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Public Higher Education Bulletin

 
Illinois State University
RFI #ER072618

Request for Information: Real Property Lease

Award Info Published Thursday January 23, 2020
Awarded to:
Lessor: MCP Uptown Owner LLC, Normal, IL
Address of Leased Space: 100 S Fell Ave, Normal, Illinois
Size of Leased Space: 31,327 SF (plus 4,172 SF option at renewal)
Amount: An estimated $2,156,628
Terms:   Multi-year transaction
Lease Begin Date: 6/1/2020
Lease End Date: 9/30/2022
Duration: 28 months
Renewals:
1 five-year, then 1 two-year
Potential Future Renewals: $11,082,966
Number of unsuccessful, responsive bidders: 0
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 buyer for this procurement is now Nick Mullins, (309) 438-1946.
The University award process may be delayed up to thirty days as this award goes through a state approval process.
This notice has been modified
Published Monday July 16, 2018
The RFI opening date has been changed to August 2, 2018.

See attached document: ER072618Addendum01.docx

This notice has been modified
Published Tuesday June 26, 2018
This modification is to remind vendors about the State of Illinois requirements for submitting a proposal.

See attached file: ER072618StateRequirementsReminder.docx

First published Wednesday, June 13, 2018
Responses will be accepted below until 3:00 PM, Thursday August 2, 2018:
At the following address:
Purchasing Office
Illinois State University at Uptown Crossing
1220 Campus Box
100 South Fell Avenue, Suite D
Normal, IL 61790

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.

The University wishes to lease contiguous office space beginning on 5/30/20 located within 1/2 mile walking distance to the center of the campus. The University is also seeking an option for an additional estimated 4,000 square feet to begin on 10/1/22. The property will house 6 to 7 separate University functional administrative groups.

For instructions on how to obtain a comprehensive purchase description, disclosure or contract forms, contact:
Ernest Olson
Purchasing Office
Illinois State University at Uptown Crossing
1220 Campus Box
100 South Fell Avenue, Suite D
Normal, IL 61790-1220
Phone: (309) 438-1946
FAX: (309) 438-5555
State Purchasing Officer - John Knittle

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.

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To obtain documents, log on:
Specification Documents
  • ER072618.docx (834 KB)
  • ER072618Addendum01.docx (37 KB)
  • ER072618StateRequirementsReminder.docx (15 KB)
Public Opening Documents
  • ER072618_Bid_Tab.pdf (26 KB)