cover
TO: The Honorable Mayor and City Council
FROM: Law Department
DATE: November 1, 2019
SUBJECT:
A resolution authorizing the sale of real property owned by the City commonly known as 594-596 Fifth Ave, Aurora, Illinois to Trinidad Cervantes and Jose Carlos Saucedo.
PURPOSE:
To authorize the sale of real property owned by the City.
BACKGROUND:
In May 2018, Trinidad Cervantes approached the City with an offer to purchase real property located at 594-596 Fifth Ave for $81,000.00. Ms. Cervantes's offer is consistent with the results of an appraisal conducted by C.A. Bruckner & Associates, LLC for the City in the fall of 2017. The property includes a single-story 1,728 sq. ft. wooden building on a 14,237 sq. ft. lot with two half baths and a small kitchenette and most recently housed an early childhood education center. The City also owns a 7,936 sq. ft. parking lot adjacent to the west side of the building, which it is not selling as part of this proposed transaction. In June 2018, the Law Department received direction to pursue the sale, which resulted in the development of the proposed contract attached to the resolution.
When this item was previously before the Committee of the Whole in January 2019, the Committee requested that the property be subdivided in advance of any sale so that it was clear that the City was not selling the parking lot adjacent to the building's west side. For this reason, the item was held at the Committee of the Whole so that the subdivision process could be completed. The subdivision was authorized by the Council in April and the City received the recorded plats of surveys reflecting the subdivision in late June. The purchaser will be acquiring what is now designated as Lot 2 in the Cervantes Subdivision while the City will remain the owner of Lot 1.
DISCUSSION:
Section 2-344 of the Code of the City of Aurora provides that the City Council may sell real property owned by the City by resolution. The price Ms. Cervantes ...
Click here for full text