title
PROPOSED LICENSE AGREEMENT
Department: Department of Real Estate Management
Request: Request to Enter License Agreement
Licensor: County of Cook
Licensee: Plaza Azteca, Inc. Viva JV, LLC
Location: A portion of Lots 4 and 5 in California Health Park, a subdivision of part of the West half of the Southeast quarter of Section 25, Township 39 North, Range 13 East of the Third Principal Meridian, in Cook County, Illinois; also known as the vicinity of Cook County Criminal Courthouse, near 2650 S. California Ave.
Term/Extension Period: 2/1/2024 - 1/31/2025
Space Occupied: Approximately 16.9 Acres
Monthly Rent: $90,489.47 for the one-year term to use the site, plus $1,939.06 per day for use of the parking structure.
Fiscal Impact: Revenue Generating
Accounts: N/A
Option to Renew: N/A
Termination: N/A
Utilities Included: No
Summary/Notes: In 2012, the Board of Commissioners entered into a four-year license with Plaza Azteca for use of a site at 26th and Washtenaw, for the operation of "Special Events," including outdoor rodeos, concerts, dances, markets, carnivals and community festivals. These events are held primarily on weekends from April through October.
Plaza Azteca exercised its option contained in the License for an additional four (4) year term, which commenced on April 1, 2016, and extended through March 31,2020, as was approved by the Board. Having no further extensions, the Licensee wished to enter into a new License Agreement for an additional (4) four-year term in 2020. However, due to the pandemic, the Licensee entered into a new License agreement with a one-year term, and one renewal option, which they exercised, and the License ended October 24, 2023. Presently, the Licensee is requesting to enter into a new License agreement for a one-year term, commencing February 1, 2024, through January 31, 2025.
end