Share to Facebook Share to Twitter Bookmark and Share
This record contains private information, which has been redacted from public viewing.
Record #: SO2021-5293   
Type: Ordinance Status: Passed
Intro date: 11/17/2021 Current Controlling Legislative Body: Committee on Housing and Real Estate
Final action: 12/15/2021
Title: Lease agreement with Hastings Center Office LLC for use of office space at 1340 S Damen Ave
Sponsors: Lightfoot, Lori E.
Topic: AGREEMENTS - Lease
Attachments: 1. SO2021-5293, 2. SO2021-5293.pdf, 3. O2021-5293.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 Assets, Information & Services is authorized to execute a Lease Agreement (No. 10086) with Hastings Center Office, LLC, as Landlord, for the use of office space in Suite 400 of the building located at 1340 South Damen Avenue; such Lease to be approved by the Department of Public Health, and, as to form and legality, by the Corporation Counsel, in substantially the following form:
1340 S. Damen Ave. Lease No. 10086
SECTION 2: This Ordinance shall be effective from and after the date of its passage and approval.
LEASE NO. 100S6

LEASE

THIS LEASE (the "Lease") is made and entered into this day of
, 2021, by and between HASTINGS CENTER OFFICE, LLC, an Illinois
limited liability company (hereinafter referred to as "Landlord") and the CITY OF CHICAGO, an Illinois municipal corporation (hereinafter referred to as "Tenant").

RECITALS

WHEREAS, Landlord is the owner of the real property with a common address of 1340 South Damen Avenue including the adjacent parking lot and land (PINs 17-19-115-002 / -004 / -006; 17-114-052/053/055), Chicago, Cook County, Illinois (the "Property"), which is improved with a 4-story building; and

WHEREAS, Suite 400 of the Property, consisting of 40,188 rentable square feet of office space located on the 4th floor, is currently leased to a division of Cigna (a healthcare and health insurance company); and

WHEREAS, Cigna does not intend on continuing its operations at the Property and intends on terminating its lease upon Landlord securing another tenant for Suite 400; and

WHEREAS, Landlord is marketing Suite 400 ofthe Property as available for lease, subject to termination of Cigna's lease; and

WHEREAS, Tenant desires to lease office space within close proximity to the Illinois Medical District for use by its Department of Public Health, and has determined ...

Click here for full text