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This record contains private information, which has been redacted from public viewing.
Record #: SO2019-302   
Type: Ordinance Status: Passed
Intro date: 1/23/2019 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 6/12/2019
Title: Authorization for office space lease agreement with North LaSalle Financial Associates LLC at 2 North LaSalle St
Sponsors: Emanuel, Rahm
Topic: AGREEMENTS - Lease
Attachments: 1. SO2019-302.pdf, 2. O2019-302.pdf, 3. SO2019-302 (V1).pdf
SUBSTITUTE

ORDINANCE

WHEREAS, the City of Chicago ("City") is a home rule unit of government by virtue of the provisions ofthe Constitution ofthe State of Illinois of 1970, and, as such, may exercise any power and perform any function pertaining to its government and affairs; and

WHEREAS, the City currently leases approximately 262,690 sq. ft. of office space at 30 N. LaSalle Street and approximately 169,246 sq. ft. of office space at 333 South State Street, Chicago, Illinois; and

WHEREAS, the City has an agreement with Jones Lang LaSalle Americas ("JLL") for the provision of various services, including brokerage services; and

WHEREAS, pursuant to a task order, the City's Department of Fleet and Facility Management ("DFFM") directed JLL to issue a request for proposals ("RFP") for the purpose of obtaining proposals for the lease of office space that may be more economical for the City to rent when compared to its existing leases for the above two (2) properties; and
WHEREAS, JLL received ten (10) proposals in response to the RFP; and

WHEREAS, JLL and DFFM has reviewed the proposals and determined that it is in the City's best interests to enter into a lease with North LaSalle Financial Associates, LLC, a Delaware limited liability company, for the lease of office space (City as tenant) located at 2 North LaSalle Street, Chicago, Illinois, subject to the terms set forth in Exhibit A attached hereto (the "Term Sheet"); now, therefore,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF CHICAGO:
SECTION 1. The foregoing recitals are hereby adopted as the findings of the City Council.
SECTION 2. The Commissioner of DFFM or any successor department ("Commissioner"), or a designee of the Commissioner, is each hereby authorized, with the approval of the City's Corporation Counsel as to form and legality, to negotiate, execute and deliver a lease for office space at 2 North LaSalle Street, Chicago, Illinois, substantially in the form attached hereto as Exhibit A, and su...

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