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PROPOSED SALE OR PURCHASE OF REAL ESTATE
Department(s): Department of Planning and Development
Other Part(ies): Social Service Agency that assists with shelter, or a qualified low income individual
Request: Approval of sale/donation of Condominium at 13705 Steward Ave #3, Riverdale, Illinois
Description of Real Estate: The property is a 2 bedroom condominium in the Riverwoods Complex
Section: N/A
Parcel(s): 25-33-316-012-1030
Fiscal Impact: None
Accounts: 753-0901 NSP 1
Summary: Transmitted herewith is a request for the transfer of one condominium purchased by Cook County under the auspices of the Neighborhood Stabilization Program (NSP) to eligible and qualified buyer for project completion.
This property was initially purchased prior to 12/1/2010 by Cook County through the Department of Planning and Development in accordance with a 1/12/2010 Board approved initiative that permitted the purchase and redevelopment of NSP eligible vacant, abandoned and foreclosed homes throughout suburban Cook County. In accordance with said approval, Cook County acquired 13705 Stewart Ave #3 in Riverdale, Illinois, which was formerly real estate owned (REO) property.
To date the Department of Planning and Development has been unable to sell this property and in order to close out the NSP grant, authority is hereby requested to transfer this property to a Social Service Agency that assists with shelter or a not-for-profit entity that assists with shelter or home ownership.
I respectfully request approval to transfer this property to Social Service Agency or not-for-profit that assists with shelter or home ownership and that the Bureau Chief of Economic Development or his/her designee be authorized to execute, on behalf of the County of Cook, any and all documents necessary to further the project approved herein, including but not limited to, funding agreements, intergovernmental agreements, amendments and modifications there to, loan docu...
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