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PROPOSED LEASE AGREEMENT
Department: Department of Real Estate Management
Request: Request Approval of New Lease
Landlord: Meacham Business Center LLC
Tenant: County of Cook, for the Use of Commissioner Kevin Morrison
Location: 1325 Wiley Road, Suite 141, Schaumburg, Illinois
Term/Extension Period: 2/15/2019-11/30/2022
Space Occupied: 1,110 Sq. Ft.
Monthly Rent: Monthly: $1,341.25 with escalation of 2.5%
Fiscal Impact: FY19-22 $62,805 (lease term total)
Accounts: 11000.1095.13915.550130 - Facility and Office Space Rental
Option to Renew: N/A
Termination: Allowable with 90-day notice on each anniversary of lease term beginning with November 30, 2019
Utilities Included: Utilities not included. Taxes and Operating Expenses payable over first year base of $5.85 per square foot.
Summary/Notes: Requesting approval of new Lease at 1325 Wiley Road, Suite 141, Schaumburg, IL for the use of Commissioner Kevin Morrison’s 15th District field office.
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