File #: 24-1039    Version: 1 Name: IGA Agreement Lease Extension DCFS
Type: Lease Agreement Amendment Status: Approved
File created: 1/12/2024 In control: Board of Commissioners
On agenda: 1/25/2024 Final action: 1/25/2024
Title: 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 and through its Department of Central Management Services, on behalf of the Department of Children and Family Services Location: 2245 W. Ogden, Chicago, IL 60612 Term/Extension Period: 2/1/2024 - 1/31/2029 (5 Years) Space Occupied: 17,415 rentable square feet of office space, located on the 3rd floor of the building, 2245 W. Ogden Avenue, Chicago, IL 60612 Monthly Rent: 2/1/2024 - 1/31/2025 $30,518.04, 2/1/2025 - 1/31/2026 $31,432.27, 2/1/2026 - 1/31/2027 $32,375.53, 2/1/2027 - 1/31/2028 $33,347.81, 2/1/2028 - 1/31/2029 $34,349.12 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: Yes Summary: The original Intergovernmental Agreemen...
Indexes: QUINCE BRINKLEY, Director, Real Estate Management

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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 and through its Department of Central Management Services, on behalf of the Department of Children and Family Services  

 

Location:  2245 W. Ogden, Chicago, IL 60612

 

Term/Extension Period:  2/1/2024 - 1/31/2029 (5 Years) 

 

Space Occupied:  17,415 rentable square feet of office space, located on the 3rd floor of the building, 2245 W. Ogden Avenue, Chicago, IL  60612

 

Monthly Rent:  2/1/2024 - 1/31/2025 $30,518.04, 2/1/2025 - 1/31/2026 $31,432.27, 2/1/2026 - 1/31/2027 $32,375.53, 2/1/2027 - 1/31/2028 $33,347.81, 2/1/2028 - 1/31/2029 $34,349.12

 

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:  Yes

 

Summary: The original Intergovernmental Agreement 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 DCFS, 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 lease, for the purpose of extending for an additional five (5) year term, by entering this Second Amendment. 

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