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APPROVING THE PURCHASE OF REAL ESTATE LOCATED AT 2170 POINT BOULEVARD, ELGIN, ILLINOIS 60123
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WHEREAS, section 5-1004 of the Counties Code (55 ILCS 5/5-1004), the Kane County Board shall exercise the powers of the County of Kane as a body corporate or politic; and
WHEREAS, section 5-1005(1) of the Counties Code (55 ILCS 5/5-1005(1)) authorizes the County of Kane to purchase and hold real and personal estate necessary for the uses of the county; and
WHEREAS, section 5-1005(3) of the Counties Code (55 ILCS 5/5-1005(3)) authorizes the County of Kane to make all contracts and do all other acts in relating to the property and concerns of the county necessary to the exercise of its corporate powers; and
WHEREAS, the Kane County Board has determined that it is necessary to purchase and hold real estate located at 2170 Point Boulevard, Elgin, Illinois, 60123 (PIN# 03-32-126-005) ("Property") for the uses of the County of Kane; and
WHEREAS, by Resolutions 24-304 and 24-340, the Kane County Board authorized the execution of a Purchase and Sale Agreement to acquire the Property, the execution of all other corresponding documents that are required to facilitate and complete the purchase of the Property, and the appropriation of funding that will pay for the acquisition of the Property; and
WHEREAS, pursuant to such authority, the Kane County Board Chairman executed a Purchase and Sale Agreement, dated August 26, 2024, to acquire the Property for a purchase price of $2,800,000 (Two Million Eight Hundred Thousand Dollars).
NOW, THEREFORE, BE IT RESOLVED that the Kane County Board hereby approves of the purchase of real estate located at 2170 Point Boulevard, Elgin, Illinois, 60123 (PIN# 03-32-126-005) for the purchase price of $2,800,000 (Two Million Eight Hundred Thousand Dollars), with the final amount subject to customary and standard real estate closing adjustments, paid from li...
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