TRANSMITTAL LETTER FOR BOARD MEETING OF OCTOBER 21, 2010
COMMITTEE ON REAL ESTATE
Mr. Richard Lanyon, Executive Director
Title
Rescind Board Order of May 6, 2010, authorizing and approving the entering into a contract for the purchase of 4.36 of unimproved land located at 3535 Oakton Street in Skokie, Illinois
Body
Dear Sir:
At its meeting of May 6, 2010 the Board of Commissioners authorized the District to enter into a contract with Lakeshore Waste Company for the purchase of 4.36 acres of unimproved land located at 3535 Oakton Street in Skokie, Illinois. The subject rectangular shaped tract runs north and south and is located between North Shore Channel Atlas Parcels 5.01, 5.02, and 5.03 and the Skokie Park District leasehold. Acquisition of the parcel would consolidate the District’s holding at the subject location into one contiguous parcel. The purchase price for the subject parcel was to be $2,067,500.00.
It is requested that the Board rescind its order authorizing the purchase of the subject property. Due to financial and other reasons it is not in the District’s best interest to purchase the subject property at this time and no contract has been entered into between the parties.
Requested, Frederick M. Feldman, General Counsel, FMF:CL:rg
Recommended, Richard Lanyon, Executive Director
Respectfully Submitted, Terrence J. O’Brien, Chairman Committee on Real Estate Development
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for October 21, 2010