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PROPOSED LEASE AMENDMENT
Department: Department of Real Estate Management
Request: Request to Renew Lease Agreement
Landlord: 161 North Clark Newco LLC
Tenant: County of Cook
Location: 161 N. Clark, Chicago, Illinois 60601
Term/Extension Period: 10/1/2026 - 9/30/2029
Space Occupied: 126,386 sq. ft.
Monthly Rent: All totals include associated base rent, rent abatement, estimated operating expenses, estimated tax expenses, and estimated work order expenses:
10/1/2026 - 9/30/2027 $4,799,838.57
10/1/2027 - 9/30/2028 $4,931,584.73
10/1/2028 - 9/30/2029 $1,154,484.96
Fiscal Impact: $10,885,908.26
Accounts: 11000.1490.33930.550130.00000.00000
Option to Renew: N/A
Termination: N/A
Utilities Included: Yes
Summary: Requesting approval to refer to the Asset Management Committee, for its consideration and approval, a three (3) year renewal of the lease between 161 North Clark Newco LLC, a Delaware Limited Liability Company, (as Landlord and the successor-in-interest to 161 N. Clark Owner, LLC) and the County of Cook, a body corporate and politic of the State of Illinois (as Tenant), to continue leasing space at the Premises, located at 161 N. Clark Street, Chicago, IL.
The lease renewal will provide the necessary time and space, as the Bureau of Asset Management (BAM) continues to execute its strategic plan, to migrate Cook County employees from 161 N. Clark into innovative, modern spaces in 69 W. Washington and 118 N. Clark. Cook County will occupy floors: 5, 10, 19, 23, and 24, approximately 106,402 rsf, for the first two (2) years of the lease and floor 19, approximately 19,984 rsf, during the third year of the lease.
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