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PROPOSED LEASE AGREEMENT
Department: Department of Real Estate Management
Request: Request to Enter Lease Agreement
Landlord: County of Cook
Tenant: Office of the Attorney General of the State of Illinois
Location: 69 West Washington Street
Term/Extension Period: 8/1/2025 - 7/31/2035
Space Occupied: 20,503 sq. ft.
Monthly Rent:
Period Rate/SQ FT Annual Base Rent Monthly Rent
8/1/25 - 3/31/26 $20.15 $275,423.63 $34,427.95
4/1/26 - 3/31/27 $20.55 $421,398.16 $35,116.51
4/1/27 - 3/31/28 $20.96 $429,826.12 $35,818.84
4/1/28 - 3/31/29 $21.38 $438,422.64 $36,535.22
4/1/29 - 3/31/30 $21.81 $447,191.10 $37,265.92
4/1/30 - 3/31/31 $22.25 $456,134.92 $38,011.24
4/1/31 - 3/31/32 $22.69 $465,257.62 $38,771.47
4/1/32 - 3/31/33 $23.15 $474,562.77 $39,546.90
4/1/33 - 3/31/34 $23.61 $484,054.03 $40,337.84
4/1/34 - 3/31/35 $24.08 $493,735.11 $41,144.59
4/1/35 - 7/31/35 $24.56 $167,869.94 $41,967.48
Total Fiscal Impact $4,553,876.04
Fiscal Impact: Revenue Generating - $4,553,876.04 (Term of Lease)
Accounts: N/A
Option to Renew: N/A
Termination: Pursuant to 30 ILCS 500/40-25(a), Tenant shall have a one-time option to terminate this Lease upon the fifth anniversary of Lease Term, provided that Tenant exercises such option by providing Landlord with not less than one hundred eighty (180) days prior written notice.
Utilities Included: Yes
Summary/Notes: The Department of Real Estate Management respectfully requests approval of a ten (10) year lease between the Office of the Attorney General of the State of Illinois (as tenant), and the County of Cook, a body corporate and politic of the State of Illinois (as Landlord), to continue leasing space at the Premises, located on the 18th floor at 69 West Washington Street, Chicago, IL.
Tenant and Landlord entered into a prior lease agreement dated 3/22/17 for the Premises with an original lease term from 3/30/2017 to 3/31/22 and amended by renewal for a term from 4/1/22 to 3/31/27. Upon entering a new lease for the Premises, both parties have agreed to terminate the existing lease effective upon the execution of the new lease.
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