-Agenda Cover Memorandum Meeting ate: November 25, 2013 Meeting Type: Item Title: Action Requested: Staff Contact: lxi COW (Committee of the Whole) City Council Budget Workshop Parking Lot Lease Agreement 20 S. Fairview ~ Approval For discussion Feedback requested For your information Shawn Hamilton, City Manager Phone Number: 84 7-318-5205 Email Address: shamilto@parkridge.us Information: I have previously communicated to the Council that the parking lot the City leases at 20 S. Fairview was recently sold. The City leases the parking lot (57 spaces) sa commuter lot. The City needs to enter into a lease agreement with the new owner. The new owner is interested in entering into a lease under the same terms with the City. The City renews the spaces in this lot every November, and has notified the current permit holders of the recent sale and potential future development. The new owner is currently in the process of a potential development on the property, so the long term availability of this lot for commuter parking is unknown at this time. Recommendation: Authorize the Mayor to sign the lease agreement for the parking lot at 20 S. Fairview with 20 S. Fairview, LLC. Attachments: Newlease Previous lease Rev 03/01/2013
AGREEMENT FOR PARKING LOT LEASE The parties hereto, 20 SOUTH FAIRVIEW, LLC, P.O. Box 31374, Chicago, IL 60631 (lessor), and the City of Park Ridge, 505 Butler Place, Park Ridge, IL 60668, (Lessee), in consideration ofthe mutual covenants hereinafter set forth, agree as follows: 1. Lessor hereby leases to Lessee fifty-seven (57) spaces in the Lessor's parking lot, 20 S. Fairview Avenue in Park Ridge, IL. 2. Lessor understands that it is the intention of Lessee to sub-lease the parking spaces to commuters and employees in the nearby commercial areas, and agrees to such sub-leasing by Lessee. Lessee and the Lessee's sub-lessees shall enjoy exclusive use ofthe leased spaces between the hours of 5 AM and 6 PM daily. 3. Lessee shall place signs marking those parking spaces which are the subject of this lease agreement and which are reserved for the use ofthe Lessee's sub-lessees. 4. Lessee shall pay to Lessor, as rent, $380.00 per year for each parking space leased. Such rent shall be payable semi-annually on ecember 1, 2013 and June 1, 2014. 5. Lessee shall maintain in effect liability insurance coveing Lessee's use ofthe parking lot and naming Lessor as an additional named insured. A copy of said insurance policy will be made available to Lessor. 6. Lessor shall maintain the entire parking lot so as to make it continuously available to Lessee and Lessee's sub-leases, however, Lessee shall be responsible for all snow removal and application of snow 7. Policing ofthe lot shall be the responsibility ofthe Lessee. 8. The term of this lease shall be for six (6) months from the effective date hereof (ecember 1, 2013), with an automatic renewal for an additional six (6) months (June 1. 2013 through November 30, 2014). Either party may terminate the lease upon giving one (1) month written notice to the other party. 9. The effective date of this lease is ecember 1, 2013. 10. AGREE: Lessee City of Park Ridge, IL A Municipal Corporation Lessor 20 SOUTH FAIRVIEW, LLC P.O. Box 31374 By: avid Schmidt, Mayor ate: ate: \ I - 5" - l3
SCH REAL ESTATE LLC 19 N. Seminary Avenue Park Ridge Il 60068-3037 847-825-4630... wlsxrx@att.net October 20, 2013 To: Shawn Hamilton, City Manager City of Park Ridge Il From: William l. Scharringhausen, Managing Partner SCH Real Estate llc Re: Parking lot lease, 20 Fairview, Park Ridge Il Per our recent conversation, and the terms of paragraph 8 of the Agreement for Parking lot lease (see enclosed), you are hereby notified in writing of the termination of that lease with SCH REAl ESTATE, llc. The lot was sold, closing on October 17, 2013, to 20 SOUTH FAIRVIEW, llc, and a copy of the Assignment of Parking lot lease with the City of Park Ridge is enclosed.
ASSIGNMENT OF PARKING LOT LEASE The undersigned Seller hereby authorizes and directs the assignment and transfer of a certain Agreement for Parking Lot Lease made by and between Lessor, SCH REAL ESTATE, LLC, and Lessee, CITY OF PARK RIGE, IL, a Municipal Corporation to 20 South Fairview, LLC, for the property commonly!mown as 20 S. Fairview, Park Ridge, Illinois 60068. The undersigned Purchaser hereby accepts the Assignment ofthat certain Agreement for Parking Lot Lease by and between Lessor, SCH REAL ESTATE, LLC, and Lessee, CITY OF PARK RIGE, IL, a Municipal Corporation for the property commonly known as 20 S. Fairview, Park Ridge, Illinois 60068. ated this 17th day of October, 2013. Seller: SCH REAL ESTATE, LLC Purchaser: 20 SOUTH FAIRVIEW, LLC
AGRE~T FOR PARKING LOT LEASE The parties hereto, SCH REAL ESTATE, LLC, 19 N. Seminary Avenue, Park Ridge, IL, 60068 (Lessor), and the City of Pari~ Ridge, 505 Butler Place, Pari\ Ridge, IL, 60068, (Lessee), in consideratio_n of the mutual covenants hereinafter set forth, agree as follows: 1. Lessor hereby leases to Lessee fifty-seven (57) spaces in Lessor's parking lot, 20 S. Fairview Avenue in Park Ridge~ IL. 2. Lessor understands that it is the intention of Lessee to sub-lease the parking spaces to commuters and employees in the nearby commercial areas, and agrees to such sub-leasing by Lessee. Lessee and Lessee's sub-lessees shall enjoy exclusive use of the leased spaces between the hours of SAM and 6PM, daily. 3. Lessee shall place signs marking those parking spaces which are~lhe subject of this lease agreement and which are reserved for the use of Lessee's sub-lessees. 4. Lessee shall pay to Lessor, as rent, $360. per year for each parking space leased. Such rent shall be payable semi-annually on June 1 and ecember 1, 2013. 5. Lessee shall maintain in effect liability insurance covering Lessee's use of the parking lot and naming Lessor as an additional named insured. A copy of said insuranc8 policy will be made available to Lessor. 6. Lessor shall maintain the entire parking lot so as to make it continuously available to Lessee and Lessee's sub-lessees, however, Lessee shall be responsible for snow removal and application of snow and ice melting materials whenever necessary. 7. Policing of the lot shall be the responsibility of the Lessee. 8. The term of this lease shall be for six (6) months from the effective date hereof (June 1, 2013), witll an automatic renewal for an additional six (6) months (ec 1, 2013 through May 31, 2014). Either party may terminate the lease upon giving one (1) month written notice to the other party. 9. The effective date of this lease is June 1, 2013. 10. AGREE: ate 5_~_;_~_-:<._o_/.:_3