Title/Name/Summary
AN ORDINANCE AUTHORIZING SALE OF VILLAGE PROPERTY (CITGO/7-11 SITE - SOUTHEAST CORNER OF 143RD STREET AND LAGRANGE ROAD)
Body
WHEREAS, the President and Board of Trustees of the Village Orland Park approved the sale of a parcel of Village land in Cook County, Illinois, consisting of approximately 0.383 acres of real estate originally acquired by the Village for right-of-way purposes in order to accomplish intersection improvements at 143rd Street and LaGrange Road with the remainder of said property, after retention by the Village of the necessary right-of-way, no longer necessary or desirable for use by the Village; and
WHEREAS, the Village has, after extensive negotiations, agreed to the sale of said property to Marquette Bank for a purchase price of FOUR HUNDRED NINETY-THOUSAND ONE HUNDRED SEVENTY-FIVE ($490,175.00) DOLLARS; and
WHEREAS, said Marquette Bank will reimburse the Village for the cost of razing/demolishing the building on the property at a cost not to exceed THIRTY-THOUSAND ($30,000.000) DOLLARS;
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees of the Village of Orland Park, Cook and Will Counties, Illinois, as follows:
SECTION 1
The Village President and Village Clerk are hereby authorized and directed to execute, on behalf of the Village, the REAL ESTATE SALES CONTRACT in a form substantially as that attached to this ordinance as Exhibit A. The Village President and Village Clerk are hereby further authorized and directed to execute all appropriate documents and take such other action as is required of them to consummate the sale by the Village of the above-described real estate, in accordance with the terms of the said REAL ESTATE SALES CONTRACT.
SECTION 2
That this Ordinance shall be in full force and effect from and after its adoption and approval as provided by law.