Algonquin Borders to Close After Company Liquidates Business

The Borders in the Algonquin Commons will be the latest store to close its doors as part of the book store chain’s reorganization under Chapter 11 bankruptcy.

Russ Farnum, Algonquin’s community development director, calls the shuttering unfortunate.

“We have one of the few remaining Borders,” he said. “The store certainly contributes to our village’s tax base and sales tax revenue. They’re a good tenant in the Algonquin Commons shopping center. It’s unfortunate they have to go.”

The, 2216 S. Randall Road, was one of the remaining 14 locations in the Chicago area after Borders announced.

Farnum said officials are already working with Inland Real Estate, the company that manages the Algonquin Commons, to fill the space.

Allison Kuchny, leasing representative for Inland Real Estate Corporation, said officials anticipated the Borders liquidation. She declined to give information on any future tenants.

“Unfortunately, we cannot comment on ongoing lease discussions,” she said.

Farnum said finding a new tenant will take some time.

“It won’t be next week or next month,” he said. “But we’ll have a new tenant in there relatively quickly in real estate terms.”

He said the store has not given a closing date but he did not anticipate it would be before Friday.

A Borders employee who chose not to give her name said she did not find out about the closing until late yesterday afternoon. She also did not know when the store would be shutting its doors for good.

Tammy Bratcher of Lake in the Hills said she frequently stopped in at the Borders while doing other shopping at Algonquin Commons.

“They also provided great online coupons,” Bratcher said. “We are sad to see them close.”