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PROPOSED LEASE AMENDMENT
Department: Department of Real Estate Management
Request: Approval of a Third Amendment to Land Lease
Landlord: County of Cook
Tenant: Amerco Real Estate Company, Phoenix, Arizona
Location: Adjacent to 801 S. Harlem, Forest Park, Illinois
Term/Extension Period: 9/1/2016 - 8/31/2021
Space Occupied: 6,846 Square feet
Monthly Rent:
$776.60 per month /$9,319.20 annually (First Year)
Escalation: 3% per year (years 2-5)
Fiscal Impact: Revenue Generating
Accounts: N/A
Option to Renew: N/A
Termination: By Tenant with ninety-day notice, By County with thirty-day notice
Utilities Included: No
Summary: 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 two arterial roadways, the vacant land cannot be sold and is reserved for future road improvements.
The tenant has met Cook County insurance requirements
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