TRANSMITTAL LETTER FOR BOARD MEETING OF SEPTEMBER 15, 2022
COMMITTEE ON REAL ESTATE
Mr. Brian A. Perkovich, Executive Director
Title
Authority to commence statutory procedures to lease approximately 6,123± square feet of District real estate located along the North Branch of the Chicago River adjacent to 4020 North Rockwell Street in Chicago, known as North Shore Channel Parcel 10.05.
Body
Dear Sir:
Albany, Inc (“Albany”) has requested to continue leasing 6,123± square feet of District real estate located along the North Branch of the Chicago River adjacent to 4020 North Rockwell Street in Chicago, known as North Shore Channel Parcel 10.05. Albany currently leases the site for the storage of boats, seasonal dock rental, and related uses. The lease expires April 30, 2024. If it is the successful bidder, Albany intends to continue the same use. The requested lease term is ten (10) years.
The District’s technical departments have reviewed this lease request and have indicated that the subject site is not currently needed for corporate use, and they have no technical objections thereto. The Alderman of the 47th Ward of the City of Chicago has expressed support for the proposed use.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize and direct the General Counsel to commence statutory procedures to lease approximately 6,123± square feet of District real estate located along the North Branch of the Chicago River adjacent to 4020 North Rockwell Street in Chicago, known as North Shore Channel Parcel 10.05, upon the terms and conditions set forth herein.
Requested, Susan T. Morakalis, General Counsel, STM:MTC:NOC:vp
Recommended, Brian A. Perkovich, Executive Director
Disposition of this agenda item will be documented in the official Regular Board Meeting Minutes of the Board of Commissioners for September 15, 2022
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