Much more info from a post on reddit today, also a slightly longer snippet and a remastered one.
LINK TO THE SNIPPET
REMASTER
This snippet was taped off the radio from a Chicago, IL-area radio station back in the '70s.
This snippet of the song is all that we have. According to the original uploader of the song, it is a small part of a full-length-song that possibly broadcasted on WBBM-FM;
If it was in the early '70s - it would be during the era when the station was branded as "Stereo 96 WBBM-FM"
If it was in the middle to the late '70s - it would be during the era when the station was playing contemporary music but without the harder-edged titles. During that time, the station was commonly referred to as "The Mellow Sound of Chicago".
[SEE HERE]
The next most-likely source would be WXRT, also in Chicago.
In regard to WXRT, we have already forwarded the song to the marketing director for XRT who in return shared the song amongst his colleagues. Terri Hemmert, a popular radio personality, had also been contacted about the song. Sadly, she could not identify it.
According to the original uploader, he used to tape his favorite songs off the radio. Sometimes, he'd catch the full-song. In this case, as he was listening to this song, he realized that the song was actually great. Unfortunately, he only managed to hit the record button in time to catch the last 50-seconds of it. Solving this case by identifying the title/author of this song would mean a lot to him.
In the current state, the song is almost entirely lost. Attempt(s) at identifying the song by throwing it through Shazam and other song-identifying apps proved fruitless.