title
PROPOSED LICENSE AGREEMENT
Department: Real Estate Management
Request: Approval of a License Agreement
Licensor: County of Cook
Licensee: Cook County Land Bank Authority
Location: 69 West Washington, Suite 2900, Chicago, Illinois
Term/Extension Period: 12/1/2014 - 11/30/2017
Space Occupied: 1,042 Square feet
Monthly Rent: $10.26 per square foot / adjusted by 3% annually
Fiscal Impact: Revenue Generating
Accounts: N/A
Option to Renew: Two - 2 year options / 60 days prior written notice to County
Termination: By either party with 60 days prior written notice.
Utilities Included: Yes
Summary/Notes: The Cook County Land Bank Authority has requested space at the George W. Dunne Office Building to conduct its activities. Due to the governmental nature of this entity and its relationship to Cook County, space will be provided "as is" and is being offered at the County's cost of operating the space. This relocation from current space will conserve resources of the Land Bank and provide for efficient operation of this related function, while reimbursing the County for costs Upon 60 days' written notice, the Land Bank may expand into adjacent space, in an amount up to a total of 2,492 square feet.
The County reserves the right to relocate the Land Bank to suitable, comparable space in a comparable location if necessary to accommodate County functions.
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