R-840 - 04/08/2003 - TAX - ResolutionsRESOLUTION 2003 -TX- PRPTY -EXP -R -840
A RESOLUTION AUTHORIZING THE SALE
OF SURPLUS PUBLIC REAL ESTATE
(Lots 1 and 2 of the Sports Co reNVestch ester Park Subdivision)
WHEREAS, Section 11 -76 -4 1 of the Illinois Municipal Code (65 ILCS 5/11 -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 and
2 of the Sports Core/Westchester Park Subdivision, and legally described as follows
Lots 1 and 2 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 1,1,
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 and Lot 2 $560,000, 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 /31 st 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.
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
Resolution 2003 -TX- PRPTY- EXP -R- 840
Authorizing the Sale of Surplus Public
Real Estate, Page 2
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, 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 and Lot 2 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 or Lot 2 for less than
the appraised value, and
WHEREAS, on or about March 26, 2003 the corporate authorities have entered into a real estate
sale contract for the sale of Lot 3 in the Sports Core/Westchester Park Subdivision pursuant to a
procedure similar to what is set forth in this ordinance, and
WHEREAS, it is in the best interest of the Village of Oak Brook to offer Lot 1 and Lot 2 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 two lots on the north side of Oak Brook Road /31 st Street between Coolidge Street and
Lincoln Road, legally described as follows
Lots 1 and 2 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 Lpts 1 and 2 in the Sports Core/Westchester Park Subdivision as legally described
above, the proposed sale price shall not be less than $660,000 for Lot 1 and $560,000 for Lot 2 The
offeror 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 must be cash, with no
financing contingencies All sealed offers to enter into z 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, June 25, 2003 The sealed
offer to enter into a real estate sale contract at a proposed purchase price is not legally binding, but the
Resolution 2003 -TX- PRPTY- EXP -R- 840
Authorizing the Sale of Surplus Public
Real Estate, Page 3
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 offeror's package, including a title
commitment, survey and form of real estate sale contract will be available on April 11, 2003 in the office of
the Village Manager Within five (5) business days after notification that it is the offeror submitting the
highest proposed purchase price, said offeror must submit a fully executed real estate sale contract in
substantial conformity with the form of contract in the offeror's package conand 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 offeror 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 8th day of April , 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 NnnP
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U h t t
WORDDOC/RESOLUTIONS /Lots 1 and 2
Village Pre e t,;�_