Enhanced-Use Lease Transaction of Underutilized Property at the Department of Veterans Affairs Medical Center, North Chicago, IL

Résumé

The Secretary of the Department of Veterans Affairs is designating the Veterans Affairs Medical Center at North Chicago, IL, for an Enhanced-Use lease development. The Department intends to enter into a long-term lease (up to 75 years) of underutilized real property under VA's control and jurisdiction with The Finch University of Health Sciences/The Chicago Medical School (CMS), an educational institution affiliate of the VA Medical Center. Under the proposal, CMS would use the out-leased real property for future expansion of their existing facilities as well as development of new facilities. In return for this Enhanced-Use lease, CMS will provide "fair consideration" including the purchase energy products from an energy center being developed on the North Chicago VA Medical Center campus.