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25-4407
| 1 | | | Committee Minutes | COMMITTEE MINUTES
Approval of the minutes from the meeting of 10/22/2025 | | |
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25-4100
| 1 | | 1701 S. 1st Avenue in Maywood, IL Sale and Purchase Agreement | Miscellaneous Item of Business | PROPOSED MISCELLANEOUS ITEM OF BUSINESS
Department: Department of Real Estate Management
Summary: Requesting approval of a Purchase and Sale Agreement between Cook County and Klairmont Family Associates, LP., an Illinois limited partnership, that will allow the County to purchase 225,000 rentable square foot, 13 story property located at 1701 S. 1st Avenue in Maywood, IL.
In February of 2025, the Bureau of Finance (BOF) introduced the “Revenue Resiliency Initiative” (RRI), which was created to identify impactful opportunities that focus on (1.) Revenue Generation, (2.) Asset Maximization, and (3.) Cost Optimization. As a member of the RRI, the Bureau of Asset Management (BAM) has identified several opportunities at this property, and through its Department of Real Estate Management, has developed and would like to begin implementing its Real Estate Acquisition Strategy.
Primary Impact Factors:
· Using various appraisal methods, provides the opportunity to assess and leverage asset values
· Generates revenue from third-party leasehold interests
· Significantly | | |
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25-4101
| 1 | | 3250 N. Arlington Heights Road, Arlington Heights, IL Purchase and Sale Agreement | Miscellaneous Item of Business | PROPOSED MISCELLANEOUS ITEM OF BUSINESS
Department: Department of Real Estate Management
Summary: Requesting approval of a Purchase and Sale Agreement between Cook County and LW-Arlington, LLC that will allow the County to purchase 72,962 rentable square foot, single-story property located at 3250 N. Arlington Heights Road, Arlington Heights, Illinois.
In February of 2025, the Bureau of Finance (BOF) introduced the “Revenue Resiliency Initiative” (RRI), which was created to identify impactful opportunities that focus on (1.) Revenue Generation, (2.) Asset Maximization, and (3.) Cost Optimization. As a member of the RRI, the Bureau of Asset Management (BAM) has identified several opportunities at this property, and through its Department of Real Estate Management, has developed and would like to begin implementing its Real Estate Acquisition Strategy.
Primary Impact Factors:
· Using various appraisal methods, provides the opportunity to assess and leverage asset values
· Generates revenue from third-party leasehold interests
· Significantly reduces operating expens | | |
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