File #: 24-2662    Version: 1 Name: 715 W. Maxwell St. Lease Amendment
Type: Lease Agreement Amendment Status: In Committee
File created: 4/10/2024 In control: Asset Management Committee
On agenda: 4/18/2024 Final action:
Title: PROPOSED LEASE AMENDMENT Department: Department of Real Estate Management Request: Request to Approve Second Amendment to Lease Agreement Landlord: Trustees of University of Illinois, a body politic and corporate Tenant: County of Cook, a body politic and corporate, on behalf of Cook County State's Attorney's Office Location: Spaces 26.2 and 26.4 - 715 W. Maxwell St., Chicago, Illinois Term/Extension Period: 6/1/2024 - 5/31/2025 Space Occupied: Approximately 1,179 Square Feet Monthly Rent: $2,500.00 Fiscal Impact: $30,000.00 (total renewal term) Accounts: 11100.1250.14245.550130.00000.00000 Option to Renew: One (1) remaining one (1) year renewal option Termination: County may terminate with 60 days' notice. Utilities Included: Yes Summary: Requesting approval to exercise a renewal option contained in the Second Amendment (approved 5/25/2023) to an IGA License with Board of Trustees of University of Illinois, a body politic and corporate, a...
Indexes: QUINCE BRINKLEY, Director, Real Estate Management

title

PROPOSED LEASE AMENDMENT

 

Department:  Department of Real Estate Management 

 

Request:  Request to Approve Second Amendment to Lease Agreement 

 

Landlord:  Trustees of University of Illinois, a body politic and corporate 

 

Tenant:  County of Cook, a body politic and corporate, on behalf of Cook County State’s Attorney’s Office

 

Location:  Spaces 26.2 and 26.4 - 715 W. Maxwell St., Chicago, Illinois  

 

Term/Extension Period:  6/1/2024 - 5/31/2025   

 

Space Occupied:  Approximately 1,179 Square Feet

 

Monthly Rent:  $2,500.00

 

Fiscal Impact:  $30,000.00 (total renewal term)

 

Accounts:  11100.1250.14245.550130.00000.00000 

 

Option to Renew:  One (1) remaining one (1) year renewal option

 

Termination:  County may terminate with 60 days’ notice. 

 

Utilities Included:  Yes

 

Summary: Requesting approval to exercise a renewal option contained in the Second Amendment (approved 5/25/2023) to an IGA License with Board of Trustees of University of Illinois, a body politic and corporate, as Landlord, and County of Cook, a body politic and corporate, on behalf of the Cook County State’s Attorney’s Office as Tenant, for the use of approximately 1,179 sq. ft. of building area known as Spaces 26.2 and 26.4 of the building located at 715 W. Maxwell St., Chicago, IL.

 

The space will be used for operations of the State’s Attorney’s Office Community Justice Center.

end