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PROPOSED NO CASH BID REQUEST
Requestor: Charles E. Tokar, President, Village of Chicago Ridge
Request: Approval of No Cash Bid Request
Location: Village of Chicago Ridge
Volume and Property Index Number:
240, 24-07-307-005-0000; 240, 24-07-307-006-0000; 240, 24-07-307-007-0000
Summary: This letter is to express the Village of Chicago Ridge's interest in receiving a No Cash Bid for parcels located in Chicago Ridge. The permanent index numbers of the parcels requested are: This Request Package contains 3 PINs (the "Subject Property"). The PINs requested currently contain an occupied commercial structure on parcels in the Village of Chicago Ridge. It is the intent of the Village of Chicago Ridge, as part of its overall economic development strategy, to acquire the Subject Property and return it to a beneficial use for the citizens of the Village. The Subject Property is being utilized as a storage facility which is occupied and operated by the owner of the Subject Property. It is located within the Village's Harlem Avenue TIF District and this blighted structure presents a clear obstacle to serious development of the 78 acre neighboring vacant property. The Village hopes to acquire the storage facility, to remove the owner and renters, and demolish it in order to reduce the blight and accommodate possible tollway improvements and potential commercial redevelopment of remaining land.
The Village of Chicago Ridge has retained legal counsel in order to obtain tax deeds and will bear all costs associated with the acquisition of the parcels. In accordance with the requirements of the Cook County No Cash Bid Ordinance, the Village of Chicago Ridge will submit to the Cook County Office of Economic Development a No Cash Bid Report on the status of each parcel for five years or until development is complete whichever comes last. In accordance with the requirements of the Cook County No Cash Bid Program, the Village of Chicago Ridge hereby certifies that ...
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