Fox Lake, IL Route 173 - 50 Year Easement Sealed Bid Auction
Cell At Auction LLC is pleased to offer the opportunity to acquire a 50-year easement of an American Tower Ground Lease site lease. The lease was originally entered into on May 30, 1995 with Southwestern Bell Mobile Systems (now AT&T). The First Amendment and current site agreement was entered into on January 31, 2016 and provided for a 10-year- renewal term to May 31, 2025. The amendment called for an increase of the rent to $2,000 monthly with 3% annual increases. The tower is located at 28580 W. Il Route 173, Fox Lake, IL. The lease provides for a 30% revenue share for each additional unaffiliated third party. Currently there are no subtenants. Tenant pays a pro-rate portion of the real estate taxes and there is no ROFR (right of first refusal). Sealed Bid Deadline: May 4, 2018 Current Annual Rent: $25,461.60 Location: 28580 W. Il Route 173, Fox Lake, IL 60020Burton Blinick, Licensed Illinois Real Estate Managing Broker and Auctioneer