university of illinois - UIHistories Project

366 BOARD OF TRUSTEES [April 18
PURCHASE OF LAND
(n) The University has been offered the property at 1005 West Green Street,
Urbana, at a price of $35,000 on these terms: $10,000 to be paid upon possession,
not later than July 15, 1957; $10,000 to be paid between January 1 and 31, 1058;
$15,000 to be paid between January 1 and 31, 1959; interest at 4 per cent per
annum to be paid on the unpaid balance; taxes for 1957 to be prorated as of the
date of possession.
The property consists of a lot with a frontage of 95 feet on Green Street
and 268 feet deep; a frame house, converted into three four-room apartments,
two on the first floor and one on the second floor; and a small (four rooms and
bath) house on the rear of the lot. The aggregate rental of these houses is $350
a month. The property is in the area of future campus expansion and will be
needed for student residence halls.
No payment is required until after July 1, 1957. The University has received
three independent appraisals, ranging from $37,825 to $41,644, which
indicate that the price is reasonable in terms of present property values.
This has previously been reported to the Committee on Buildings and
Grounds which recommends the purchase of the property at the offered price
of $35,000.
I concur and recommend that the Comptroller and the Secretary of the
Board execute the necessary documents.
On motion of Mr. Nickell, the purchase of this property on the
terms indicated was authorized, and an appropriation of $35,000 was
made from the General Reserve Fund to provide for the payments as
specified above. This action was taken by the following vote: Aye, Mr.
Bissell, Mr. Herrick, Mrs. Holt, Mr. Hughes, Mr. Livingston, Mr.
Nickell, Mr. Swain, Mrs. Watkins; no, none; absent, Mr. Johnston,
Mr. Stratton, Mr. Williamson.
CONDEMNATION OF PROPERTIES AT URBANA, ILLINOIS
204 South Goodwin Avenue
(12) The University now owns all of the property on the east side of the 200
block of Goodwin Avenue, except the property located at 204 South Goodwin
in the city of Urbana, Illinois. This property is owned by Mrs. Leola C. Graham.
It is approximately 60 feet wide and no feet in depth. The University needs
this property as part of the site for the contemplated Physics Building. Negotiations
have been conducted by the Physical Plant Department with Mrs. Graham
and it appears that the amount of compensation to be paid for the property can
not be agreed upon. Mrs. Graham and her advisers are unwilling to sell the
property to the University except at a price which University officers deem
excessive.
It is, therefore, obvious that it will be necessary for the University to resort
to its right of eminent domain in order to acquire this property at a reasonable
price.
Accordingly, the Vice-President and Comptroller, the Director of the
Physical Plant, and the Legal Counsel recommend the adoption of the following
resolution, and I concur.
Resolution
It is hereby resolved, found and declared by The Board of Trustees of the
University of Illinois that the following described real estate situated in the
City of Urbana in Champaign County, Illinois, to wit:
The South Sixty (60) feet of the North One Hundred Thirty-four (134)
feet of the West One Hundred Twenty (120) feet of Lot Five (5), in
W. M. Goodwin's Addition to the City of Urbana, except the West Ten
(10) feet thereof,
is needed by the University of Illinois, an educational institution established and
supported by the State of Illinois, as part of the site of a building needed and to
be constructed by said University of Illinois for educational purposes and for
further expansion of educational facilities of the University of Illinois and to
enable the University to discharge its duty to the people of said state and for