File #: 24-0804    Version: 1 Name: Plaza Azteca License Agreement
Type: License Agreement Status: Approved
File created: 12/27/2023 In control: Board of Commissioners
On agenda: 1/25/2024 Final action: 1/25/2024
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 sit...
Indexes: QUINCE BRINKLEY, Director, Real Estate Management

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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.

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