R-828 - 01/28/2003 - TAX - ResolutionsRESOLUTION 2003 -TX- PRPTY -EXP -R -828
A RESOLUTION AUTHORIZING THE SALE
OF SURPLUS PUBLIC REAL ESTATE
(Lots 1, 2 and-3 of the Sports Core/Westchester Park Subdivision)
WHEREAS, Section 11 -76 -4 1 of the Illinois Municipal Code (65 ILCS 5111 -76 -4 1) provides that
the corporate authorities of a municipality may, by resolution, authorize the sale of surplus public real
estate and further provides that the value of the real estate shall be determined by a written certified
appraisal or other appraisal as set forth in the statute, and
WHEREAS, that the following question of public policy was placed on the ballot at the November
3, 1998 general election
"Shall the Village of Oak Brook be authorized to sell not more than three (3) acres of
vacant real estate fronting on Coolidge Street and Lincoln Road in the Westchester Park
Resubdivision north of Oak Brook Road (31St Street) and west of York Road in the Village
of Oak Brook for single - family residential use, the proceeds of the sale to be used for
making capital improvements at the Oak Brook Golf Club ? ", and
WHEREAS, a majority of the electors of the Village voting at' the November 3, 1998 election on
the foregoing question voted in favor of the foregoing question of public policy, and
WHEREAS, the President and Board of Trustees of the Village of Oak Brook find that Lots 1, 2
and 3 of the Sports Core/Westchester Park Subdivision, comprising less than three acres (i e ,
approximately 2 7761 acres), and legally described as follows
Lots 1, 2 and 3 in Sports Core/Westchester Park Subdivision, being a resubdivision'of
part of the East Half of the Southwest Quarter of Section 25, Township 39 North, Range
11, East of the Third Principal Meridian, according to the plat thereof recorded November
6, 2002 as Document No R- 2002 - 302921 in DuPage County, Illinois
Permanent Parcel (Part) No 06 -25- 302 -042
now owned by the Village is not required for the use of the Village of Oak Brook and is hereby declared
surplus public real estate, and
WHEREAS, the Village has obtained a written appraisal by Paul V Davis, an Illinois certified
general appraiser of the Collins /Davis Appraisal Group, who as of September 4, 2002, appraised the
subject property as follows Lot 1 $660,000, Lot 2 $560,000, and Lot 3 $550,000, and
WHEREAS, these lots may be further described as follows
Lot 1 is a vacant lot located on the east side of Lincoln Road approximately 255 feet north
of Oak Brook Road /31St Street It is an irregularly shaped lot with 100 feet of frontage on
Lincoln Road and contains approximately 41,537 square feet (0 9536 acre) This lot is
located in the R -3 Single - Family Residential District and is fully improved with sewer and
water
Resolution 2003 -TX- PRPTY- EXP -R- 828
Authorizing the Sale of Surplus Public
Real Estate, Page 2
Lot 2 is a vacant lot located on the east side of Lincoln Road approximately 200 feet north
of Oak Brook Road /31st Street It is an irregularly shaped lot with 45 feet of frontage on
Lincoln Road and contains approximately 38,700 square feet (0 8884 acre) This lot is
located in the R -3 Single - Family Residential District and is fully improved with sewer and
water
Lot 3 is a vacant lot located on the west side of Coolidge Street approximately 80 feet
north of Oak Brook Road /31st Street it is an irregularly shaped lot with approximately 163
feet of frontage on Coolidge Street and contains approximately 40,691 square feet
(0 9341 acre) This lot is located in the R -3 Single- Family Residential District and is fully
improved with sewer and water, and
WHEREAS, the appraisal by Paul V Davis is available in the office of the Village Clerk for public
inspection, and
WHEREAS, the Village is desirous of selling Lot 1, Lot 2 and Lot 3 as separate lots, and
WHEREAS, Section 11 -76 -4 1 of the Illinois Municipal Code provides that the corporate
authorities may accept any contract proposal for purchase of one or more of the lots as determined by
them to be in the best interest of the municipality by a vote of two - thirds of the corporate authorities then
holding office, but in no event at a price less than 80% of the appraised value, and
WHEREAS, the corporate authorities find that they do not wish to sell Lot 1, Lot 2 or Lot 3 for less
than the appraised value, and
WHEREAS, it is in the best interest of the Village of Oak Brook to offer the above described lots
for sale as indicated above
NOW, THEREFORE, BE IT RESOLVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF OAK BROOK, DU PAGE AND COOK COUNTIES, ILLINOIS as follows
Section 1 That the corporate authorities find as fact the recitals hereinabove set forth
Section 2 That the Village Clerk is authorized and directed to publish this resolution at the first
opportunity following its passage in a newspaper published in the County of DuPage
Section 3 That the corporate authorities hereby authorize the sale of the surplus public real
estate comprised of three lots on the north side of Oak Brook Road /31St Street between Coolidge Street
and Lincoln Road, legally described as follows
Lots 1, 2 and 3 in Sports Core/Westchester Park Subdivision, being a resubdivision of
part of the East Half of the Southwest Quarter of Section 25, Township 39 North, Range
11, East of the Third Principal Meridian, according to the plat thereof recorded November
6, 2002 as Document No R- 2002 - 302921 in DuPage County, Illinois
Permanent Parcel (Part) No 06 -25- 302 -042
Section 4 That the corporate authorities hereby authorize and direct the staff to solicit written,
sealed offers to enter into a real estate sale contract at a proposed sale price with the Village for;the
purchase of each of Lots 1, 2 and 3 in the Sports Core/Westchester Park Subdivision as legally described
above, the proposed sale price shall not be less than $650,000 for Lot 1, $560,000 for Lot 2, and
$550,000 for Lot 3 The offeree with the highest proposed purchase price will have the first opportunity to
enter into a real estate sale contract with the Village for purchase of the applicable lot Each lot will be
sold separately All real estate sale contracts are subject to the approval of the Village Board All offers
Resolution 2003 -TX- PRPTY- EXP -R- 828
Authorizing the Sale of Surplus Public
Real Estate, Page 3
must be cash, with no financing contingencies All sealed offers to enter into a real estate contract setting
forth the proposed price must be received in care of the Village Manager, at the office of the Village
Manager, 1200 Oak Brook Road, Oak Brook, IL 60523, not later than 5 00 p m on Wednesday,1 March
12, 2003 The sealed offer to enter into a real estate sale contract at a proposed purchase price is not
legally binding, but the proposed purchase price in the sealed offer will determine the order in which the
Village will consider the offer to enter into a real estate contract for sale of the applicable lot An offeree's
package, including a title commitment, survey and form of real estate sale contract will be available on
February 5, 2003 in the office of the Village Manager Within five (5) business days after notification that it
is the offeree submitting the highest proposed purchase price, said offeree must submit a fully executed
real estate sale contract and a certified or cashier's check in the amount of $50,000 in earnest money to
the Village Manager for approval by the Village Board No interest shall be paid on the earnest money
This offeree must be ready to close on the purchase of the lot or lots within fifteen (15) business days of
notification that the Village Board has approved the contract(s) The Village will pay a 2 5% commission to
participating real estate brokers Questions about the sale of these lots should be directed to Margaret
Rimbo, telephone number 630 - 990 -5731
Section 5 That the corporate authorities by a two - thirds vote may accept any offer embodied in a
real estate sale contract which is determined by them to meet the appraised value of the applicable lot and
to be in the best interest of the Village The corporate authorities reserve the right to reject any and all
offers
Section 6 That this resolution shall be in full force and effect from and after its passage and
publication as provided by law
PASSED AND APPROVED this 28th day of January, 2003 by the President and Board of
Trustees of the Village of Oak Brook, DuPage and Cook Counties, Illinois, according to a roll call vote as
follows
Ayes Trustees Aktipis, Caleel, Craig, Korin, Miologos and Savino
Nays None
Absent None
Abstain None
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