Description
The State of Illinois is seeking to lease office space in Springfield, IL. The lease will be for an initial term of 5 years, with the option to renew for an additional 5 years. The total award amount for the lease is $1,149,751.32. The successful vendor will be required to provide 8,156 square feet of office space. The contract was awarded to Joyner Real Estate, LLC.
• The lease term is from 04/01/2026 to 03/31/2031, with a renewal term from 04/01/2031 to 03/31/2036.
• The total award amount is $1,149,751.32.
• The contract was awarded through the request for information for leasing process.
• The contract is in accordance with 30 ILCS 500/40-20.
• The property is less than 10,000 square feet with a rent of less than $200,000 per year.
• The duration of the lease is less than one year, but it can be renewed.
• The space is only available at one location.
• The extension is determined to be in the best interest of the state.
• The renewal is in accordance with the terms of the existing contract.