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PROPOSED LEASE AGREEMENT
Department: Department of Real Estate Management
Request: Requesting approval of Structure Lease
Landlord: County of Cook
Tenant: Crown Castle, AS LLC, a Delaware Limited Liability Corporation
Location: 2121 Euclid Avenue, Rolling Meadows, Illinois
Term/Extension Period: 5 years with four (4) 5-year renewal terms
Space Occupied: Portion of the roof of the County facility located at 2121 Euclid in Rolling Meadows
Monthly Rent: $2,100 per month (which is 70% of Subleasing Gross Revenue) with a 2.75% annual escalation.
Fiscal Impact: $133,123 Revenue over the first 5-year term and $889,203 over the entire term.
Accounts:
Option to Renew: Four (4) 5-year renewal terms
Termination: Termination by either party with thirty (30) days prior written notice.
Utilities Included: NA
Summary/Notes: Approval is recommended.
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