Office of the City Clerk - Record #: SO2015-4676

• Record #: SO2015-4676
• Type: Ordinance
• Status: Passed
• Intro date: 6/17/2015
• Current Controlling Legislative Body: Committee on Housing and Real Estate
• Final action: 7/29/2015
• Title: Renewal of lease agreement with Vanguard Archives Holdings, Inc. for storage space and indoor parking at 3920 S Michigan Ave by Chicago Police Department
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Lease

Date	Journal Page Number	Action By	Action	Result
7/29/2015	3614	City Council	Passed as Substitute	Pass
7/27/2015		Committee on Housing and Real Estate	Recommended to Pass	Pass
6/17/2015	499	City Council	Referred

SUBSTITUTE

ORDINANCE


BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:


SECTION 1: On behalf of the City of Chicago as Tenant, the Commissioner of the Department of Fleet and Facility Management is authorized to execute a Lease with Vanguard Archives Holdings, Inc., as Landlord, for use of approximately 65,240 square feet of storage space and 4,200 square feet for indoor parking (2 bays) located at 3920 S. Michigan Avenue by the Chicago Police Department, as Tenant; such Lease to be approved by the Superintendent of the Department of Police, and approved as to form and legality by the Corporation Counsel in substantially the following form:
LEASE NO. 12048

LEASE

THIS LEASE is entered into this day of , 2015, by and between
VANGUARD ARCHIVES HOLDINGS, INC., an Illinois corporation (hereinafter referred to as "Landlord") and the CITY OF CHICAGO, an Illinois municipal corporation (hereinafter referred to as "Tenant" or "City").

RECITALS
WHEREAS, Landlord is the owner of the real property more commonly known as 3920 South Michigan Avenue, Chicago, Cook County, Illinois; and

WHEREAS, Landlord has agreed to lease to Tenant and Tenant has agreed to lease from Landlord approximately 69,440 square feet of storage space and indoor parking located at 3920 South Michigan Avenue.

NOW THEREFORE, in consideration ofthe covenants, terms and conditions set forth herein, the parties agree and covenant as follows:

SECTION 1. GRANT

Landlord hereby leases to Tenant the following described premises ("Premises") situated in the City of Chicago, County of Cook, State of Illinois, to wit:

Approximately 65,240 square feet of storage space and 4,200 square feet for indoor parking (2 bays) all located on that certain parcel of real estate more commonly known as 3920 South Michigan Avenue, Chicago, Illinois.

The Permanent Real Estate Tax Number (PIN) for the real estate for which the Premises is located, as assigned by the Cook County Assessor's Office is 20-03-10...