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File #: 18-3098    Version: 1 Name: 4600 Roosevelt, LLC for 4600 Roosevelt Road, Hillside, Illinois
Type: Lease Agreement Status: Approved
File created: 4/5/2018 In control: Asset Management Committee
On agenda: 4/25/2018 Final action: 5/16/2018
Title: PROPOSED LEASE AGREEMENT Department: Department of Real Estate Management Request: Approval of (New) Lease Landlord: 4600 Roosevelt, LLC Tenant: County of Cook Location: 4600 Roosevelt Rd, Hillside, Illinois 60154 Term/Extension Period: Ten (10) years subject to completion of tenant improvements. (Estimated to be 8/1/2018) Space Occupied: +/-23,000 square feet. Monthly Rent: Rent Abatement: One (1) month Years PSF Rounded Monthly Annual|109|$16.50 $31,625.00 $379,500.00 |109|$16.91 $32,410.83 $388,930.00 |109|$17.34 $33,235.00 $398,820.00 |109|$17.77 $34,059.17 $408,710.00 |109|$18.21 $34,902.50 $418,830.00 |109|$18.67 $35,784.17 $429,410.00 |109|$19.13 $36,665.83 $439,990.00 |109|$19.61 $37,585.83 $451,030.00 |10 9|$20.10 $38,525.00 $462,300.00 10 $20.61 $39,502.50 $474,030.00 Fiscal Impact: Approval of this item would commit Fiscal 2018-2028 funds. Accounts: 895/550130 Rental of Facilities Option to Renew: Tenant shall have one (1), five...
Indexes: (Inactive) JOHN JAY SHANNON, MD, Chief Executive Officer, Cook County Health & Hospitals System, JESSICA CAFFREY, Director, Real Estate Management Division

title

PROPOSED LEASE AGREEMENT

 

Department:  Department of Real Estate Management

 

Request:  Approval of (New) Lease

 

Landlord:  4600 Roosevelt, LLC

 

Tenant:  County of Cook

 

Location:  4600 Roosevelt Rd, Hillside, Illinois 60154

 

Term/Extension Period:  Ten (10) years subject to completion of tenant improvements. 

(Estimated to be 8/1/2018)

 

Space Occupied:  +/-23,000 square feet. 

 

Monthly Rent:  Rent Abatement: One (1) month

Years                     PSF Rounded                     Monthly                     Annual

1                     $16.50                     $31,625.00                      $379,500.00

2                     $16.91                     $32,410.83                      $388,930.00

3                     $17.34                     $33,235.00                      $398,820.00

4                     $17.77                     $34,059.17                      $408,710.00

5                     $18.21                     $34,902.50                      $418,830.00

6                     $18.67                     $35,784.17                      $429,410.00

7                     $19.13                     $36,665.83                      $439,990.00

8                     $19.61                     $37,585.83                      $451,030.00

9                     $20.10                     $38,525.00                      $462,300.00

10                     $20.61                     $39,502.50                      $474,030.00

 

Fiscal Impact:  Approval of this item would commit Fiscal 2018-2028 funds.

 

Accounts:  895/550130 Rental of Facilities

 

Option to Renew:  Tenant shall have one (1), five (5) year option to renew with nine (9) months prior written notice at Market.

 

Termination:  NA

 

Utilities Included:  No (In addition to Base Rent, Tenant shall be responsible for its proportionate share of real estate taxes, common area maintenance and insurance estimated at $6.45 PSF)  

 

Summary/Notes: CCHHS will utilize the premises for the consolidation of CCDPH administrative operations.

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