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File #: 21-0387    Version: 1 Name: Mobilitie Investments IV, LLC
Type: Lease Agreement Status: Approved
File created: 12/3/2020 In control: Board of Commissioners
On agenda: 1/28/2021 Final action: 1/28/2021
Title: PROPOSED LEASE AGREEMENT Department: Department of Real Estate Management Request: To approve a new Lease Agreement Landlord: County of Cook Tenant: Mobilitie Investments IV, LLC Location: George W. Dunne Cook County Office Building 69 W. Washington, Chicago, Pedway and 36th floor Term/Extension Period: 10 years Space Occupied: Approximately 206 square feet; 20 square feet in Pedway and 186 square feet on 36th floor Monthly Rent: NA; Lessee will pay $50,000.00 for each carrier to commence commercial operations and will make a one-time additional payment of $15,000.00 (per carrier) at the commencement of First Extension Term. Fiscal Impact: Revenue Generating Accounts: Option to Renew: Three (3) automatic extension terms of ten (10) years, five (5) years and five (5) years respectively Termination: Lessee may terminate with written notice to Lessor. Utilities Included: Yes Summary/Notes: Mobilitie Investments IV, LLC seeks to improve cellular n...
Indexes: (Inactive) JESSICA CAFFREY, Director, Real Estate Management Division

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PROPOSED LEASE AGREEMENT

 

Department:  Department of Real Estate Management

 

Request:  To approve a new Lease Agreement

 

Landlord:  County of Cook 

 

Tenant:  Mobilitie Investments IV, LLC

 

Location:  George W. Dunne Cook County Office Building 69 W. Washington, Chicago, Pedway and 36th floor 

 

Term/Extension Period:  10 years

 

Space Occupied:  Approximately 206 square feet; 20 square feet in Pedway and 186 square feet on 36th floor 

 

Monthly Rent:  NA; Lessee will pay $50,000.00 for each carrier to commence commercial operations and will make a one-time additional payment of $15,000.00 (per carrier) at the commencement of First Extension Term.

 

Fiscal Impact:  Revenue Generating 

 

Accounts:  

 

Option to Renew:  Three (3) automatic extension terms of ten (10) years, five (5) years and five (5) years respectively

 

Termination:  Lessee may terminate with written notice to Lessor.

 

Utilities Included:  Yes

 

Summary/Notes:  Mobilitie Investments IV, LLC seeks to improve cellular network coverage at the George W. Dunne Cook County Office Building by building, installing, operating, and maintaining a multi-carrier capable, neutral host distributed antenna system and/or similar system (small cell antenna included) capable of accommodating Carriers.  Approval is recommended.

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