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PROPOSED LEASE AMENDMENT
Department: Department of Real Estate Management
Request: Requesting approval to extend the Intergovernmental Agreement Lease
Landlord: Cook County
Tenant: State of Illinois, acting by its Department of Central Management Services, on behalf of the Veteran’s Administration
Location: 69 W. Washington Street, Chicago, Illinois 60602
Term/Extension Period: 2/1/2024 - 1/31/2029 (5 Years)
Space Occupied: Suite: 1620; 4,773 rentable square feet
Monthly Rent: 2/1/2024 - 1/31/2025 $8,567.54, 2/1/2025 - 1/31/2026 $8,824.56, $109,071.57 $9,089.30, 2/1/2027 - 1/31/2028 $9,361.98, 2/1/2028 - 1/31/29 $9,642.84
Fiscal Impact: Revenue Generating
Accounts: N/A
Option to Renew: Option to renew for one (1) additional five (5) year period.
Termination: N/A
Utilities Included: No
Summary: The original Intergovernmental Agreement Lease was for a five (5) year term, (December 1, 2013 - November 30, 2018). After the expiration of the original lease, The Department of Central Management Services, on behalf of the Veteran’s Administration, exercised its option to extend the lease for another five (5) year term (December 1, 2018 - November 30, 2023). Presently, the Department of Central Management Services desires to further amend the Intergovernmental Agreement, for the purpose of extending for an additional five (5) year term, by entering this Second Amendment.
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