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PROPOSED LEASE AGREEMENT
Department: Department of Real Estate Management
Request: Request to Enter Lease Agreement
Landlord: Ascentris-LPC LaSalle Owner, LLC
Tenant: County of Cook, on behalf of the Office of the Independent Inspector General
Location: 120 North LaSalle Street, Chicago, Illinois
Term/Extension Period: 1/1/2027 - 12/31/2042
Space Occupied: 13,727 sq. ft.
Monthly Rent: $66,294.27
Fiscal Impact: $11,932,969.00
Accounts: 11000.1080.10155.550131.00000.00000
Option to Renew: N/A
Termination: N/A
Utilities Included: Yes
Summary/Notes: On behalf of the Office of the Independent Inspector General (OIIG), the Department of Real Estate Management is requesting approval of a lease agreement between Ascentris-LPC LaSalle Owner, LLC, a Delaware Limited Liability Company, as Lessor, and the County of Cook, a body corporate and politic of the State of Illinois, as Lessee, to lease approximately 13,727 square feet of space on the 26th floor of 120 North LaSalle Street, Chicago, Illinois.
Currently, the OIIG is located on two (2) non-contiguous floors of 69 West Washington. The new lease will consolidate operations into a single space, to facilitate increased efficiency.
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