Office of the City Clerk - Record #: O2017-8971

• Record #: O2017-8971
• 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 Independence Apartments, LP for use of building space at 4022 N Elston Ave by Chicago Public Library as Independence Branch Library
• Sponsors: Emanuel, Rahm
• Topic: AGREEMENTS - Lease

Date	Journal Page Number	Action By	Action	Result
1/24/2018		Office of the Mayor	Signed by Mayor
1/17/2018	65098	City Council	Passed	Pass
1/12/2018		Committee on Housing and Real Estate	Recommended to Pass
12/13/2017	62773	City Council	Referred

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 Independence Apartments, LP, as Landlord, for use of building space located at 4022 North Elston Avenue by the Chicago Public Library as the Independence Branch Library; such Lease to be approved by the Commissioner ofthe 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:
4022 North Elston Avenue
Chicago Public Library - Independence Branch

SECTION 2: This Ordinance shall be effective from and after the date of its passage and approval.
LEASE NO.


LEASE

THIS LEASE is made and entered into this day of December, 2017 (the
"Commencement Date"), by and between INDEPENDENCE APARTMENTS LP, an Illinois limited partnership, with a principal place of business located at 566 W. Lake Street, Suite 400, Chicago, Illinois 60661 (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 leasehold estate generally located at as 4022-4036 North Elston Avenue, 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 16,950 square feet of commercial space in the Building to be developed at the Property, which space is to be used by the Chicago Public Library as its Independence Branch Library (the "Library"), and (b) a...