3321 State Route 31, Crystal Lake, IL, USA

CLOSED:  Cell At Auction LLC is pleased to offer the opportunity to acquire a 50-year easement of a Vertical Bridge Site Lease Agreement in Crystal Lake, IL. The Site Lease was originally executed with PrimeCo in March 1997 at the initial annual rate of $10,800 for five years with four (5 year) renewal terms. There was a 20% increase per renewal term period. A first amendment was executed in Jan. 2011 adding one additional 5-year renewal term and amended the annual rent to $13,326 with 2.25% annual increases. VB Midwest acquired the tower from US Cellular in 2015. The 2021 annual rent to be paid in March 2021 is $15,571.59. In the event the final renewal term is exercised this lease will extend until 2027. There is NO ROFR (right of first refusal). The two carriers currently on the tower are T-Mobile and Sprint. Special consideration will be given to offers that include a revenue share model for future carriers. Crystal Lake is in McHenry County and is one of the best places to live in Illinois. All offers should be presented in the format of an executable Letter of Intent. Landlord has requested that the following be included in the offering. 1. Landlord shall have rights to utilize the underground of the area of easement to bring utilities (eg., sewer, water, etc) to serve the property. Such modifications shall not adversely impact the tower structure.
2. Easement purchaser shall pay prorated share of property tax increases. Please call for additional information.

These are some particulars:

Sealed Bid Deadline: April 1, 2021
Current Annual Rent: $15,571.59
Location: 3321 State Route 31, Crystal Lake, IL 60012
Burton Blinick, Licensed Illinois Real Estate Managing Broker and Auctioneer