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PROPOSED LEASE AGREEMENT
Department: Legal Department
Request: Approval of lease for private office space
Landlord: Regus Oak Park, Oak Park, Illinois
Tenant: Forest Preserves of Cook County (the “Forest Preserves”)
Location: 1010 Lake Street, Oak Park, Illinois (#202 & #209)
Term/Extension Period: 8/1/2024 - 8/31/2024; with the option to extend until 12/31/2024 at the discretion of the General Superintendent.
Space Occupied: 216 sq ft
Monthly Rent: Total Monthly Cost: Not to exceed $3,000.00 (Base Rent $2,129.00 plus applicable taxes, fees, and any required deposits)
Fiscal Impact: Not to exceed $15,000.00
Accounts: Office Rental 51001.700823
Option to Renew: N/A
Termination: N/A
Utilities Included: Yes
District(s): N/A
Summary/Notes: In order to accommodate workspace for staff displaced by the temporary closure of the Forest Preserves’ general headquarters in River Forest, Illinois (“GHQ”) for renovations, the Forest Preserves is seeking to enter into a lease for up to five (5) months for private office space in Oak Park, Illinois with Regus Oak Park. Previously, the Forest Preserves entered into a lease for the same space pursuant to Board Item No. 23-0354, however, the current lease is set to expire on 7/31/2024. Final lease agreement is subject to legal review and approval.end