2IL0429: JOFOC Redacted

Summary (Newest Update)

Background The U.S. General Services Administration (GSA) is seeking approval to negotiate a superseding lease for office space currently leased at 175 West Jackson Boulevard, Chicago, IL. The existing lease, which encompasses 58,996 ABOA and 68,199 rentable square feet, is set to expire on March 6, 2027. The justification for this action stems from the need for continued occupancy at this location without engaging in full and open competition. Work Details The requirement involves leasing 68,199 rentable square feet of office and related space for a term of 15 years commencing on March 7, 2027. The delineated area for the lease includes: - North: Wacker Drive - South: Van Buren - East: State Street - West: Wacker Drive. The justification cites that there is no vacant Federal Space available and emphasizes that relocating to another lessor would incur significant costs that would not be recovered through competition. The incumbent lessor's rates are considered competitive within the market, with additional benefits such as two years of free rent and tenant improvement credits. Period of Performance The contract is set to commence on March 7, 2027, and will last for a duration of 15 years. Place of Performance 175 West Jackson Boulevard, Chicago, IL