HomeMy WebLinkAboutResolution #5493 - accepting proposal for the sale of surplus real estate located at 55 Van Buren Ct RESOLUTION NO. 5493
A RESOLUTION ACCEPTING PROPOSAL FOR THE SALE OF
SURPLUS REAL ESTATE LOCATED AT 55 VAN BUREN CT.
WHEREAS, the City of Canton, Fulton County, Illinois ("City"), is a non-home rule unit of
government;
WHEREAS, Section 11-76-4.1 of the Illinois Municipal Code (65 ILCS 5/11-76-4.1)
provides:
Sale of surplus real estate. The corporate authorities of a municipality by
resolution may authorize the sale or public auction of surplus public real estate.
The value of the real estate shall be determined by a written MAI certified
appraisal or by a written certified appraisal of a State certified or licensed real
estate appraiser. The appraisal shall be available for public inspection. The
resolution may direct the sale to be conducted by the staff of the municipality; by
listing with local licensed real estate agencies, in which case the terms of the
agent's compensation shall be included in the resolution; or by public auction. The
resolution shall be published at the first opportunity following its passage in a
newspaper published in the municipality or, if none, then in a newspaper
published in the county where the municipality is located. The resolution shall
also contain pertinent information concerning the size, use, and zoning of the real
estate and the terms of sale. The corporate authorities may accept any contract
proposal determined by them to be in the best interest of the municipality by a
vote of two-thirds of the corporate authorities then holding office, but in no event
at a price less than 80% of the appraised value.
WHEREAS, the City currently owns the following described surplus real estate
(hereinafter the "Surplus Real Estate")
West One-half(1/2) of Lot Thirty-two (32) in Jones' Second Addition to the City
of Canton, Fulton County, Illinois, according to the recorded plat of the same
excepting ten (10) feet off the North side thereof for an alley, situated in the City
of Canton, in the County of Fulton, in the State of Illinois.
PIN(s): 09-08-27-43 7-007
Common Address: 55 Van Buren Court
WHEREAS, the corporate authorities, by Resolution No. 5488 (adopted September 3,
2024) and by this Resolution, have determined that the Surplus Real Estate is no longer
necessary, appropriate, required for the use of, profitable to, or for the best interests of the City;
WHEREAS, the Surplus Real Estate has been appraised by Chad A. Beekman, a Certified
General Real Estate Appraiser, and his appraisal indicates a fair market value of Seventy Thousand
and No/100 Dollars ($70,000.00) (the "Appraised Value");
WHEREAS, Billy's Tap, Inc. is the only person or entity that submitted a proposal (the
"Proposal") for the purchase of the Surplus Real Estate, a copy of which is attached hereto as
"Exhibit A";
WHEREAS, the Proposal offers to purchase the Surplus Real Estate for an amount that is
at least 80% of the appraised value of the Surplus Real Estate, as determined by a written certified
appraisal from a State certified or licensed real estate appraiser(Chad Beekman);
WHEREAS, the corporate authorities have determined that it is in the best interests of the
City to sell the Surplus Real Estate to Billy's Tap, Inc., subject to the terms and conditions set
forth herein.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND THE CITY
COUNCIL OF THE CITY OF CANTON, FULTON COUNTY, ILLINOIS AS FOLLOWS:
1. That the Recitals set forth above, and all facts and statements contained therein, are
found to be true and correct and are hereby incorporated and adopted as part of this Resolution;
2. The Proposal, attached hereto as "Exhibit A," is hereby ACCEPTED and
APPROVED, subject to additional terms and conditions satisfactory to the City;
3. The Mayor is authorized to execute a purchase agreement, for a sale price of
$56,000.00 plus other customary closing costs, and any and all other necessary documents (e.g.
deed), in order to sell all or a portion of the Surplus Real Estate to Billy's Tap, Inc.
4. The Mayor is authorized to negotiate the purchase agreement, after consulting with
the City Attorney, in order to effectuate the sale substantially on the same terms and conditions as
in the Proposal and with Section 4 of Resolution 5488, provided that the sale price does not
decrease; and
5. Any Resolutions in conflict with this Resolution are hereby repealed or otherwise
superseded.
6. This Resolution shall be in full force and effective immediately upon its passage by
the City Council of the City of Canton and approval by the Mayor thereof.
PASSED AND APPROVED THIS 15th day of October, 2024.
Ayes: Alderpersons Chamberlin, Grimm,Nelson, Lovell, Gossett, Ketcham
Nayes: None
Absent: Alderpersons Hale, Lingenfelter
APPROVED:
McDowel , yor
AT T T:
�ndrea J. S ith-Walters,
City Clerk
Date: September 17, 2024
Seller: City of Canton, II
2 N Main St
Canton, IL 61520
Buyer: Billy's Tap Inc DBA Billy's Tap
Parcel Number: 09-08-27-437-007
Address: 55 Van Buren Ct
Canton, IL 61520
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Appraised Value: $70,000
Mini Bid Required: $70,000(.80)=$56,000
I bid: 561000-
*filing fee + escrow considered
Present Zoning Classification: 12 Heavy Industrial
Property now used as: City Storage
Proposed use of building: Storage for commercial business
Si nature
Buyer
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