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PROPOSED LEASE AGREEMENT
Department: Department of Real Estate Management
Request: Approval to enter into a lease agreement.
Landlord: Westside Health Authority
Tenant: Cook County Health
Location: 4800 W. Chicago Avenue, Chicago, Illinois 60651
Term/Extension Period: 7/23/2024 - 7/22/2029
Space Occupied: 13,790 SF
Monthly Rent: 7/23/2024 - 7/22/2025, $42,908.01. 7/23/2025 - 7/22/2026, $43,771.38. 7/23/2026 - 7/22/2027, $44,654.29. 7/23/2027 - 7/22/2028, $45,557.24. 7/23/2028 - 7/22/2029, $46,480.72
Fiscal Impact: $2,680,459.70
Accounts: 41215.4893.10700.550130.00000.00000
Option to Renew: Option to renew for two (2) five (5) year terms, with a 2% annual base rent escalations per Board Approval
Termination: N/A
Utilities Included: Yes for electricity and natural gas, no for water
Summary/Notes: Cook County Health (CCH) uses the premises for the purpose of providing medical services to the public and for ancillary office and storage purposes. Landlord will provide a $75,000.00 tenant improvement allowance for paint, carpet, and miscellaneous cosmetic improvements.
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