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This record contains private information, which has been redacted from public viewing.
Record #: SO2017-8970   
Type: Ordinance Status: Passed
Intro date: 12/13/2017 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 1/17/2018
Title: Lease agreement with Taylor Street LA LLC for use of building space at 1336 W Taylor St as Chicago Public Library Roosevelt branch
Sponsors: Emanuel, Rahm
Topic: PROPERTY - Lease
Attachments: 1. SO2017-8970.pdf, 2. O2017-8970.pdf
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, and such other supporting documents as may be necessary or appropriate to carry out and comply with the provisions of the Lease (including, but not limited to, a subordination non-disturbance and attornment agreement), with Taylor Street LA, LLC, as Landlord, for use of building space located at 1336 West Taylor Street by the Chicago Public Library as the Roosevelt Branch Library; such Lease to be approved by the Commissioner of the Chicago Public Library, the President of the Chicago Public Library Board of Directors, and approved as to form and legality by the Corporation Counsel in substantially the following form:
1340 West Taylor Street
Chicago Public Library - Roosevelt Branch

SECTiON 2: This Ordinance shall be effective from and after the date of its passage and approval.
LEASE

THIS LEASE is made and entered into on or as of this day of ,
2018 (the "Commencement Date"), by and between TAYLOR STREET LA LLC, an Illinois limited liability company, with a principal place of business located at 2 North LaSalle Street, Suite 2300, Chicago, Illinois 60602 (hereinafter referred to as "Landlord") and the CITY OF CHICAGO, an Illinois municipal corporation and home rule unit of government (hereinafter referred to as "City" or "Tenant").

RECITALS

WHEREAS, Landlord is the owner of the real property more commonly known as 1336 West Taylor Street, Chicago, Cook County, Illinois (the "Property"); and

WHEREAS, Landlord has agreed to lease to Tenant, and Tenant has agreed to lease from Landlord (a) approximately 14,415 square feet of space in the building (the "Building") to be developed at 1336 West Taylor Street, which space is to be used by the Chicago Public Library as its Taylor Street Branch Library, and (b) nine (9) on-site...

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