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PROPOSED NO CASH BID REQUEST
Requestor: Mary Werner, President, Village of Worth
Request: Approval of No Cash Bid Request
Location: Village of Worth
Volume and Property Index Number:
246, 24-19-100-021-0000
Summary: On behalf of the Village, please find enclosed the Village of Worth's no-cash bid request package for the 2021-2022 Round Two No-Cash Bid Program. This Request Package contains one (1) PIN, as follows: The Village has retained legal counsel to obtain a tax deed to the above-noted parcel and will bear all legal and other costs associated with the acquisition of the parcel. As detailed hereinbelow, the Village anticipates marketing the property for private redevelopment in the event it is able to obtain tax deed, but has not yet fielded any third-party requests or otherwise identified a specific investor or third party to whom the Village presently plans to deed the parcel. There have not been any third-party requests made to the Village to acquire the above-property.
The Village will submit to the Cook County Planning and Development Department no-cash bid reports on the status of this property until the later of five years or the completion of redevelopment.
PIN 24-19-100-021-0000 is commonly known as 7117 W. 111th Street, Worth, IL 60482 (the "Property"). The Property is improved with an unoccupied, single-story commercial structure that has remained continuously vacant for approximately twelve (12) years, since January 2010. The Village has recorded several liens against the Property relating to overgrown grass and weeds and various other property maintenance-related violations of the Village's ordinances and adopted technical codes. In addition, the City of Chicago has recorded multiple liens against the Property arising out of uncut weeds.
If a tax deed were to issue to the Village, it would apply for a property tax exemption to minimize its holding costs while marketing the property to private third-party prospective purcha...
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