Illinois Administrative Code
Title 44 - GOVERNMENT CONTRACTS, GRANTMAKING, PROCUREMENT AND PROPERTY MANAGEMENT
Part 4 - CHIEF PROCUREMENT OFFICER FOR PUBLIC INSTITUTIONS OF HIGHER EDUCATION STANDARD PROCUREMENT
Subpart M - REAL PROPERTY LEASES AND CAPITAL IMPROVEMENT LEASES
Section 4.4030 - Purchase Option

Leases of all space in entire, free-standing buildings shall include an option to purchase exercisable by the university, unless the CPO-HE or SPO determines in writing that inclusion of that purchase option is not in the State's best interest. The determination, including the reasons for making that determination, shall be published in the Bulletin. Leases with governmental units and not-for-profit entities are exempt from the requirements of this Section.