RESOLUTION 2025-04-01-R

RESOLUTION 2024-04-01-R fixing the time and specifying the terms of the sale for certain property commonly known as 680 Sutton Road (Property Index Number 06-21-409-010-0000) of the Streamwood Park District, Cook County, Illinois

WHEREAS, the Streamwood Park District, Cook County, Illinois (the “District”), is a duly organized and existing Park District created under the provisions of the laws of the State of Illinois, and is now operating under the provisions of the Park District Code of the State of Illinois, as amended (the “Park Code”);

WHEREAS, the Board of Park Commissioners of the District (the “Board”) intends to sell an approximately 10.46 acre parcel of real property consisting of all of the land, commonly known as 680 Sutton Road, generally located at the north side of Irving Park Road, west of Route 59, Property Index Number 06-21-409-010, in Streamwood, Illinois, the legal description of which is attached hereto as Exhibit A (the “Property”);

WHEREAS, the sale of the Property has been approved by a majority of the voters of the District at the general election held on November 5, 2024;

WHEREAS, the Property shall be sold at public auction and prior to directing the notice for the sale of the Property, Section 10-7d of the Park Code requires the Board to adopt a resolution fixing the time for the sale and specifying the terms of such sale.

Now, THEREFORE, Be It and It is Hereby Resolved by the Board of Park Commissioners of the Streamwood Park District, Cook County, Illinois, as follows:

Section 1. Incorporation of Preambles. The Board hereby finds that all of the recitals contained in the preambles to this Resolution are full, true and correct and does incorporate them into this Resolution by reference.

Section 2.  Time and Location of Sale. The Board hereby sets a public auction to be held at 6:00 o’clock p.m. on August 26, 2025 at the Streamwood Park District Hoosier Grove Barn, 700 W. Irving Park Road, Streamwood, Illinois, in the District, for the sale of the Property (the “Sale”).

Section 3.  Terms of Sale. The Property is offered for sale on, and subject to, the terms and conditions contained in a Real Estate Sales Contract (the “Sales Contract”). A cashier’s check payable to the Streamwood Park District in the amount of $125,000 for the Property is required to bid at the Sale, which will be applied towards the purchase price.  The winning bidder’s deposit of $125,000 will be nonrefundable except as provided in the Sales Contract or if the Park District terminates the Sales Contract or is in default. Closing shall be no later than 60 days after the acceptance of the bid, unless mutually agreed otherwise or unless extended by reason of any title defect, at an office of Chicago Title Insurance Company, or as otherwise provided under the terms of the Sales Contract.

Section 4.  Notice. The Secretary of the Board shall provide two weeks’ notice of the Sale by publishing a notice for two successive weeks, once each week, in the Daily Herald, the same being a newspaper of general circulation in the District (there being no newspaper published therein), the first publication being not less than fifteen days prior to the date of the Sale.

Section 5. Form of Notice. Notice of the Sale shall appear above the name of the President of the Board and shall be in substantially the following for

NOTICE OF SALE 

NOTICE IS HEREBY GIVEN that on the 26th day of August, 2025, the Streamwood Park District, Cook County, Illinois (the “District”), will sell at public auction (the “Sale”) at the Streamwood Park District Hoosier Grove Barn, located at Streamwood Park District Hoosier Grove Barn, 700 W. Irving Park Road Streamwood, Illinois, at the hour of 6:00 o’clock P.M. the following described property:

10.46 acre parcel of real property consisting of all of the land, commonly known as 680 Sutton Road, generally located at the north side of Irving Park Road, west of Route 59, Property Index Number 06-21-409-010, in Streamwood, Illinois

The Property is offered for sale on, and subject to, the terms and conditions contained in the Real Estate Sales Contract (the “Sales Contract”). At the Sale, the Property will be sold to the highest responsible bidder, provided, however, that the Property is being offered with a reserve.  The minimum bid for the Property is $1,150,000.

A cashier’s check payable to the Streamwood Park District in the amount of $125,000 for the Property is required to bid at the Sale, which will be applied towards the purchase price.  The winning bidder’s deposit of $125,000 will be nonrefundable except as provided in the Sales Contract or if the Park District terminates the Sales Contract or is in default.  In the event the highest bidder fails to close for any reason, the District reserves the right to accept the bid of the next highest bidders, in order, and to thereafter enter into a Sales Contract in order to sell the Property or to advertise for resale pursuant to Section 10-7d of the Park Code.

The District also reserves the right to terminate the Sales Contract and to reject any or all bids and advertise for resale pursuant to Section 10-7d of the Park District Code of the State of Illinois, as amended. Closing will occur no later than 60 days after the acceptance of the bid, unless mutually agreed otherwise or unless extended by reason of any title defect, at an office of Chicago Title Insurance Company, or as otherwise provided under the terms of the Sales Contract.

The terms of sale, auction information, form of the Sales Contract and any other pertinent property information, including the legal description of the Property, may be obtained from Jeff Janda, the Executive Director of the District at Streamwood Park District, 777 S. Bartlett Road, Streamwood, Illinois 60107 or at the District’s website www.streamwoodparks.org.

By order of the Board of Park Commissioners of the Streamwood Park District, Cook County, Illinois.

DATED the 22nd day of April 2025.

Bill Wright, President, Board of Park Commissioners, Streamwood Park District, Cook County, Illinois

Section 6. Sale of Property and Rejection of Bids. At the Sale, the Board shall sell the Property to the highest responsible bidder. The Property, however, is being offered with a reserve and is subject to the District’s approval.  The minimum bid for the Property is $1,150,000. The final high bids on the Property will be irrevocable until 8:00 p.m. Chicago time on August 26, 2025, or as otherwise indicated in the Sales Contract. The District has the right to accept or reject the high bid for a reserve sale until that time and will not have any obligations or duties to any purchaser unless and until the District signs the Sales Contract. The winning high bidder will be informed of the District’s decision either at the Sale, or by telephone or email. The District reserves the right, in its sole discretion, to “lift the reserve,” or waive its right of rejection, during the reserve round of bidding at the Sale. If the District lifts the reserve, it shall be treated from that point on like an absolute sale. Notwithstanding the foregoing, the Board of the District reserves the right to terminate the Sales Contract and to reject any or all bids and advertise for resale pursuant to Section 10-7d of the Park Code.  In the event the highest bidder fails to close for any reason, the District reserves the right to accept the bid of the next highest bidders, in order, and to thereafter enter into a Sales Contract in order to sell the Property or to advertise for resale pursuant to Section 10-7d of the Park Code.

Section 7.  Severability. If any section, paragraph, clause or provision of this Resolution shall be held to be invalid or unenforceable for any reason, the invalidity or unenforceability of such section, paragraph, clause or provision shall not affect any of the remaining provisions of this Resolution.

Section 8.  Repeal. All resolutions and parts thereof in conflict herewith be and the

same are hereby repealed, and this Resolution shall be in full force and effect forthwith upon its adoption.

Passed this 22nd day of April, 2025.

Ayes: 4

Nays: 0

Abstain: 0

Absent: 1

Streamwood Park District

 Bill Wright, President

Sherri Harry, Secretary

 Exhibit A

Legal description

       PARCEL 1:

LOTS 5 AND 6 IN STREAMWOOD CROSSINGS SUBDIVISION, BEING A SUBDIVISION OF PART OF THE SOUTHEAST 1/4 OF SECTION 21 AND THE SOUTHWEST 1/4 OF SECTION 22, TOWNSHIP 41 NORTH, RANGE 9, EAST OF THE THIRD PRINCIPAL MERIDIAN, ACCORDING TO THE PLAT THEREOF RECORDED AUGUST 3, 2005 AS DOCUMENT NUMBER 0521532103, COOK COUNTY, ILLINOIS.

PARCEL 2:

NON-EXCLUSIVE EASEMENTS FOR THE BENEFIT OF PARCEL 1 FOR INGRESS AND EGRESS, STORMWATER MANAGEMENT, PARKING, SANITARY SEWER, SIGNAGE, PUBLIC UTILITIES AND CONSTRUCTION AS CONTAINED IN THE DECLARATION RECORDED AS DOCUMENT NUMBER 0526539034 AND ON THE PLAT OF STREAMWOOD CROSSINGS SUBDIVISION AFORESAID.