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

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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.