title
PROPOSED CONTRACT AMENDMENT
Department(s): Bureau of Asset Management, Real Estate Management, Capital Planning
Vendor: CBRE, Inc.
Request: Authorization for the Chief Procurement Officer to extend contract
Good(s) or Service(s): Real Estate evaluation and planning services
Original Contract Period: 5/1/2012 - 4/30/2014
Proposed Contract Period Extension: 5/1/2015 - 4/30/2016
Total Current Contract Amount Authority: $9,844,265.00
Original Approval (Board or Procurement): 5/1/2012, $9,844,265.00
Previous Board Increase(s) or Extension(s): N/A
Previous Chief Procurement Officer Increase(s) or Extension(s): 3/31/2014, 5/1/2014 - 4/30/2015
This Increase Requested: N/A
Potential Fiscal Impact: FY 2015:None, FY 2016:None
Accounts: 20000 County Physical Plant
Contract Number(s): 11-44-040A
Concurrences:
Vendor has met the Minority and Women Business Enterprise Ordinance.
The Chief Procurement Officer concurs
Summary: This contract was awarded to U.S. Equities Realty through a Request for Proposal process in accordance with the Cook County Procurement Code. CBRE Inc., purchased the assets of U.S. Equities Realty, and is its successor in interest. Pursuant to the Contract, CBRE, Inc, has developed a strategic plan for consolidating County real estate assets. This extension will allow funds remaining in the contract to be utilized to expedite implementation initiatives within the scope of the contract services, including preliminary programming and re-stack planning for the consolidation of the downtown office campus, and continued planning and analysis services for the implementation of Real Estate Asset Strategic Realignment Plan recommendations. Current opportunities in the downtown leasing market require immediate planning efforts to establish the parameters for space that can be leased. While this early phase of implementation is ongoing, the Bureau of Asset Management will be working w...
Click here for full text