title
PROPOSED LEASE AMENDMENT
Department: Department of Real Estate Management
Request: Request to Renew Lease Agreement
Landlord: County of Cook
Tenant: Dr. Neil W. Margolis, O.D.C., individually, d/b/a Visual Symptoms Treatment Center
Location: 3250 N. Arlington Heights Road, Arlington Heights, Illinois 60004
Term/Extension Period: 9/1/2026 - 1/31/2032
Space Occupied: 5,8882 sq. ft.
Monthly Rent:
Term Base Rent SF Annual Rent
9/1/26-8/31/27 $19.12 5,882 $103,091.85
9/1/27-8/31/28 $19.69 5,882 $106,165.20
9/1/28-8/31/29 $20.28 5,882 $109.346.38
9/1/29-8/31/30 $20.89 5,882 $112,635.40
9/1/30-8/31/31 $21.52 5,882 $116,032.25
9/1/31-1/31/32 $22.17 5,882 $130,403.94
Fiscal Impact:
(Revenue Generating) $677,675.03
Fiscal Impact: Revenue Generating, $677,675.03 (five year, six month renewal term)
Accounts: 11000.1031.12275.407015
Option to Renew: Tenant shall have the option to renew the lease for an additional five (5) year period, upon, at least thirty (30) days' written notice to Landlord, prior to the expiration of the current term.
Termination: N/A
Utilities Included: N/A
Summary: Requesting approval of the second amendment to renew the lease between the County of Cook, a body politic and corporate of the State of Illinois ("Landlord"), and Dr. Neil W. Margolis, O.D.C., individually, d/b/a Visual Symptoms Treatment Center (“Tenant”). The Tenant currently leases approximately 5,882 sq. ft., within the County’s property located at 3250 N. Arlington Heights, Rd, Arlington Heights, Illinois 60004.
end