TRANSMITTAL LETTER FOR BOARD MEETING OF JUNE 1, 2023
COMMITTEE ON REAL ESTATE
Mr. Brian A. Perkovich, Executive Director
Title
Authority to enter into a 50-year lease with the Chicago Board of Education for the use of 1.62± acres of District real estate located south of Bryn Mawr Avenue along the west side of the North Shore Channel in Chicago, Illinois, commonly known as North Shore Channel Parcels 9.16 (portion) and 9.17, for academic and physical education purposes, including the development of a new soccer field for Northside College Preparatory High School. Consideration shall be a nominal fee of $10.00
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Dear Sir:
The Chicago Board of Education (“CBOE”) has requested a 50-year lease of 1.62± acres of District real estate located south of Bryn Mawr Avenue along the west side of the North Shore Channel in Chicago, Illinois, commonly known as North Shore Channel (“NSC”) Parcels 9.16 (portion) and 9.17, for academic and physical education purposes, including the development of a new soccer field for Northside College Preparatory High School.
CBOE is planning to expand and improve the high school’s existing sports field, which is located on property owned by the City of Chicago (“City”) adjacent to District NSC Parcels 9.16 and 9.17. The improvements to be placed on District property include artificial turf, sports netting, lighting, and chain link fencing in connection with the adjacent soccer field.
The City currently has an easement on NSC Parcel 9.16 for ecosystem restoration and a public trail that commenced February 25, 2000, and expires February 24, 2050. CBOE has already received the City’s consent for the proposed lease on the portion of NSC Parcel 9.16, which encompasses a 15’ wide unused section of the City’s easement area. The City’s ongoing maintenance of the easement area will not be impacted by the lease to CBOE.
The technical departments have reviewed this lease request and have no objections thereto. A nominal fee of $10.00 is recommended, as CBOE is a governmental entity utilizing the property in furtherance of academic and physical education purposes. In the event revenues or profits are ever derived from the leasehold, the lease will contain a provision requiring rent to be an additional annual fee of 25% of the net profits derived from the site.
It is requested that the Executive Director recommend to the Board of Commissioners that it authorize the District to enter into a 50-year lease with the Chicago Board of Education for the use of 1.62± acres of District real estate located south of Bryn Mawr Avenue along the west side of the North Shore Channel in Chicago, Illinois, commonly known as North Shore Channel Parcels 9.16 (portion) and 9.17, for academic and physical education purposes, including the development of a new soccer field for Northside College Preparatory High School. Consideration shall be a nominal fee of $10.00.
It is further 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 said lease agreement after it is approved by the General Counsel as to form and legality.
Requested, Susan T. Morakalis, General Counsel, STM:BJD:NOC:nl
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 June 1, 2023
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