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Addison approves lease amendment reducing rent for wireless carrier at water‑tower site
Summary
The village approved a second amendment to the lease with New Singular Wireless PCS LLC (AT&T) for antennas at 626 N. Swift Road, negotiating monthly rent down to $2,900 from about $3,610 while retaining a 3% annual escalator; staff said the carrier had sought a larger reduction and had been re-evaluating sites.
The village board on Aug. 17 adopted a resolution approving a second amendment to the lease with New Singular Wireless PCS LLC — identified in the record as the carrier operating on a water tower at 626 North Swift Road.
Staff said the carrier had requested a reduction in monthly rent from roughly $3,610 to $2,750 and to lower the annual escalator; after "several months of negotiations" staff reported securing a compromise that reduces monthly rent to $2,900 while maintaining the existing 3% annual escalator. The lease was originally dated in 1995 and previously amended in 2017, when the rent was adjusted to $2,750, staff said. The village attorney reviewed the amendment and staff asked for the board’s favorable consideration; the resolution was adopted by roll call.
Board members noted this follows a trend of carriers seeking lower escalator provisions and said staff treated the outcome as a negotiation success that preserves income to the village while keeping the carrier on the site.
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