File #: 19-6662    Version: 1 Name: Lease Agreement for OCJ Adult Probation 845 W. 69th Street, Chicago, Illinois 60621
Type: Lease Agreement Status: Approved
File created: 11/7/2019 In control: Board of Commissioners
On agenda: 11/21/2019 Final action: 11/21/2019
Title: PROPOSED LEASE AGREEMENT Department: Department of Real Estate Management Request: To approve a Lease Agreement for The Office of the Chief Judge, Honorable Timothy C. Evans Landlord: The Salvation Army Tenant: County of Cook Location: 845 W. 69th Street, Chicago, Illinois 60621 Term/Extension Period: Five (5) years with two (2) consecutive periods of five (5) years each. Space Occupied: 5,941 square feet Monthly Rent: $7,500.00 per month with 2.5% escalations for each five-year extension. Fiscal Impact: $450,000.00 over the first term; $1,384,031.37 over entire term. Accounts: Option to Renew: NA Termination: The County may terminate the lease at any time upon giving Landlord sixty (60) days written notice. Utilities Included: Yes Summary/Notes: The Office of the Chief Judge seeks to enter into a lease in order to operate Cook County's Adult Probation Department and the Department's Partnerships with Community Providers. Approval is reco...
Indexes: (Inactive) JESSICA CAFFREY, Director, Real Estate Management Division

title

PROPOSED LEASE AGREEMENT

 

Department:  Department of Real Estate Management

 

Request: To approve a Lease Agreement for The Office of the Chief Judge, Honorable Timothy C. Evans

 

Landlord:  The Salvation Army  

 

Tenant:  County of Cook   

 

Location:  845 W. 69th Street, Chicago, Illinois 60621  

 

Term/Extension Period:  Five (5) years with two (2) consecutive periods of five (5) years each. 

 

Space Occupied:  5,941 square feet  

 

Monthly Rent:  $7,500.00 per month with 2.5% escalations for each five-year extension.

 

Fiscal Impact:  $450,000.00 over the first term; $1,384,031.37 over entire term.

 

Accounts: 

 

Option to Renew:  NA 

 

Termination: The County may terminate the lease at any time upon giving Landlord sixty (60) days written notice.

 

Utilities Included:  Yes

 

Summary/Notes: The Office of the Chief Judge seeks to enter into a lease in order to operate Cook County’s Adult Probation Department and the Department’s Partnerships with Community Providers.  Approval is recommended.

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