title
PROPOSED LEASE AMENDMENT
Department: Real Estate Management
Request: Approval of a Second Amendment to Lease
Landlord: County of Cook
Tenant: Veterinary Centers of America
Location: 905 E. 31st Street, LaGrange, Illinois
Term/Extension Period: 3/1/2015 - 2/28/2020
Space Occupied: 1,740 square feet
Monthly Rent: Annual Base Rent:
3/1/2015 - 2/29/2016 - $829.00 annually
3/1/2016 - 2/28/2017 - $854.00 annually
3/1/2017 - 2/28/2018 - $880.00 annually
3/1/2018 - 2/28/2019 - $906.00 annually
3/1/2019 - 2/29/2020 -$933.00 annually
Fiscal Impact: Revenue Generating
Accounts: N/A
Option to Renew: (2) consecutive five (5) year terms at (3%) / year increase
Termination: By either party with 90 day prior written notice
Utilities Included: N/A
Summary: This Lease covers the rental of County owned vacant land, adjacent to the real property commonly known as 905 E. 31st Street, LaGrange, Illinois. This amendment extends the term of a lease approved by the Board of Commissioners on 12/1/1997.
The Tenant will continue to maintain and utilize the premises for parking and for no other purpose. Due to the proximity of the land to the arterial roadway, the vacant land cannot be sold and is reserved for future road improvements.
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