Loading...
O-84-03ORDINANCE NO. 0 -84 -03 AN ORDINANCE PROVIDING FOR AN OPTION AGREEMENT FOR THE SALE OF SURPLUS MUNICIPAL REAL ESTATE OWNED BY THE VILLAGE OF DEERFIELD, LAKE-AND COOK COUNTIES, ILLINOIS WHEREAS, the Corporate Authorities of the Village of Deerfield, a Home Rule municipality, in the exercise of Home Rule power as set forth in Article VII of the Constitution of Illinois of 1970 have deemed it advisable and necessary for the welfare of the residents of the Village of Deerfield, Lake and Cook Counties, Illinois, to sell certain surplus property presently owned by the Village; and WHEREAS, the Corporate Authorities of the Village of Deerfield have declared the development and redevelopment of that part of the Village commonly known as "South of the Commons" to be a desirable and suitable municipal goal and deem the real estate legally des- cribed in the Option Agreement attached hereto and made a part here- of, as Exhibit A and referred to therein as the "Subject Property" suitable and desirable for such municipal purposes and have nego- tiated with the purchaser an Option Agreement for the sale of said real estate in form and substance the same as that marked Exhibit A and which Agreement provides for the conveyance of certain real estate presently owned by the Village legally described in Exhibit A: and WHEREAS, pursuant to the provisions of the Illinois Municipal Code, as amended, and in the exercise of the aforesaid Home Rule powers it is required that the President and Board of Trustees of this Village adopt an ordinance providing for the sale of the Subject Property. NOW, THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE VILLAGE OF DEERFIELD, LAKE AND COOK COUNTIES, ILLINOIS, AS FOLLOWS: SECTION That it is hereby determined to be advisable, necessary ONE: and in the best interest of the Village of Deerfield that the Subject Property referred to in the Option Agreement legally described on attached Exhibit A, be sold in accor- dance with and pursuant to the terms and conditions of the Option Agreement which agreement is hereby approved. J i SECTION That from and after the effective date of this TWO: ordinance the President and Clerk of the Village of Deerfield. Lake and Cook Counties, Illinois, be and are hereby authorized and directed to execute the Option Agreement herein provided for, and to do all things necessary and essential, including the execution of any documents and certificates necessary to carry out the provisions of this Option Agreement. SECTION This Ordinance shall be in full force and effect upon THREE: its passage and approval in accordance with law. AYES: Marovitz, Marty,'Seidman, Swanson, York (5) WAYS: None (0) ABSENT: Jackson (1) PASSED this 16thday of January A.D.. 1983. APPROVED this 16th day of January A.D. , 1983. V.ILGE PRESENT �y, ��— ATTEST: VILLAGE CL RK W .t r EXHIBIT A Mat part of Lot 5 in Philenan Cadwell's addition to the original Town of Deerfield,. in the North 1/2 of the North West 1/4 of Section 33, ZUwnship `? 43 North, Range 12, East of the Third Principal Meridian,.according to the plat thereof recorded December 1, 1863 an Book 35 of Deeds; Page 219 described as follows: commencing on the North line of. Osterman Avenue in the Villaqe of Deerfield, 171.75 feet West of the South West Corner'. of Lot 1 in Block 1 in Hall and Ostenrian's addition'to the Town of Deerfield, according to the plat thereof recorded Jame 2, 1874, in Book "A" of Plats, Page 16, and running thence West 101.01 feet; thence North 175 r' feet; thence Northeasterly to a point 185 feet 11 inches due North of the point of beginning; and thence South 185 feet-il inches to•the point.of beginning, in Lake County, Illinois. 1.4 IMF- j .. AN OPTION AGREEMENT FOR THE PURCHASE OF REAL ESTATE COMMONLY KNOWN AS 710 -714 OSTERMAN AVENUE IN THE VILLAGE OF DEERFIELD, ILLINOIS THIS OPTION AGREEMENT, dated this 1U day of , 19&, by and between the President and Board of Trus ees of the Vil- lage of Deerfield (hereinafter referred to as the "Village ") and Dr. Frank E. Seifried, of 747 Deerfield Road, Deerfield, Illinois; W I T N E S S E T H: WHEREAS, the Village owns certain residentially developed real estate commonly known as 710 -714 Osterman Avenue, in the Village of Deerfield, Illinois; and WHEREAS, the Village has determined that said property is no longer necessary, desirable or useful for municipal purposes, and the same is therefore.surplus property and available for sale; and WHEREAS, Dr. Seifried desires to acquire property within the Village of Deerfield for the purpose of erecting a medical and dental professional building to be known as the "Deerfield Medical and Dental Professional Building "; and WHEREAS, the property 710 =714 Osterman Avenue is presently zoned for commercial uses and is suitable for medical and dental professional building purposes; and WHEREAS, Dr. Seifried is intercalt-eu in obtaining an option to purchase the subject Osterman Avenue property from the Village at a price and pursuant to the terms hereinafter set forth. i NOW, THEREFORE, upon the above mentioned considerations and for other good and valuable consideration as hereinafter set forth, f0 the parties hereto agree as follows: 0 I. The Village hereby grants to Dr. Frank E. Seifried an option to purchase on the terms and conditions contained in a cer- tain Real Estate Sale Contract, a copy of which is attached hereto as Exhibit A (the "Contract ") the real estate described therein and commonly known as 710 -714 Osterman Avenue, Deerfield, Illinois. 2. Dr. Seifried shall pay to the Village for said option the sum of $5,000.00, which amount shall be applied to the purchase price set forth in the Contract if the option is exercised during the term set forth herein; and otherwise said amount shall be forfeited in the event the option is not so exercised. . 3. The term of the option shall be for a period of three (3) months from the date of this Option Agreement and shall expire on 12:01 A.M. on the day of , 1984. unless sooner exercised. 4. The option to purchase, if exercised, shall be accomplished by Dr. Seifried dating and executing the attached Contract and delivering it to the office of the Village Clerk, Village Hall, 850 Waukegan Road, Deerfield, Illinois 60015, together with the required earnest money deposit, at any time prior to the expiration of the three (3) month term hereof, whereupon the Village shall become obli- gated to perform the duties and obligations of the Seller under the contract. 5. The conveyance of the subject real estate pursuant to exercise of the option provided herein shall be subject to compliance -2- a . j {� by the Village with statutory and local ordinance or code pro - cedures governing the sale of real estate by a home -rule muni- cipality. IN WITNESS WHEREOF, the parties hereto have executed this Option Agreement on the day and year first above written. VILLAGE OF DEERFIELD, ILLINOIS By Village President ATTEST: Vil age le k Frank E. eifr ed, D.D.S. -3- J e" CHICAGO TIT) INsVRANCE COMPANY . ILLIN015 FORM A• ?y Real Estate sale Contract L, (Purchaser) agrees to purchase at a price of $ 175,000.00 — _ on the terms set forth herein, the following described real estate in Deerfield. _Lak e County, Illinois: "See Attached Rider for Legal Description" (!f kral description is not included herein at tima of execution, is aatllorired to insert it thereafter.) commonly known as 710-714 O- gtPrman aupntiP , Mzprf i A l ri T I I ilaoi s and with approximate lot dimensions of 101,%175 x 10 0X18 5 , together with the following personal property presently located thereon: (strike items not applicable) (a) storm and screen doors and windows; (b) awnings; (c) outdoor television antenna; (d) wall -to -wall, hallway and stair carpeting; (e) window shades and draperies and supporting fixtures; (f) venetian blinds; (g) electric, plumbing and other attached fixtures as installed; (h) water softener; W refrigerator(s); 0) range(s)AjY& w all of said property to be sold in an "as is" condition. 2. _ Village of Deerfield., a municipal orlpora inn, (seller) (Insert names of all owners and their respective spouses) agrees to sell the real estate and the property, if any, described above at the price and terms set forth herein, and to convey or cause to be conveyed to Purchaser or nominee title thereto (in joint tenancy) by a recordable Warranty deed, with release of homestead rights, and a proper bill of sale, subject only to: (a) covenants, conditions and restrictions of record; (b) private, public and utility easements and roads and highways, if any; (c) party wall rights and agreements, if any; - (.0 any unconfirmed special tax or assessment; b b4afe eenipleted; i.h) mortgage or trust deed specified below, if any; (i) general taxes for the year 1 9 R 4 and subsequent years including taxes which may accrue by reason of new or additional improvements during the year(s) ; and to 3. Purchaser has paid E _ n 0 tl n (and tenders herewith the additional sum of 12 ', S n n _ n p ) as earnest money to be applied on the purchase price, and agrees to pay or satisfy the balance of the purchase price, plus or minus prorations, at the time of closing as follows: (strike subparagraph not applicable) (a) The payment of S 157,500.00 leS 4. S. The time of closing hall be 15 days frrxn the eXlstl�l aSe Acxr tS g. termination of the i"64MMor on the date, if any, to which such time is extended by reason of paragraph 2 of the Conditions and Stipulations hereafter becoming operative (whichever date is later). unless subsequently mutually agreed otherwise, at the office of Spl 1 pr I S attnrneU or of the mortgage lender, if any, provided title is shown to be good or is accepted by Purchaser. 6. Seller shall deliver possession to Purchaser on the day the sale has been closed. SAW 'Peg- $ C 6 .i . ia�iYi�i.lti�ri5fiicirli� 7. Seller Warrants that no broker's c m ni SS1 nn i c due kd th recTard to this t^ontraCt 8. The earnest money shall be held by Pedersen & Houpt , 180 N. LaSalle St. . Chicago. IL 60 601 for the mutual benefit of the parties. 9. Seller agrees to deliver possession of the real estate in the same condition as it is at the date of this contract, ordinary wear and tear excepted. the lei 11 d his spti ase, if ally, Iltsil be delivele! te Hitptifefra9en,rit+ i+., - _ ysl}- beeeme—rr till attie tuth, �trrtfnrser. This contract is subject to the Conditions and Stipulations set forth on the back page hereof, which Conditions and Stipulations are made a part of this contract. Dated 6 Purchaser`^ - C (Address) Purchaser. (Address) Seller (Address', 850 WaukPgan Rnad, T)PPrf i p1 d _ [' 1. Seller shall deliver or cause to be delivered tc P mount urchaser nr Purchaser's agent, not less than 5 days pturchase or to the time cti: �lo�ng, a title commitment for an owner's title insurance policy issued by the 4 --cago Title Insurance Company in the a of the price, covering title to the real estate on or after the date hereof, sh +pig -i'le i- the intended grantor subject only to (a) the general exceptions contained in the policy unless the contract price is $100,000.00 or less and tl real estate is improved with a single family dwelling or an apartment building of four or fewer residentizl units, (b) the title exceptions set forth above, and (c) title exceptions pertaining to liens or encumbrances of a definite or ascertainable amount which may be removed by the payment of money at the time of closing and whic`t the Seller may so remove at that time by using the funds to be paid upon the delivery of the deed (all of which are herein referred to as the permitted exceptions). The title commitment shall be conclusive evidence of good title as therein shown as to all matters insured by the policy, subject only to the exceptions as therein stated. Seller also shall furnish Purchaser an affidavit of title in customary form covering the date of closing and shawing title in Seller subject only to the permitted exceptions in foregoing items (b) and (c) and unpermitted exceptions, if any. as to which the title insurer commits to extend insurance in the manner specified in paragraph 2 below. 2. If the title. ttonmtiftent discloses unpermitted exceptions, Seller shall have 30 days from the date of delivery thereof to have the exceptions removed from the cort adti -a nt or to have the title insurer commit to insure against loss or damage that may be occasioned by such exceptions, and, .in such event, the time of closing shall be 35 days after delivery of the commitment or the time specified in paragraph 5 on the front page hereof, whichever is later. If Seller fails to have the exceptions removed, or in the alternative, to obtain the commitment for title insurance specified above as to such exceptions within the specified time, Purchaser may terminate this contract or may.elect,.upon notice to Seller within 10 days after the expiration of the 30-day period, to take title as it then is with 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 become null and void without further actions of the parties. 3.' Rents, ,premiums under assignable insurance policies, water and other utility charges, fuels, prepaid service contracts, general taxes, accrued interest on mortgage indebtedness, if any, and other similar items shall be adjusted ratably as of the time of closing. If the amount of the current general taxes is not Shen asceminable, the adjustment thereof shall be on the basis of the amount of the most recent ascertainable taxes. The amount of any general taxes which rttayaccrue by reason of new or additional improvements sl•. be adjusted on the basis of All proirribns are final unless otherwise provided herein. Existing leases and assignable insurance policies, if any, shall then be assigned to Purchaser. Seller shall pays die amount of any stamp tax imposed by State law on the transfer of the title, and shall furnish a completed Real Estate Transfer Declaration signed Vgy the Seller or the Seller's agent in the form required pursuant to the Real Estate Transfer Tax Act of the State of Illinois and shall furnish any declaration: signed by the Seller or the Seller's agent or meet other requirements as established by any local ordinance with regard to a transfer or transaction tax; such tax required by local ordinance shall be paid by the Purchaser. -;,4. The provisions of the Uniform Vendor and Purchaser Risk Act of the State of Illinois shall be applicable to this contract. 5:' If this-contract is terminated without Purchaser's fault, the earnest money shall be returned to the Purchaser, but if the termination is caused by.the Prurchaser's fault, then at the option of the Seller and upon notice to the Purchaser, the earnest money shall be forfeited to the Seller and applied first to . zhe payment of Seller's expenses and then to pa ment of broker's commission; the balance, if any, to be retained b the Seller s H td led dam es. It z _.filer defaults, the option anti earnest money at the option of the purc� laser s�a�i e refunds to "­'Purchaser but such refunding shall not result in a waiver by Purchaser of its right to seek any o r,1 1 or t,'t le remedies. Purchaser acknowledges that Seller is presently leasing the subject real estate, and accordingly Seller shall have 60 days from the date of this Contract to terminate said Lease Agreements and Seller agrees to use its best 7. Tixn,eii of the essence of this contract. 8. Ad 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 registeim-6 mr certified mail, return receipt requested, shall be sufficient service. 9. Purchaser and Seller hereby agree to make all disclosures and do all things necessary to comply with the applicable provisions of the Real Estate Settlement Procedures Act of 1974. In the event that either party shall fail to make appropriate disclosure when asked, such failure shall be considered a breach on the part of said party. 10. If no written leases are in existence, Seller shall make a written representation as W. ;h- staL,tl5 of tr:>e -rental a ra g:ments with. -parties. o rrently occi.pviiicr the premises. " Ifforts to accomplish the terTaination at an earlier date. Purchaser shall have the option in the *-'Vent leases are not cancelled to take subject to the leases and perform the contract or to dcc].al;e the contract null and void with all options and earnest money returned to the Purchaser. '72 R. 6/76 RIDER TO REAL ESTATE SALE CONTRACT That part of Lot 5 in-Phileman Cadwell's Addition to the Original Town of Deerfield in the North half of the North West quarter of Section 33, Township 43 North, Range 12, East of the 3rd P. M., according to the plat thereof, recorded December 1, 1863, in Book 35 of Deeds, page 219, described as follows: Commencing on the North line of Osterman Avenue, in the Village of Deerfield, 171.75 feet West of,the South tVest corner of Lot 1, in Block 1, in Hall and Osterman's Addition to the Town of Deerfield, according to the plat thereof, recorded June 2, 1974, in Book "A" of Plats, page 16, and running thence West 101.01 feet; thence North 175 feet; thence North Easterly to a point 185 feet 11 inches due North of the place of beginning, and thence South 185 feet 11 inches to the place of beginning, situate, in Lake Coutny, Illinois. S • RIDER TO REAL ESTATE SALE CONTRACT That part of Lot 5 in-Phileman Cadwell's Addition to the Original Town of Deerfield in the North half of the North West quarter of Section 33, Township 43 North, Range 12, East of the 3rd P. M., according to the plat thereof, recorded December 1, 1863, in Book 35 of Deeds, page 219, described as follows: Commencing on the North line of Osterman Avenue, in the Village of Deerfield, 171.75 feet West of,the South tVest corner of Lot 1, in Block 1, in Hall and Osterman's Addition to the Town of Deerfield, according to the plat thereof, recorded June 2, 1974, in Book "A" of Plats, page 16, and running thence West 101.01 feet; thence North 175 feet; thence North Easterly to a point 185 feet 11 inches due North of the place of beginning, and thence South 185 feet 11 inches to the place of beginning, situate, in Lake Coutny, Illinois.