Title
PROPOSED SUBSTITUTE TO FILE #25-4100
(Asset Management Committee 11/18/2025) - Issued on: 11/14/2025
Department: Department of Real Estate Management
Summary: Requesting approval of a Purchase and Sale Agreement between Cook County and Klairmont Family Associates, LP., an Illinois limited partnership, that will allow the County to purchase 225,000 rentable square foot, 13 story property located at 1701 S. 1st Avenue in Maywood, IL.
The Electronic Monitoring Unit (EMU), currently, occupies 14,400 rentable square feet on the 6th floor, and the Cook County Sheriff’s Office (CCSO) will occupy 38,143 rentable square feet on the 7th, 10th, and 12th floors, totaling 52,543 rentable square feet.
CCSO is relocating the following operations from the Jefferson and Whitcomb buildings: Press, HR, Community Engagement, Officer Support/Management Services, Juvenile Justice, Crime Scene Techs, Gun Team, Department of Revenue, Truck and Traffic Unit, Records, and Training.
Additionally, the State of Illinois will occupy 81,000 rentable square feet in April or May of 2026.
DREM performed an analysis of three (3) scenarios: (1.) Current Lease, over a five (5) year term (2.) Current lease, over a ten (10) year term, and (3.) Purchase, over a ten (10) year term, to determine the Net Present Value (NPV) of each scenario, outlined as follows:
Net Present Value Calculations (Ten (10) year hold period):
NPV of five (5) lease term: $6,546,626
NPV of ten (10) year lease term: $9,579,425
NPV, Purchase: $8,244,887
Determination: Purchase is $1,334,538 less than ten (10) year lease option
Appraisal Values: ($10,000,000 and $10,500,000)
The details are as follows:
Seller: Klairmont Family Associates, LP., an Illinois limited partnership
Purchaser: County of Cook
Location: 1701 S. 1st Avenue, Maywood, IL.
Fiscal Impact: $11,065,500.00 (including closing costs and commissions)
Account String: 11569.1031.11190.560305.00000.00000 (Capital Improvement Program)
Upon Board approval of the proposed Purchase and Exchange Agreement, the approval shall include the following authorizations:
(i) For the Real Estate Director to execute any and all notices; and
(ii) For the President or the Real Estate Director to execute any and all documents and instruments and to take such other action, as may be necessary to effectuate the purchase of the property.
(iii) For the Comptroller to pay the agreed upon purchase price, per the purchase and sale agreement, as well as any fees/closing costs that are outlined in the purchase and sale agreement.
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