Illinois § 40-30 Purchase option

Illinois Statutes

§ 40-30 — Purchase option

Illinois § 40-30

JurisdictionIllinois

TopicGOVERNMENT

Ch. 30FINANCE

Act 30 ILCS 500/Illinois Procurement Code.

Art.Article 40 - Real Property and Capital Improvement Leases

This text of Illinois § 40-30 (Purchase option) is published on Counsel Stack Legal Research, covering Illinois primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

30 Ill. Comp. Stat. 40-30 (2026).

Text

Leases of all space in entire, free-standing buildings shall include an option to purchase exercisable by the State, unless the purchasing officer determines that inclusion of such purchase option is not in the State's best interest and makes that determination in writing along with the reasons for making that determination and publishes the written determination in the appropriate volume of the Illinois Procurement Bulletin. Leases from governmental units and not-for-profit entities are exempt from the requirements of this Section.

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Leases of all space in entire, free-standing buildings shall include an option to purchase exercisable by the State, unless the purchasing officer determines that inclusion of such purchase option is not in the State's best interest and makes that determination in writing along with the reasons for making that determination and publishes the written determination in the appropriate volume of the Illinois Procurement Bulletin. Leases from governmental units and not-for-profit entities are exempt from the requirements of this Section.