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File #: 21-4097    Version: 1 Name: Fourth Lease Amendment with Amerco as Tenant
Type: Lease Agreement Amendment Status: Approved
File created: 7/6/2021 In control: Asset Management, Bureau of
On agenda: 7/29/2021 Final action: 7/29/2021
Title: PROPOSED LEASE AMENDMENT Department: Department of Real Estate Management Request: To approve a Fourth Lease Amendment Landlord: County of Cook Tenant: Amerco Real Estate Company Location: Adjacent to that real property commonly known as 801 South Harlem Avenue, Forest Park, Illinois Term/Extension Period: 9/1/2021 - 8/31/2026 Space Occupied: Approximately 6,846 square feet Monthly Rent: $950.00 with 3% annual escalations 9/1/2021 - 8/31/2022 $950.00 9/1/2022 - 8/31/2023 $979.00 9/1/2023 - 8/31/2024 $1,008.00 9/1/2024 - 8/31/2025 $1,038.00 9/1/2025 - 8/31/2026 $1,069.00 Fiscal Impact: $60,524 Revenue Generating Accounts: NA Option to Renew: NA Termination: Tenant may terminate with 90-day notice; Landlord may terminate with 30-day notice. Utilities Included: No Summary: The Tenant will continue to maintain and utilize the premises for parking and for no other purpose. Due to the proximity of the land to two arterial roadways, the vacant land ...
Indexes: JESSICA CAFFREY, Director, Real Estate Management Division

title

PROPOSED LEASE AMENDMENT

 

Department:  Department of Real Estate Management

 

Request:  To approve a Fourth Lease Amendment

 

Landlord:  County of Cook

 

Tenant:  Amerco Real Estate Company

 

Location:  Adjacent to that real property commonly known as 801 South Harlem Avenue, Forest Park, Illinois 

 

Term/Extension Period:  9/1/2021 - 8/31/2026

 

Space Occupied:  Approximately 6,846 square feet  

 

Monthly Rent: 

$950.00 with 3% annual escalations

9/1/2021 - 8/31/2022 $950.00

9/1/2022 - 8/31/2023 $979.00

9/1/2023 - 8/31/2024 $1,008.00

9/1/2024 - 8/31/2025 $1,038.00

9/1/2025 - 8/31/2026 $1,069.00

 

Fiscal Impact:  $60,524 Revenue Generating

 

Accounts:  NA 

 

Option to Renew:  NA

 

Termination:  Tenant may terminate with 90-day notice; Landlord may terminate with 30-day notice. 

 

Utilities Included:  No 

 

Summary: The Tenant will continue to maintain and utilize the premises for parking and for no other purpose. Due to the proximity of the land to two arterial roadways, the vacant land cannot be sold and is reserved for future road improvements.

end