Letter of Intent to Lease Commercial Real Estate
On behalf of The Anna Solkowski Foundation Inc., we are pleased to submit this Letter of Intent to lease the storefront retail/office space located at [Insert Property Address]. This proposal outlines the preliminary framework under which the Tenant is prepared to enter into a definitive lease agreement.
1. Tenant Entity & Brand Identity
The legal tenant under the lease will be "The Anna Solkowski Foundation Inc." The retail operations within the premises will be conducted under the registered business name (DBA) "Chicago Typewriter." The brand operates via established industry channels and supply chains tied directly to premier historic typewriter venues, specifically our affiliate partner shops located in Berkeley, California, and Downers Grove, Illinois.
2. Premises & Future Expansion Options
The target premises includes the ground-floor retail/office space at the aforementioned property address. Additionally, the Tenant requests a Right of First Refusal to incorporate the adjacent lower-level basement backroom storage area into the lease agreement at a future date at a mutually negotiated, reduced rental rate.
3. Initial Commercial Terms
- BASE RENT: $1,495.00 per month (fixed for the initial term).
- SECURITY DEPOSIT: $4,485.00 (equivalent to exactly 3 months of base rent).
- LEASE TERM & START: Three (3) year initial term, commencing on June 1, 2026, and expiring on May 31, 2029.
4. Operations & Permitted Scope of Use
PHASE I (Immediate): The property will first be utilized immediately as a secure, central logistics node to store physical inventory, art components, and infrastructure assets supporting regional summer block parties, community activations, and fine art festivals.
PHASE II (Retail storefront): Concurrently, the Tenant will coordinate with local municipal authorities to obtain necessary operational licensing and zoning clearances. Upon administrative clearance, the location will transition into a fully functional commercial storefront dedicated to the public retail sales, restoration, and preservation of vintage manual typewriters.
HOURS OF STOREFRONT OPERATIONS: Planned public retail hours will run Tuesday through Saturday, from 10:00 AM to 6:00 PM. The facility will remain closed to the public on Sundays and Mondays.
5. Specialized Terms & Contingencies
EARLY TERMINATION VALUE PROPOSITION: In lieu of executed personal guarantees across the foundation's multi-partner governance structure, the Tenant agrees to assume full financial lease accountability independent of the municipal zoning timeline. However, the definitive lease must contain an early exit rider enabling the Tenant to terminate the agreement upon providing appropriate notice and a set termination penalty equivalent to three (3) months of base rent. The Landlord may retain the initial 3-month security deposit to fully satisfy this penalty if executed.
FACILITY CONDITION (HVAC & SANITATION): The Tenant accepts the facility in its current structural state regarding seasonal climate options for the immediate summer cycle, utilizing auxiliary plug-in space heater hardware as required. The Landlord agrees to cooperate alongside a reasonable schedule to confirm the primary integrated restroom facilities are modernized and structurally sound prior to winter weather frameworks.
LANDLORD ADMINISTRATIVE COOPERATION: The Landlord agrees to promptly sign and support municipal documentation or occupancy adjustments required for the Tenant to seek retail licensing. Both parties recognize that any permanent zoning modifications belong strictly to the property title holder.
MUNICIPAL PROTECTIONS & COMPLIANCE: The Landlord agrees to maintain all structural elements, roof, and essential building services in full compliance with the Chicago Municipal Code. The definitive lease shall expressly preserve all Tenant rights and protections afforded under Chicago commercial tenancy ordinances, including but not limited to the covenant of quiet enjoyment, timely remediation of code violations by the Landlord, and protection against constructive eviction or unlawful utility interruption.
CAPITAL BUYOUT OPPORTUNITY: The Tenant requests a standard Right of First Refusal (ROFR) to purchase the building entity from the Landlord should the owner choose to actively list or sell the property assets anytime during the active lease horizon.
6. Non-Binding Nature of This Instrument
This instrument represents an expression of introductory interest and operational clarity only. It does not create a binding legal obligation for either the Tenant or the Landlord. Legal obligations are established only when a formal, complete lease text is drafted, approved, and fully executed by authorized signatories from both sides.
Adam Cornelius, Authorized Representative
The Anna Solkowski Foundation Inc. (DBA Chicago Typewriter)
Accepted By: Landlord / Property Owner Representative
Date: ________________________, 2026