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TO: Mayor Richard C. Irvin
FROM: Bill Wiet
DATE: November 22, 2017
SUBJECT:
To sell a portion of the City's vacant lot at 10 East Downer Place (PIN #15-22-334-004) to Olive Tree Properties LLC, the purchaser of the adjacent property at 6 East Downer, for use as outdoor seating and room for exterior staircase to lower level of adjacent building.
PURPOSE:
The sale of a portion of the ROW to the Silverplate parcel would allow basement access to the adjacent building creating an opportunity for additional commercial space.
BACKGROUND:
This is City of Aurora Right-of-Way and contains a grassy area adjacent to the Silverplate building which is currently being redeveloped to include an old fashioned ice cream shoppe on the first floor, residential units on the second and third floors, and a speakeasy in the basement.
DISCUSSION:
The estimated project value of the adjacent improvements is $750,000. The sale of a portion of the ROW to Olive Tree Properties LLC would allow basement access to the speakeasy and some outdoor seating space (Exhibit A).
IMPACT STATEMENT:
This sale will allow for additional commercial space and outdoor seating and put the property on the tax roll.
RECOMMENDATIONS:
It is recommended that the Contract for the Purchase and Sale of a Portion of City Owned Real Estate Located at 10 East Downer Place be approved.
cc: Alderman O'Connor, Chairman
Alderman Mesiacos
Alderman Bugg
Alderman Mervine, Alternate
CITY OF AURORA, ILLINOIS
RESOLUTION NO. _________
DATE OF PASSAGE ________________
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A Resolution Approving Contract for the Purchase and Sale of a Portion of City Owned Real Estate Located at 10 East Downer Place, Aurora, Illinois
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WHEREAS, the City of Aurora has a population of more than 25,000 persons and is, therefore, a home rule unit under subsection (a) of Section 6 of Article VII of the Illinois Constitution of 1970; and
WHEREAS, subject to said Section, a home rule unit may exercise any power and perf...
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