File #: 15-3598    Version: 1 Name: Land Lease Agrmnt w Villa Venice
Type: Lease Agreement Status: Approved
File created: 5/26/2015 In control: Board of Commissioners
On agenda: 7/1/2015 Final action: 7/1/2015
Title: PROPOSED LEASE AGREEMENT Department: Real Estate Management Request: Approve a (New) Land Lease Agreement Landlord: County of Cook Tenant: Villa Venice Condominium Association Location: 939 S. 8th Avenue, LaGrange, Illinois Term/Extension Period: 7/1/2015 - 6/30/2025 Space Occupied: 4,390 Square feet Monthly Rent: $1,317.00 Annually, Year One, increased annually by 3% per year Fiscal Impact: Revenue Generating Accounts: N/A Option to Renew: N/A Termination: By County, if needed for road improvement Utilities Included: N/A Summary/Notes: Tenant has requested to use certain County owned vacant land in Cook County District #16 located adjacent to the real property owned by the Tenant, commonly known as 939 S. 8th Avenue, LaGrange, Illinois. The tenant will use and maintain the premises for parking and for no other purpose. Due to the proximity of the land to the adjacent roadway, IDOT and the Cook County Highway Departm...
Indexes: (Inactive) ANNA ASHCRAFT

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PROPOSED LEASE AGREEMENT

 

Department:  Real Estate Management

 

Request:  Approve a (New) Land Lease Agreement

 

Landlord:  County of Cook

 

Tenant:  Villa Venice Condominium Association

 

Location:  939 S. 8th Avenue, LaGrange, Illinois

 

Term/Extension Period:  7/1/2015 - 6/30/2025

 

Space Occupied:  4,390 Square feet

 

Monthly Rent:  $1,317.00 Annually, Year One, increased annually by 3% per year

 

Fiscal Impact:  Revenue Generating

 

Accounts:  N/A

 

Option to Renew:  N/A

 

Termination:  By County, if needed for road improvement

 

Utilities Included:  N/A

 

Summary/Notes:  Tenant has requested to use certain County owned vacant land in Cook County District #16 located adjacent to the real property owned by the Tenant, commonly known as 939 S. 8th Avenue, LaGrange, Illinois.

 

The tenant will use and maintain the premises for parking and for no other purpose. Due to the proximity of the land to the adjacent roadway, IDOT and the Cook County Highway Department advise us that the vacant land cannot be sold and is reserved for future road improvements and water retention purposes. All agencies involved concur that the property can be leased.

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