OFFICE OF THE MAYOR
CITY OF CHICAGO
LORI E. LIGHTFOOT MAYOR
December 14, 2022
TO THE HONORABLE, THE CITY COUNCIL OF THE CITY OF CHICAGO
Ladies and Gentlemen:
At the request of the Commissioner of Assets, Information and Services, I transmit herewith an ordinance authorizing the execution of a lease agreement with Cumberland Acquisition LLC.
Your favorable consideration ofthis ordinance will be appreciated.
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, Cumberland Acquisition LLC, an Illinois limited liability company ("Landlord"), is the owner of the real property known as Cumberland Centre, which is improved with two (2) multi-story office buildings with addresses of 5440 N. Cumberland Avenue (the "5440 Building") and 5450 N. Cumberland Avenue, Chicago, Illinois (together, the "Buildings"); and
WHEREAS, the Buildings contain, in the aggregate, 290,843 rentable square feet; and
WHEREAS, the 5440 Building is a 3-story office building; and
WHEREAS, Landlord is marketing suite 250 of the 5440 Building as available for lease, which suite contains approximately 6,711 rentable square feet (the "Premises"); and
WHEREAS, the City desires to lease office space and has determined that the Premises will be suitable for the City's use upon completion on certain desired improvements to the space; 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 the Department of Assets, Information and Services or any successor department (the "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, t...
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