title
PROPOSED LICENSE AGREEMENT
Department: Department of Real Estate Management
Request: Request to Approve License Agreement
Licensor: County of Cook
Licensee: Property Insight, LLC
Location: 50 West Washington Street, 12th Floor
Term/Extension Period: 12/1/2023 - 11/30/2026
Space Occupied: 367 square feet
Monthly Rent:
Year Rate Annual Monthly
1 $31.68 $11,627.29 $968.94
2 $32.47 $11,917.97 $993.16
3 $33.29 $12,215.92 $1,017.99
Fiscal Impact: Revenue Generating
Accounts: 11000.1031.12275.40715 - Misc. Revenue - if funds are from/to a County Account
Option to Renew: Automatically renewed for successive one (1) year periods unless terminated by the County
Termination: N/A
Utilities Included: Yes
Summary/Notes: Requesting approval of a License Agreement between the County of Cook, as Landlord, and Property Insight, LLC, a Delaware Corporation as Tenant, for use of 367 square feet of space located on the 12h Floor of the Richard J. Daley Center at 50 West Washington Street, Chicago, Illinois. This is a reduction from the current occupied space of 805 square feet used by Property Insight on the 8th floor. The reduction is due to a request by the Clerk of the Circuit Court to centralize their operations on the 8th floor concurrent with Property Insight to move and right-size the space they need to operate. The space is used for recording and transcribing information from the records of the Cook County Recorder of Deeds related to title business of Licensee.
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