County commission agenda item matching detention pipeline keywords.

Meeting: Board of Commissioners Date: 2025-10-23 Agenda Item: PROPOSED SUBSTITUTE TO FILE #25-4101 (Asset Management Committee 11/18/2025) - Issued on: 11/18/2025

Department: Department of Real Estate Management

Summary: Requesting approval of a Purchase and Sale Agreement between Cook County and LWArlington,

LLC that will allow the County to purchase 72,962 rentable square foot, single-story property located at 3250 N. Arlington Heights Road, Arlington Heights, Illinois.

CCH desires to extend its current 24,948 rentable square foot lease, by seven (7) years, allowing it to continue its healthcare operations, through April 30, 2033; additionally, CCH wants to expand its space by 2,430 rentable square feet, totaling 27,378 rentable square feet and an occupancy rate of 37.52%, to begin offering imaging services, effective April 1, 2026.

DREM performed an analysis of three (3) scenarios: (1.) Current Lease, (2.) Extension and expansion, and (3) Purchase, over a ten (10) year term, to determine the Net Present Value (NPV) of each scenario, outlined as follows:

Net Present Value Calculations (Ten (10) year hold period): NPV, Current Lease (24,948 rsf): $2,265,723

NPV, Extension & Expansion (27,378 rsf): $5,325,513

NPV, Purchase: $1,816,096

Determination: $3,509,417 less than lease option

Appraisal Values: ($7,200,000 and $8,630,000)

The details are as follows:

Seller: LW-Arlington, LLC Purchaser: County of Cook Location: 3250 N. Arlington Heights Road, Arlington Heights, Illinois Fiscal Impact: $7,685,000.00 (including closing costs and commissions) Account String: 11569.1031.11190.560305.00000.00000 (Capital Improvement Program)

Upon Board approval of the proposed Purchase and Exchange Agreement, the approval shall include the following authorizations:

(i) For the Real Estate Director to execute any and all notices; and

(ii) For the President or the Real Estate Director to execute any and all documents and instruments and to take such other action, as may be necessary to effectuate the purchase of the property.

(iii) For the Comptroller to pay the agreed upon purchase price, per the purchase and sale agreement, as well as any fees/closing costs that are outlined in the purchase and sale agreement.

Matched keywords: real estate.*(?:acquisition|purchase|federal)

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