SUBJECT: R eal Estate Purchase Agreement (505 - 513 S. Michigan St.)Real Estate Purchase Agreement • September 12th, 2017
Contract Type FiledSeptember 12th, 2017This Real Estate Purchase Agreement (Agreement) is for what is commonly known as the Fat Daddy's block, in the 500 block of S. Michigan St. This property was recently taken through the disposition process, with bids due July 27, 2017. One bid was received, from Commonwealth Development Corp., that met the minimum offering price of $45,000. On August 10 the Commission accepted Commonwealth's bid amount and authorized staff to proceed with an Agreement.