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PROPOSED LEASE AGREEMENT
Department: Department of Real Estate Management
Request: Requesting approval of a (New) Ground Lease
Landlord: The Board of Education of the City of Chicago
Tenant: County of Cook
Location: 5411 - 5501 W. Fullerton Avenue, Chicago, Illinois 60639
Term/Extension Period: 50 Years, commencing upon approval of the Cook County Board of Commissioners
Space Occupied: 1.47 acres
Monthly Rent: $1.00 per year for so long as Lessee provides medical and health services to the public which could include Chicago Public School students and employees and their families on the Premises.
Fiscal Impact: Approval of this item would commit Fiscal 2017-2027 funds
Accounts: (893-690/550162 Rental and Leasing )
Option to Renew: Two (2) Five (5)-Year Options to Extend on the same terms and conditions
Termination: NA
Utilities Included: No, Lessee shall be responsible for the payment of all costs, expenses, utilities, telecommunications, and insurance and any real estate or leasehold taxes relating to the Premises that may arise or accrue during the Term or any Renewal Term
Summary/Notes: CCHHS intends to demolish the fieldhouse and construct a Medical Clinic on the Premises which will provide primary and preventive medical and health care and social services to the public, which may include Chicago Public School students, employees and their families
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