File #: 21-4794    Version: 1 Name: New Lease Agreement with Dr. James Vite for Parking in LaGrange Park
Type: Lease Agreement Status: Approved
File created: 8/23/2021 In control: Board of Commissioners
On agenda: 9/23/2021 Final action: 9/23/2021
Title: PROPOSED LEASE AGREEMENT Department: Department of Real Estate Management Request: To approve a New Lease Agreement Landlord: Cook County Tenant: Vite Veterinary Services, LLC Location: Adjacent to 905 E. 31st Street, LaGrange Park Term/Extension Period: 11/1/21 - 10/31/31; 10 years Space Occupied: Approximately 1,740 square feet Monthly Rent: $250.00 with 3% annual escalations Fiscal Impact: $34,391.64 Revenue Generating Accounts: Option to Renew: Three (3) consecutive, five (5) year terms Termination: County may terminate with thirty (30) days' prior written notice. Utilities Included: NA Summary/Notes: Vite Veterinary Services, LLC seeks to lease the vacant parcel for client and staff parking purposes. Due to the vacant parcel's location and vicinity to railroad, it is recommended that Cook County not dispose of the land for future expansion.
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:  Cook County

 

Tenant:  Vite Veterinary Services, LLC 

 

Location:  Adjacent to 905 E. 31st Street, LaGrange Park

 

Term/Extension Period:  11/1/21 - 10/31/31; 10 years

 

Space Occupied:  Approximately 1,740 square feet

 

Monthly Rent:  $250.00 with 3% annual escalations

 

Fiscal Impact:  $34,391.64 Revenue Generating

 

Accounts:  

 

Option to Renew:  Three (3) consecutive, five (5) year terms

 

Termination:  County may terminate with thirty (30) days’ prior written notice.

 

Utilities Included:  NA

 

Summary/Notes:  Vite Veterinary Services, LLC seeks to lease the vacant parcel for client and staff parking purposes.  Due to the vacant parcel’s location and vicinity to railroad, it is recommended that Cook County not dispose of the land for future expansion.

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