Specifications include, but are not limited to: 3.1 Type of property to be leased: The space shall be conditioned, warehouse space in a Class B+ property, or better. 3.2 Proposed use of the property: The property will house storage of dry goods, delicate medical supplies, and pharmaceuticals from the University of Illinois Hospital and UI Health-related departments. Space proximate to the existing warehouse location and UIC’s medical campus is required to maximize efficiencies related to UI Health’s materials and equipment handling and storage. 3.3 Lease description and terms: 3.3.1 Term: 10 years to commence on or around September 1, 2024, or upon Lessor’s completion of tenant improvements and Tenant’s installation of cabling and furniture, fixtures, and equipment. A one-time statutory right to terminate at the end of the 5th lease year shall be included. 3.3.2 Proposed lease terms: The lease proposal shall include all proposed financial terms and costs. The lease rate shall be quoted on a “gross” basis, and include any and all taxes, insurance, and operating expenses, common area charges, maintenance, repairs or any other Tenant charge exclusive of utilities where separately metered. An estimate of utility costs shall be provided. All costs to Tenant must be fully disclosed. 3.3.3 Tenant Improvements: To the extent that tenant improvements are required to the demised premises or common areas, such construction shall be performed by the Landlord to meet the needs of the Tenant, at the Landlord's expense. Upon award, the Landlord shall be required to provide a test “fit up” plan that will require the approval as a part of the lease process. The Landlord may submit the tenant improvement costs in whole or in part as “additional rent” in the proposal or as a part of the base rent. The level of tenant improvements required at the expense of the university and relocation costs, if any, will be factors in the selection of space. 3.3.4 Tenant Allowances and Incentives: Please propose the maximum tenant allowance and abatement package given the term length and needs set forth in Exhibit A. Tenant improvement allowance may be applied toward the payment of any expenses reasonably associated with its construction, including but not limited to: hard and soft costs, the purchase and installation of furniture and telephone & security systems, data wiring, cabling, architectural, engineering and design fees, moving costs, etc. Any unused portion of the tenant improvement allowance may be used, at Tenant’s election any time during the initial eighteen (18) months of the term, as further rent abatement.
