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PROPOSED SALE OR PURCHASE OF REAL ESTATE
Department(s): Department of Real Estate Management
Other Part(ies): Village of Schaumburg, Illinois and Illinois Department of Transportation
Request: To approve the sale of approximately 1.23 Acres of surplus parcel of land plus two (2), 5-year temporary construction easements.
Description of Real Estate: In the vicinity of 2325 S. Meacham Rd. in Schaumburg, Illinois
Section: 16-00068-00-WR
Parcel(s): 0L50004 & TE-A & B
Fiscal Impact: $665,500.00 Revenue Generating
Accounts:
Summary: Move to authorize the Director of Real Estate Management to enter into a contract for sale of real property with The Village of Schaumburg and in accordance with said contract execute and deliver a quit claim deed to Illinois Department of Transportation (IDOT) for approximately 1.230 acres of a surplus parcel of land located in the vicinity of 2325 S. Meacham Road in Schaumburg as well as grant two (2), 5-year temporary construction easements to IDOT, in the same vicinity of 2325 S. Meacham Rd. in Schaumburg. Approval is recommended.
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