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PROPOSED LEASE AGREEMENT
Department: Department of Real Estate Management
Request: Request to Authorize Lease
Landlord: 12757 S. Western Ave., LLC
Tenant: County of Cook
Location: 12757 S. Western Ave., Blue Island, Illinois
Term/Extension Period: Ten (10) Years
Space Occupied: Approximately 42,276 square feet
Monthly Rent:
Price PSF Monthly Annual
1 $8.23 $28,994.29 $347,931.48
2 $8.44 $29,719.15 $356,629.17
3 $8.65 $30,462.13 $365,545.15
4 $8.86 $31,223.68 $374,684.15
5 $9.08 $32,004.27 $384.051.25
6 $9.31 $32,804.38 $393,652.53
7 $9.54 $33,624.49 $403,493.85
8 $9.78 $34,465.10 $413,581.19
9 $10.03 $35,326.73 $423,920.72
10 $10.28 $36,209.90 $434,518.74
Monthly Construction Amortization:
1 $19.50 $68,698.50 $824,382.00
2 $19.99 $70,415.96 $844,991.55
3 $20.49 $72,176.36 $866,116.34
4 $21.00 $73,980.77 $887,769.25
5 $21.52 $75,830.29 $909,963.48
6 $22.06 $77,726.05 $932,712.57
7 $22.61 $79,669.20 $956,030.38
8 $23.18 $81,660.93 $979,931.14
9 $23.76 $83,702.45 $1,004,429.42
10 $24.35 $85,795.01 $1,029,540.15
Fiscal Impact: FY2019-FY2029
Accounts: 41215.4893.10155.550130.00000.0000
Option to Renew: Two (2) five (5) year renewal options
Termination: One (1) year written notice to the landlord.
Utilities Included: No. In addition to Base Rent and Construction Amortization, tenant shall pay its pro-rata share of real estate taxes and common area maintenance, which are estimated to approximate $10.11 per square foot
Summary/Notes: CCHHS will utilize the premises for The Cook County Ambulatory & Community Health Network, (ACHN) to eliminate operational costs at the Oak Forest Campus while expanding primary care and additional services in family medicine, internal medicine, obstetrics, pediatrics, behavioral health, dental and pharmacy services to meet the growing demand for area healthcare services.
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