Chicago EDA approves one-year lease extension with Concrete Mobility

The Chicago Economic Development Authority unanimously approved a one-year lease extension for Concrete Mobility on April 7, setting the rent at $19 per square foot from July 2026 through June 30, 2027, and recording that the tenant will pay the years rent up front, officials said.

The item, listed as agenda 4A, was introduced by the Chair, who called on Mr. Kerski to explain the terms. Mr. Kerski, identified by the Chair as the presenter, said the extension would be for one year and that "they will pay the full amount of the year's lease upfront." The transcript includes an unclear comment transcribed as "about 9¢," but the formal motion adopted the $19-per-square-foot rate.

A Committee member moved to approve the lease extension "to approve the lease extension with Concrete Mobility at $19 per square foot from July 2026 until 06/30/2027, in the amount of 48,241." The Chair recorded that Commissioner Delaney seconded the motion. The board then voted "aye," and the Chair announced the motion passed unanimously.

The Chair also noted the EDA bill list had been circulated to members after the original packet and that there were no questions. The board moved to adjourn; members approved a motion to adjourn to May 5, 2026, at 7 p.m., and the meeting ended.

The lease extension motion and the Chair's remarks are reflected in the meeting record; the EDA did not record further public discussion or dissent on the lease during the meeting.