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PROPOSED LICENSE AGREEMENT
Department: Department of Real Estate Management
Request: Approval of an extension and license fee for a License Agreement
Licensor: County of Cook
Licensee: Peter Spyropoulos (dba) East of Eden’s Restaurant , Chicago, Illinois
Location: Adjacent to 6348 N. Cicero Avenue in Chicago
Term/Extension Period: 5/1/2017 - 4/30/2027
Space Occupied: 3,450 square feet
Monthly Rent: Annual Rent: $2,336.00 (First Year) with 3% per year escalation
Fiscal Impact: Revenue Generating
Accounts: N/A
Option to Renew: N/A
Termination: By Licensor with thirty-day notice
Utilities Included: No
Summary/Notes: In 2002, the Board of Commissioners entered into a License Agreement with Peter Spyropoulos (dba) East of Eden’s Restaurant, located at 6348 N. Cicero Avenue in Chicago for use of a vacant parcel of County excess land for the purpose of operating and maintaining a vehicle parking area located adjacent to the licensee’s business establishment.
East of Eden’s has exercised its option contained in the License for an additional ten (10) year term commencing on 5/1/2017 (the "Option Term"), subject to approval by the Board of the License Fee applicable during the Option Term.
Licensee has met the insurance requirements under the License Agreement
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