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JMICHIGAN MARION STREET JOINT "VENTURE <br />513 North Michigan Street <br />South Bend, Indiana 46601 ! <br />Pat DeClercq, Secretary <br />Board of Public Worke <br />City of South Bend <br />County City Building <br />South Bend, Indiana 46601 i October 12, 1979 <br />f <br />Dear Mrs. DeCerlcq, <br />Please accept this letter as an offer to purchase theirregular <br />shaped parcel 6f ground immediately north of the Sheridan Hotel as <br />identified on the attached diagram from the Michigan Marion Street <br />Joint Venture 4or an offering price of $12,850.00. <br />I realise this price is substantially less than the original <br />appraised value of this parcel of land before the improvements that <br />were completed on behalf of the city of South Bend. As a result of <br />these improvements, the reduced mass of land has eliminated any possible <br />offering price close to the original appraised value. <br />The use of this land would be for parking only. The irregular <br />shape of the land has further diminished the options for utilization <br />for anything but parking. Due to the curvature of the land, what would <br />normally be a standard allowance of square footage per vehicle parked <br />the existing layout will require substantially greater averages than is <br />normal, with the net result being fewer cars being able to park on <br />the same amount of square footage than would normally be expected. <br />I thank you for your consideration of this offer to purchase <br />and would appreciate your informing me of any proceedural matters that <br />must be fulfilled prior to consumation of this transaction, should it <br />be approved. <br />Sincerely yours, <br />MICHIGAN MARION STREET JOINT VENTURE <br />James P. Conboy, Jr. <br />JPC/bjw� 1 1. j <br />CC: Thomas Brunner <br />Peter Mullen ��,- 2 1979 <br />c�cMahon vl.. <br />Board of Public Warns <br />TRIC ' Dl-CLERC(:, <br />3. The Lessor warrants that the Demised Premises are free from all <br />nn F'm1"n nrnc 1•4nnr -.v+ n1­n nr i ki,k I.,y- 11A--- I;tl;+ I ncrnc+ _F_'M v.n ♦•mini nrS <br />