Joliet To Lease Space At John Bays' Two Rialto Square Building

Joliet IL

03 December, 2021

12:21 PM

Description

JOLIET, IL — Joliet City Manager Jim Capparelli is moving forward with plans to lease office space from John Bays' Two Rialto Square Building. Joliet's taxpayers would spend a total of $150,000 under the three-year lease agreement to occupy about 3,000 square feet of professional office space inside 116 North Chicago St. Capparelli intends to move Joliet's Public Utilities Engineering Staff Office out of City Hall. Bays told Patch on Friday that the city staff would occupy office space on the fourth floor of his building. His other major tenant on that floor is the Will County Regional Office of Education. City documents indicate that the negotiated lease rate with Bays Investments is $4,166.67/month for 36 months, with the option to renew for two consecutive 12-month periods after the first three years. The optional two 12-month renewal periods are for the same initial rate of $4,166.67/month. The lease proposal is on Monday's agenda for the Joliet City Council public service commission, which consists of Larry Hug, Bettye Gavin and Terry Morris. In late September, Capparelli met with several City Hall departments and came to the conclusion that there's a shortage of office space, his memo to the City Council shows. Capparelli's memo goes on to state: "Given that there is a square footage workspace shortage in City Hall, given that other departments homed in City Hall also need additional workspace, and given that Public Utilities Engineering staff will be moving out of City Hall into a new facility in the future it was concluded by staff that the best, immediate solution would be for the Public Utilities Engineering staff to temporarily rent office space so that other Departments homed in City Hall can have the square footage and offices currently occupied by Public Utilities Engineering staff." Capparelli noted that Joliet considered five properties to relocate Joliet's public utilities staff and "it was determined four of the properties didn't meet the City's desired attributes. The disqualifying attributes were largely appropriate size and/or condition of the space itself. Staff elected to negotiate with the property owner at 116 N. Chicago Street. The other available properties were considered comparables in negotiating a fair lease rate." John Ferak/Joliet Patch