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Lease Extension Agreement

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Exhibit 10.3


LEASE EXTENSION AGREEMENT #1


THIS AGREEMENT is made as of the 9th day of October, 2000, by and between Geerlings & Wade, Inc. (hereinafter referred to as TENANT) and ROTHBART REALTY COMPANY, as agent for the Beneficiaries of Cole Taylor Bank as Trustee under the Trust Agreement dated the 16th day of June, 1995 and known as Trust Number U/T 954069 (hereinafter referred to as "LANDLORD").


WITNESSETH:


WHEREAS, by lease dated August 23, 1995, LANDLORD leased to TENANT the premises commonly known as 948-952 Northpoint Blvd., in Waukegan, Illinois (hereinafter referred to as the "PREMISES"), under certain terms, covenants, conditions and agreements (hereinafter referred to as "LEASE") and said LEASE is still in full force and effect either under its original terms thereof; and


WHEREAS, the LEASE and this Lease Extension Agreement # 1 are all incorporated herein and shall collectively hereinafter be referred to as "REVISED LEASE"; and


WHEREAS, LANDLORD, and TENANT desire to herein make certain modifications, amendments and additions to the REVISED LEASE.


NOW, THEREFORE, LANDLORD and TENANT, in consideration of the mutual covenants and agreements herein contained, and intending to be legally bound hereby, covenant and agree as follows:


1. The above recitals are hereby incorporated into this Agreement;


2. The following modifications, amendments and additions are made to the
REVISED LEASE:


(A) The Term of the REVISED LEASE is hereby extended for an extended
Term beginning on February 1, 2001, and terminating on January
31, 2004.


(B) The monthly Base Rent during this extended Term shall be as
follows:


from February 1, 2001 to January 31, 2002 $63,600.00 (annualized)
$ 5,300.00(monthly)


from February 1, 2002 to January 31, 2003 $64,800.00 (annualized)
$ 5,400.00(monthly)


from February 1, 2003 to January 31, 2004 $66,000.00 (annualized)
$ 5,500.00(monthly)
(C) TENANT shall have one (1), three (3) year Option to Extend
("Option") the term of this LEASE for an extended Term beginning
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