File #: 16-5053    Version: 1 Name: 69 West Washington Street, Suite 1240, Chicago, Illinois Secretary of State’s Office First Amend Business Services Division
Type: Lease Agreement Amendment Status: Approved
File created: 8/26/2016 In control: Board of Commissioners
On agenda: 9/14/2016 Final action: 9/14/2016
Title: PROPOSED LEASE AMENDMENT Department: Department of Real Estate Management Request: Approve a First Amendment to Lease Landlord: County of Cook Tenant: Secretary of State of Illinois Location: 69 West Washington Street, Suite 1240 Term/Extension Period: 11/1/2016 - 10/31/2021 Space Occupied: 7,730 Square feet Monthly Rent: Annual Base Rent Monthly Base Rent PSF $156,918.96 $13,076.58 $20.30 Operating Expenses: In addition to Base Rent, Tenant shall continue to pay its proportionate share of operating expenses for the building, currently about $9.26 per square foot or $71,580.00 annually Fiscal Impact: Revenue Generating Accounts: N/A Option to Renew: N/A Termination: N/A Utilities Included: No, Electricity separately metered and paid by Tenant Summary: The Secretary of State's Office will continue to utilize the space for its Business Services Division. The proposed rental rate is within the range of current market rates.
Indexes: (Inactive) JESSICA CAFFREY, Director, Real Estate Management Division

title

PROPOSED LEASE AMENDMENT

 

Department:  Department of Real Estate Management

 

Request:  Approve a First Amendment to Lease

 

Landlord:  County of Cook 

 

Tenant:  Secretary of State of Illinois

 

Location:  69 West Washington Street, Suite 1240

 

Term/Extension Period:  11/1/2016 - 10/31/2021

 

Space Occupied:  7,730 Square feet

 

Monthly Rent:                       Annual Base Rent                     Monthly Base Rent                      PSF

                     $156,918.96                     $13,076.58                     $20.30

 

Operating Expenses: In addition to Base Rent, Tenant shall continue to pay its proportionate share of operating expenses for the building, currently about $9.26 per square foot or $71,580.00 annually

 

Fiscal Impact:  Revenue Generating

 

Accounts:  N/A

 

Option to Renew:  N/A

 

Termination:  N/A

 

Utilities Included:  No, Electricity separately metered and paid by Tenant

 

Summary: The Secretary of State’s Office will continue to utilize the space for its Business Services Division. The proposed rental rate is within the range of current market rates.

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