TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 4, 2026
COMMITTEE ON PROCUREMENT
Mr. John P. Murray, Executive Director
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Authorization to accept initial annual rental bid for Contract 26-361-11 Proposal to Lease approximately 860 sq. ft. of District real estate located at 100 E. Erie Street in Chicago, Illinois, for a 10-year term from Credit Union 1 in the amount of $8,600.00
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Dear Sir:
At its meeting of February 5, 2026, the Board of Commissioners authorized the Director of Procurement and Materials Management to advertise Contract 26-361-11 Proposal to Lease approximately 860 sq. ft. of District real estate located at 100 E. Erie Street in Chicago, Illinois, for a 10-year term. The minimum acceptable annual rental bid was established at $8,600.00.
At the April 28, 2026, bid opening, the sole bid was received from Credit Union 1 (“CU1”) with an initial annual rental bid of $8,600.00. CU1 will use the premises to provide financial services for District employees after it completes its merger with the MWRD Employees’ Credit Union later this summer.
The District’s Finance Department and Law Department have reviewed CU1’s company background and financial history and determined that it demonstrates the ability to meet its financial obligations under the proposed lease.
It is requested that the Executive Director recommend to the Board of Commissioners that it accept the initial annual rental bid for Contract 26-361-11 Proposal to Lease approximately 860 sq. ft. of District real estate located at 100 E. Erie Street in Chicago, Illinois, for a 10-year term from Credit Union 1 in the amount of $8,600.00.
It is also requested that the Executive Director recommend to the Board of Commissioners that it authorize and direct the Chairman of the Committee on Finance and the Clerk to execute the lease agreement after it has been approved by the General Counsel as to form and legality.
Requested, Susan T. Morakalis, General Counsel, STM:BJD:NOC:nl
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 June 4, 2026
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