HomeMy WebLinkAboutORDINANCE - 2458 - 11/14/1995 - REAL ESTATE SALES CONTRACT/CHGO MAGNETORDINANCE NO. 2458
AN ORDINANCE AUTHORIZING THE VILLAGE PRESIDENT AND VILLAGE CLERK
TO ENTER INTO A REAL ESTATE SALES CONTRACT WITH CHICAGO MAGNET
WIRE CORPORATION FOR THE SALE OF VILLAGE OWNED REAL ESTATE
COMMONLY KNOWN AS WELL SITE #4 LOCATED AT THE REAR OF PROPERTY
DESIGNATED AS 901 CHASE AVENUE, ELK GROVE VILLAGE, ILLINOIS
WHEREAS, the Village of Elk Grove Village is a Home Rule
Municipality as authorized and set forth in the Constitution of the
State of Illinois of 1970; and
WHEREAS, the Village, as a home rule unit, may exercise any power
and perform any function pertaining to its government and affairs
including the power to convey real estate; and
WHEREAS, the President and Board of Trustees of the Village of Elk
Grove Village have adopted an ordinance known as Ordinance No. 1214 on
April 11, 1978, which Ordinance establishes the right of the Village to
convey real estate by contract or negotiated sale, as opposed to the
solicitation of public bids, pursuant to the Village's home rule
authority and as deemed to be in the best interests of the Village; and
WHEREAS, said Ordinance further authorizes the Village Manager to
pursue negotiations with prospective purchasers for property owned by
the Village and for which there is no public need therefore, either now
or in the future; and
WHEREAS, the Village of Elk Grove Village is the owner of
approximately 1,000 square feet of real estate (Well #4) located at the
the rear of the Chicago Magnet Wire parking lot (south of Chase Avenue,
east of Tonne Road), which Well #4 has been Abandoned and for which
there is no current need for use for public purposes nor is there a
reasonable expectation of required use in the future; and
WHEREAS, the Village Manager, pursuant to the authority of
Ordinance No. 1214 has entered into negotiations with prospective
purchasers with respect to the sale of said real estate; and
WHEREAS, the Village Manager is in receipt of an offer to purchase
said property from Chicago Magnet Wire Corporation, for a purchase
price of Five -Thousand ($5,000.00) Dollars, subject to the terms and
conditions therein contained, a copy of which is attached hereto and
incorporated herein, as Exhibit A; and
WHEREAS, the President and Board of Trustees deem it to be in the
best interests of the Village that said offer be accepted and that the
Village convey the above -referenced property, the legal description of
which is contained in said Exhibit A, to Chicago Magnet Wire
Corporation.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of
Trustees of the Village of Elk Grove Village, Counties of Cook and
DuPage, Illinois, in exercise of its Home Rule authority as follows:
Section 1: That the Village President and the Village Clerk
are hereby authorized to execute that sales agreement identified as
Exhibit A attached hereto with Chicago Magnet Wire Corporation, for the
sale by the Village of approximately 1,000 square feet of real estate
(Well #4) located at the rear of Chicago Magnet Wire Corporation
parking lot (south of Chase Avenue, east of Tonne Road), Elk Grove
Village, for a purchase price of Five Thousand ($5,000.00) Dollars.
Section 2: That the Village Manager, and the Village Attorney,
or their designated agent, are hereby authorized to initiate such
proceedings as are required by the conditions of said real estate sales
agreement in order for the Village to fulfill its obligations therein
contained.
Section 3: That this Ordinance shall be in full force and
effect from and after its passage, approval and publication according
to law.
VOTE:
AYES:
6
NAYS:
0 ABSENT: 0
PASSED
this
14th
day of
November 1995
APPROVED
this
14th
day Of
November 1995
Dennis J. Gallitano
Village President
ATTEST:
Patricia S. Smith
Village Clerk
Published this 20th day of November , 1995 in Pamphlet form.
REAL ESTATE CONTRACT
1 . Chicago Magnet Wire Corporation (Purchaser) agrees to purchase at a price
of Five Thousand Dollars ($5,000.00), on the terms set forth herein, the following
described real estate in Cook County, Illinois:
(see attached Exhibit A)
commonly known as Well Site #4 in Elk Grove Village, Illinois.
2. Elk Grove Village (Seller) agrees to sell the real estate and property described
above, at the price and terms set forth herein, and to convey or cause to be conveyed to
Purchaser title thereto by a recordable Quit Claim Deed, subject only to: (a) covenants,
conditions and restrictions of record; and (b) roads and highways, if any.
3. Purchaser agrees to pay the purchase price of Five Thousand Dollars
($5,000.00) at the time of closing, by check, made payable to the order of Seller, or
Seller's designee.
4. Purchaser, at its own expense, may obtain a plat of survey for the described
real estate. In addition, to the extent that Seller reasonably incurs attorneys' fees as a
result of this sale, Purchaser shall indemnify Seller for those attorneys' fees, so long as
those expenses do not exceed $500.00. In addition, Purchaser may, at its own expense,
obtain a commitment for title insurance naming Seller as current owner of the real
property and Purchaser as proposed insured. While Purchaser agrees to pay for the title
insurance, Seller agrees to cooperate with Purchaser and remove any exception to
coverage reasonably required removed by Purchaser.
5. The time of closing shall be November 17, 1995 at the office of Johnson &
Bell, Ltd., 222 North LaSalle Street, Suite 2200, Chicago, IL 60601 or at such time and
place as is acceptable to the parties hereto.
6. There is no broker's commission due any party.
7. There is no earnest money currently being held by any party.
8. Seller warrants that it has received no notices from any city, village or other
governmental authority, of zoning, building, fire or health code violations in respect of the
real estate that have not been heretofore corrected.
9. Except as otherwise described herein, purchaser accepts title to the property
commonly known as Well Site #4 (Parcel 1) in its current condition, as is. Purchaser also
accepts and acknowledges that the conveyance from the Seller reflected in Parcel 2 is
solely a conveyance of the easements previously reserved or enjoyed by the Seller.
10. This contract is subject to the conditions and stipulations as attached hereto,
which conditions and stipulations are made a part of this contract.
11. Time is of the essence of this contract.
12. This contract may be signed in counterparts.
PURCHASER
CHICAGO MAGNET WIRE CORPORATION
BY:
Its Y't 4'7 (rt k ii'. (1 ,(I'' -�
901 Chase Avenue
Elk Grove Village, IL
ATTEST:
Its
Executed this // day of Zlev. , 1995
2
SELLER
ELK GROVE VILLAGE
By: Gary E. Partin
Its Village Manager
By: Dennis J. Gallitano
Its Village President
ATTEST:
Patricia S. Smith
Its Village Clerk
901 Wellington Avenue
Elk Grove Village, IL 60007"-3499
Executed this PIX day of T, 1995.
CONDITIONS AND STIPULATIONS
1. Seller shall furnish Purchaser an affidavit of title in customary form covering
the date of closing and showing title in Seller subject only to exceptions accepted by
Purchaser and unpermitted exceptions or defects in the title disclosed by the survey, if
any, as to which the title insurer commits to extend insurance in the manner specified in
paragraph 2 below.
2. If the title commitment or plat of survey discloses either unpermitted
exceptions or survey matters that render the title unmarketable (herein referred to as
"survey defects"), Seller shall have thirty (30) days from the date of delivery thereof to
have the exceptions removed from the commitment or to correct such survey defects or
to have the title insurer commit to insure against loss or damage that may be occasioned
by such exceptions or survey defects, and, in such event, the time of closing shall be 35
days after delivery of the commitment or the time expressly specific in paragraph 5 on the
front page hereof, whichever is later. If Seller fails to have the exceptions removed or
correct any survey defects, or in the alternative, to obtain the commitment for title
insurance specified above as to such exceptions or survey defects within the specified
time, Purchaser may terminate this contract or may elect, upon notice to Seller within ten
(10) days after the expiration of the 30 -day period, to take title as it then is within the
right to deduct from the purchase price liens or encumbrances of a definite or
ascertainable amount. If Purchaser does not so elect, this contract shall be null and void
without further action of the parties.
3. The provisions of the Uniform Vendor and Purchaser Risk Act of the State
of Illinois shall be applicable to this contract.
4. All notices herein required shall be in writing and shall be served on the
parties at the addresses following their signatures. The mailing of a notice by registered
or certified mail, return receipt requested, shall be sufficient notice.
5. Seller represents that Seller is not a "foreign person" as defined in Section
1445 of the Internal Revenue Code and is therefore exempt from the withholding
requirements of said Section. Seller will furnish Purchaser at closing the Exemption
Certification set forth in said Section.
6. Purchaser and Seller agree that the disclosure requirements of the Illinois
Responsible Property Transfer Act do not apply to the transfer contemplated by this
contract.
END OF CONDITIONS AND STIPULATIONS
2417-4004
Exhibit A
PARCEL 1:
That part of the Southwest Quarter of Section 27, Township 41 North, Range 11, East of the
Third Principal Meridian described as follows: Commencing at a point on the East line of Lot
1 in Magnet Subdivision, being a subdivision in the South West Quarter of said Section 27,
392.70 feet South of the Northeast comer of Lot 1; thence East at right angles to said East line,
25.0 feet; thence South at right angles to the last described line, 40.0 feet; thence West at right
angles to the last described line, 25.0 feet to the East line of Lot 1 aforesaid; thence North along
the East line of Lot 1, 40.0 feet to the place of beginning, in Cook County, Illinois.
Permanent Index No. 08-27-303-007
PARCEL 2:
An easement for ingress and egress over and upon that part of the Southwest Quarter of Section
27, Township 41 North, Range 11, East of the Third Principal Meridian, described as follows:
Commencing at the Northeast corner of said Lot 1 in Magnet Subdivision, thence South along
the East line of said Lot 1, 392.70 feet; thence East at right angles to said East line of Lot 1,
20.0 feet; thence North parallel to the East line of Lot 1, 392.70 feet, to the North line of said
Lot I Extended East, thence West, 20.0 feet to the place of beginning, in Cook County, Illinois.
Permanent Index No. 08-27-303-008
I
E-- r
;H N.'ELSTGN AVENUE
® PLAT OF SURVEY
;HICAGO ld, IL IS
N GREMLEY & BIEDERMANN
THAT PAPT Cr THE SOUT,IWEJT _UARIER OF SECTION 27, TOWN5HIP 41 NORTH, RAN IE II, EAST OF THE
THIRD PRiNCIPLL 11ER101AN, UESCRI:•LD AS FOLD+$; CWfaENCIN, AT A POINT ON TAC EAST LINE OF
LOT I, IN 11A .NET SUBDIVISION, L!LI11.1 A SUPCIVISION IN THE SOUTHWEST QUARTER OF SAID SECTION
27, 392.70 %EET SOUT'i OF THE NORTHEAST CORNER OF LOT I; THENCE EAST AT RI ;HT AN,LES TO SAID
CAST LIRE, 25.0 -ECT; THEW-' SOUTH -T Itf HT ANGLES TO THE LAST OESCRI&EO LINE, 40.0 FEET;
THENCE WEST AT RIOIIT ANGLES TO THE LAST DESCRIUED LINE, 25.0 FEET TO THE EAST LINE OF LOT i
AFORESAID; THENCE NORTH ALON. THE EA'T LINE OF LOT I, 40.0 FEET TO THE PLACE OF ❑EaINNIW;,
/ IN CUOK COUNly, ILLINOIS.
TOGETHER WITH AN F.ASE'IENT FOR IN;RE57 AND E',,RESS OVER A140 UnN THAT PART OF THE SOUTHWEST
CUARTc OF SECTION 27, Tr IIIP LI NORTH, RAN, -,E II, EAST OF THE THIRD PRINCIPAL MERIDIAN,
DESCRIBED AS FOLLCANS; COAIh1Eil[IN1 AT THE NORTHEAST CORNER OF SAID LOT I, IN MAGNET SUBDIVISIO'
THEItCE SCUTA ALONG THE EAST LITE OF SAID LOT 1, 392.70 FEET; THENCE EAST AT RI'. -H7 ANGLES TO
SAID EAST LINE OF LOT I, 20.0 FEET; THENCE NORTH PARALLEL TO THE EAST LINE OF LOT I, jR2.70
FEET, TO THE NORTH LINE OF SAID LOT I E'(TENDED EAST; THENCE WEST, 20.0 FEET TO THE PLACE OF
5E41 NN1K '4W,4SECOUNTY, ILLIOIOI>>. A(iE
L9
stances m marked In feet and Inches.
bar _No 6 A /
.ale: 1 inch
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Stale of Illinois l
County of Cook
We, GREMLEY 6 BIEDERMANN do hereby certify that we have
bested the DWlding on the alba,. psapany.
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State of ""Me l
County, of Cook f ss.
We, GREMLEY 6 BIEDERMAN'
surveyed the above of ... >kop
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