MCP Uptown Owner LLCNormal, IL
Unsuccessful respondents (0)
Buyer for this procurement: Nick Mullins, (309) 438-1946
Chief procurement officer for this procurement: Ben Bagby
State purchasing officer for this procurement: John Knittle
Comments:
Award. The posted award amount includes base rent ($1,403,617) combined with estimated operational expenses ($753,011) the University will be responsible for as part of a triple net lease arrangement. These expenses include common area maintenance, property tax, utilities, and janitorial & maintenance.
Renewal Options. The RFI submittal includes an option after the initial term for a separate and additional 4,172 SF lease estimated at $596,921 over a five-year term. This estimated cost includes base rent ($377,111) combined with estimated operational expenses ($219,810) the University would be responsible for as part of a triple net lease arrangement. The 2nd renewal option is for 32 months (2 years, 8 months).
The University award process may be delayed up to thirty days as this award goes through a state approval process.
See attached document: ER072618Addendum01.docx
See attached file: ER072618StateRequirementsReminder.docx
The University wishes to lease approximately 30,000 net useable square feet located at Normal, IL for a period of 10 years. This property will be used for administrative office space.
This transaction is subject to the State Board of Elections registration and certification requirements of Public Act 095-0971.
The State of Illinois has a policy to encourage prospective vendors to hire qualified veterans, minorities, females, persons with disabilities and ex-offenders.