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PROPOSED LICENSE AGREEMENT
Department: Department of Real Estate Management
Request: Request to Approve License Agreement
Licensor: County of Cook
Licensee: Viva JV, LLC
Location: West 26th Street and South Washtenaw Avenue, in the vicinity of Cook County Criminal Courthouse near 2650 S. California Ave.
Term/Extension Period: 2/1/2025 - 1/31/2026
Space Occupied: Approximately 16.9 acres
Monthly Rent: One-time Annual Payment of $91,179.00
Fiscal Impact: Revenue Generating
Accounts: N/A
Option to Renew: N/A
Termination: Licensor shall have the right to terminate this License agreement, upon thirty (30) days written notice to Licensee, at any time, during the Term.
Utilities Included: N/A
Summary/Notes: The Department of Real Estate Management is requesting approval to enter into a one (1) year License Agreement between Viva JV, LLC, a Delaware Limited Liability Company, as Licensee, and The County of Cook, as Licensor, to permit the Licensee to utilize the site, located at 26th and Washtenaw, for the operation of "Special Events," including: outdoor Mexican style rodeos, concerts, dances, markets, carnivals, and community festivals. These events are held, primarily, on weekends, from April through October. Plaza Azteca has been operating at this site for nearly 30 years, and its current License Agreement expires, January 31, 2025.
This license agreement will enable the Licensee to continue providing entertainment and employment opportunities to residents of the community and provide revenue to the County, while the Bureau of Asset Management determines the highest and best future use for this site.
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