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File #: 20-4186    Version: 1 Name: Illinois Workers’ Compensation Commission, Chicago, Illinois
Type: Intergovernmental Agreement Status: Approved
File created: 9/9/2020 In control: Board of Commissioners
On agenda: 9/24/2020 Final action: 9/24/2020
Title: PROPOSED INTERGOVERNMENTAL AGREEMENT (REAL ESTATE) Department: Department of Real Estate Management Landlord: County of Cook, Chicago, Illinois Tenant: Illinois Workers' Compensation Commission, Chicago, Illinois Request: To approve a new Lease Agreement Location: 69 W. Washington, Suite 900, Chicago Agreement Period: 12/12020 - 11/30/2030 Termination: 180-days written notice, either party Space Occupied: 23,589 square feet Fiscal Impact: Revenue Generating Accounts: N/A Summary: To approve a new Lease Agreement with Illinois Workers' Compensation Commission. The Illinois Workers' Compensation Commission resolves disputes between employees and employers regarding work-related injuries and illnesses. The monthly base rent is $40,494.00 with 3% escalations plus tenant proportionate share of operating expenses. Approval is recommended.
Indexes: JESSICA CAFFREY, Director, Real Estate Management Division

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PROPOSED INTERGOVERNMENTAL AGREEMENT (REAL ESTATE)

 

Department:  Department of Real Estate Management

 

Landlord:  County of Cook, Chicago, Illinois

 

Tenant:  Illinois Workers’ Compensation Commission, Chicago, Illinois

 

Request:  To approve a new Lease Agreement

 

Location:  69 W. Washington, Suite 900, Chicago

 

Agreement Period:  12/12020 - 11/30/2030

 

Termination:  180-days written notice, either party

 

Space Occupied:  23,589 square feet

 

Fiscal Impact:  Revenue Generating

 

Accounts:  N/A

 

Summary:  To approve a new Lease Agreement with Illinois Workers’ Compensation Commission. The Illinois Workers' Compensation Commission resolves disputes between employees and employers regarding work-related injuries and illnesses. The monthly base rent is $40,494.00 with 3% escalations plus tenant proportionate share of operating expenses.  Approval is recommended.

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