TRANSMITTAL LETTER FOR BOARD MEETING OF FEBRUARY 5, 2026
COMMITTEE ON PROCUREMENT
Mr. John P. Murray, Executive Director
Title
Authority to advertise Contract 26-362-11 for public tender of bids a 10-year lease on approximately 525 sq. ft. of District real estate located at 6001 W. Pershing Road in Cicero, Illinois. The minimum initial annual rental bid shall be established at $5,000.00
Body
Dear Sir:
The MWRD Employees’ Credit Union (“MWRDECU”) has occupied office space at the Stickney Water Reclamation Plant (“Stickney WRP”) since 2002. The MWRDECU is a separate legal entity from the District that was established under the Illinois Credit Union Act and is regulated by the Illinois Department of Professional and Financial Regulation.
MWRDECU is in the final stages of a merger with Credit Union 1 (“CU1”), which is a credit union with a nationwide network. MWRDECU has indicated that the merger will enable CU1 to continue providing high quality financial services to District employees in the credit union. The merger is anticipated to be finalized in June 2026.
To continue serving District employees at the Stickney WRP location, CU1 has requested to lease the office space currently occupied by MWRDECU once the merger is finalized. The use of the premises will be limited specifically to financial services for District employees because the office space is part of the Stickney WRP, and the use must be compatible with District operations and site security. Pursuant to statute, the lead applicant submitted two appraisals, and the Law Department obtained a third review appraisal, as follows:
Appraiser Value
CBRE, Inc. $25,000.00
Chad Bosley, MAI
Newmark Valuation & Advisory $5,000.00
John Hereford, MAI
CohnReznick $25,000.00
Patricia L. McGarr, MAI
(District’s Appraiser)
It is recommended that the subject real estate’s fair market value be based upon the highest of the appraisals and established at $25,000.00, and that the minimum annual rental bid be established at $5,000.00, as the pro rata share of 10% of the fair market value of the land would yield a fee less than the District's minimum annual rent of $5,000.00.
It is further requested that the Executive Director recommend to the Board of Commissioners that it authorize and approve the following orders:
1. The real estate, which comprises 525± sq. ft. of District land located at 6001 W. Pershing Road in Cicero, Illinois, is not currently needed for the District’s corporate purpose and is available for lease.
2. The fair market value of the subject real estate is established at $25,000.00.
3. The Director of Procurement and Materials Management is authorized to advertise the subject real estate as available for lease for a 10-year term at the minimum initial annual rental bid of $5,000.00 and report the results of the bidding to the Board of Commissioners for further action.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize the Director of Procurement and Materials Management to advertise Contract 26-362-11 for public tender of bids a 10-year lease on approximately 525 sq. ft. of District real estate located at 6001 W. Pershing Road in Cicero, Illinois. The minimum initial annual rental bid shall be established at $5,000.00.
Requested, Susan T. Morakalis, General Counsel, STM:BJD:NOC:vp
Recommended, Darlene A. LoCascio, Director of Procurement and Materials Management
Respectfully Submitted, Precious Brady-Davis, Chairperson, Committee on Procurement
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for February 5, 2026
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