2023-10-16 - Ordinance 2023-121 - AUTHORIZING THE VILLAGE MANAGER TO EXECUTE AN EXTENSION TO THE LISTING AGREEMENT RELATED TO 1650 LEIDER LANE ORDINANCE NO. 2023-121
AN ORDINANCE AUTHORIZING THE VILLAGE MANAGER TO EXECUTE AN EXTENSION TO THE LISTING
AGREEMENT RELATED TO 1650 LEIDER LANE
WHEREAS,the Village of Buffalo Grove is a home rule unit pursuant to the Illinois Constitution of
1970; and
WHEREAS, the Village of Buffalo Grove has purchased an existing 173,000 square foot industrial
building located at 1650 Leider Lane (the "Building")for a new Public Works facility; and
WHEREAS, the Village of Buffalo Grove has determined that approximately 43,000 square feet
(the "Leasable Space") of the existing Building may be suitable for an additional user; and
WHEREAS, the Village of Buffalo Grove approved Ordinance 2022-120 authorizing the Village
Manager to execute a listing agreement ("Listing Agreement") with Colliers International ("Colliers") in
connection with marketing and listing of the Leasable Space at 1650 Leider Lane; and,
WHEREAS, the Listing Agreement with Colliers is set to expire, and the Village of Buffalo Grove
wishes to extend the Listing Agreement another 6-months.
NOW THEREFORE, BE IT ORDAINED BY THE PRESIDENT AND BOARD OF TRUSTEES OF THE
VILLAGE OF BUFFALO GROVE, COOK AND LAKE COUNTIES, ILLINOIS, as follows:
SECTION 1. The foregoing recitals are hereby adopted and incorporated and made a part ofthis Ordinance
as if fully set forth herein.
SECTION 2.The Village Manager is authorized to execute the 6-month extension of the Listing Agreement,
attached hereto as Exhibit A, for the marketing and listing of the Leasable Space at 1650 Leider Lane,
subject to the final approval of the Village Attorney. The Village Manager is also authorized to execute
one (1) additional extension of 6-months.
SECTION 3. If any section, paragraph, clause or provision of this Ordinance shall be held invalid, the
invalidity thereof shall not affect any other provision of this Ordinance.
SECTION 4. This Ordinance shall be in full force and effect from and after its passage and approval and
not be codified.
AYES: 5—Cesario,Ottenheimer.Stein, Bocek,Weidenfeld
NAYES: 0- None
ABSENT: 1 -Johnson
PASSED: October 16, 2023
APPROVED: October 16, 2023
PUBLISHED: October 17, 2023
ATTEST: APPROVE •
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Janet . ' abian,Village Clerk Eric N. Smith,Vil � President
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Exhibit A
6-month Extension of the Listing Agreement with Colliers International for 1650 Leider Lane