TRANSMITTAL LETTER FOR BOARD MEETING OF JULY 14, 2022
COMMITTEE ON REAL ESTATE
Mr. Brian A. Perkovich, Executive Director
Title
Authority to commence statutory procedures to lease approximately 4,397 square feet of District real estate located at Irving Park Road and Long Meadow Lane in Hanover Park, Illinois.
Body
Dear Sir:
U.S. Bank National Association (“US Bank”) has requested to continue leasing approximately 4,397 square feet of District real estate located at Irving Park Road and Long Meadow Lane in Hanover Park, Illinois. US Bank currently leases the site for use as a drive-through teller lane for its adjacent full-service branch office. US Bank intends to continue using the site for this purpose. The lease expires November 30, 2022. The requested lease term is 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 that they have no technical objections thereto. The Village of Hanover Park 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 4,397 square feet of District real estate located at Irving Park Road and Long Meadow Lane in Hanover Park, Illinois, 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 July 14, 2022
Attachments