1/4 OF SECTION 24, TOWNSHIP 41 NORTH, RANGE
13; IN PITNER'S THIRD ADDITION TO EVANSTON BEING A SUBDIVISION OF
THE SOUTHEAST 1/4 OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF
SECTION 24, TOWNSHIP 41 NORTH, RANGE 13; ALSO THE CHICAGO AND
NORTHWESTERN TRANSPORTATION COMPANY RIGHT OF WAY IN THE NORTHEAST*
1/4 OF THE NORTHWEST 1/4 OF SAID SECTION 24; TOGETHER WITH PART OF
THE NORTH 1/2 OF THE NORTHEAST 1/4 OF THE NORTHWEST 1/4 OF SECTION
24, TOWNSHIP 41 NORTH, RANGE 13, EAST OF THE THIRD PRINCIPAL
MERIDIAN, ALSO PROVIDING FOR A CERTAIN STREET DEDICATION, IN COOK
COUNTY, ILLINOIS.
Exhibit "A"
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