Palos Park manager presents negotiated Verizon lease terms; council approves sending addendum for attorney review

Village Manager Behm told the Palos Park Council on Aug. 25 that negotiations with Verizon Wireless over the village’s cell-site lease had produced terms staff recommends the village accept and return to the village attorney for review.

Behm said Verizon’s existing lease for the monopole at 12150 South Wolf Road currently pays $4,761 per month and runs through Oct. 31, 2031. After rejecting an earlier Verizon proposal that would have commenced different terms earlier, Behm said staff reached what he described as the best acceptable offer: $5,000 per month beginning Nov. 1, 2031, followed by a 15% rent escalator every five years. Under that schedule, Behm said the next increase would raise rent to $5,750 per month on Nov. 1, 2036, and the agreement would include two additional five-year renewal terms.

"The rent amount would be $5,000 a month commencing on 11/01/2031," Manager Behm said while presenting the term sheet.

Behm told the council staff negotiated against an initial Verizon offer of $3,300 per month that would have commenced prior to the end of the existing lease. He said the village rejected that offer and sought more favorable terms. Commissioner 7 noted that the figures quoted reflect nominal dollars in 2025 and that long-term purchasing power will change over time; the commissioner nonetheless supported the motion as the best available option.

The council voted unanimously to approve the retention terms in the Aug. 11, 2025 term sheet and directed staff to have Verizon prepare the final addendum for review by the village attorney before final council approval.

Manager Behm said the final addendum will be reviewed by the village attorney and brought back to council for formal signing and implementation.