TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 18, 2026
COMMITTEE ON REAL ESTATE
Mr. John P. Murray, Executive Director
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Consent to assignment of easement agreement dated March 24, 1949, from ISF Chicago LLC and Byline Bank to 46th Street Property Owner, LLC and Associated Bank, National Association, as co-grantees, to use and maintain the District-owned portions of Edmier Road between Cicero Avenue and Ridgeland Avenue in Stickney and Forest View, Illinois. Consideration shall be a document preparation fee of $5,000.00
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Dear Sir:
Edmier Road is a private roadway located south of the Stickney Water Reclamation Plant ("Stickney WRP") that runs parallel to the Main Channel. The District owns a portion of the roadway generally between Cicero and Laramie Avenues. The other sections of the roadway, generally between Laramie and Ridgeland Avenues, are not owned by the District; certain sections were owned by Commonwealth Edison ("ComEd") to access its land west of the Stickney WRP. On March 24, 1949, the District and ComEd granted each other reciprocal perpetual easements to use their respective portions of Edmier Road.
Since the original 1949 easement, ComEd sold the property it owned west of the Stickney WRP. Accordingly, from time to time the Board of Commissioners ("Board") has authorized easement amendments and assignments to allow ComEd's successors in interest to continue using and maintaining the District's portion of Edmier Road to access the adjacent property. On March 5, 2020, the Board authorized an easement amendment to allow Kornerstone Properties, LLC, ComEd's first successor in interest to use and maintain the road. On May 20, 2021, the Board consented to Kornerstone’s assignment of the easement to the current owners of the adjacent property, ISF Chicago LLC (“ISF”) and Byline Bank (“Byline”).
ISF and Byline are now requesting the District’s consent to assign the 1949 easement, as amended, to 46th Street Property Owner, LLC (“46th Street”), as the primary assignee, and Associated Bank, National Association (“Associated Bank”), as a collateral assignee. 46th Street has contracted to purchase the adjacent non-District owned property, and Associated Bank is 46th Street’s lender that will hold a mortgage on those lands and its improvements. Associated Bank, as a collateral assignee, may assume the rights, liabilities, and responsibilities of the 1949 easement in the event 46th Street defaults on its agreement with Associated Bank. 46th Street and Associated Bank’s use of the easement premises will be the same as ISF and Byline’s use.
It is requested that the Executive Director recommend to the Board of Commissioners that it consent to the assignment of easement agreement dated March 24, 1949, from ISF Chicago LLC and Byline Bank to 46th Street Property Owner, LLC and Associated Bank, National Association, as co-grantees, to use and maintain the District-owned portions of Edmier Road between Cicero Avenue and Ridgeland Avenue in Stickney and Forest View, Illinois. Consideration shall be a document preparation fee of $5,000.00.
It is also requested that the Executive Director recommend to the Board of Commissioners that it authorize and direct the Chairman of the Committee on Finance and the Clerk to execute said Consent to Assignment of Easement Agreement after it is approved by the General Counsel as to form and legality.
Requested, Susan T. Morakalis, General Counsel, STM:BJD:KHY:vp
Recommended, John P. Murray, Executive Director
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for June 18, 2026
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