4624 South Ellis Avenue, Chicago, IL, USA

CLOSED: Cell At Auction LLC is pleased to offer the opportunity to acquire a 50-year easement of an AT&T structural lease agreement in Chicago, IL The original lease was executed in November 2013 by New Cingular Wireless PCS and a prior apartment building owner. The original lease term was for five (5) years with four (4) additional five (5) year renewal options. The initial rent was for $19,200 annually, paid monthly. The rent will increase by three percent (3%) over the rent paid over the previous year. Under the current terms the lease will expire in 2038 if all renewals are exercised. AT&T has the right to match the high bidders offer to purchase the rental stream offer. Special consideration will be given to offers that provide for a revenue share for additional wireless carriers. The property is located near the border of Hyde Park and Kenwood Historic neighborhoods. All offers should be presented in the formal of an executable Letter of Intent.

These are some particulars:
Sealed Bid Deadline: January 26, 2020
Current Annual Rent: $ 22,258
Location: 4624 S. Ellis, Chicago, IL
Buyer’s Premium:
Burton Blinick, Licensed Illinois Real Estate Managing Broker and Auctioneer