Half-Completed Tyvek Towers Sold

Algonquin Village Manager William Ganek has confirmed the sale of Riverside Square.

Ganek was unable to disclose the official name of the buyer or the price the property was sold for.

Since last week’s court hearing, there has been increased speculation as to whether a Des Plaines developer is going to close on a deal to purchase Algonquin’s downtown Riverside Square.

The half-completed structure at Routes 31 and 62, also known as Tyvek Towers, has a long history, which can be read .

But more recently, after a March 3 court hearing to determine the future of the property when there were no qualified bids at a public auction in January, the conjecture has been that John Breugelmans of Lakeland Asset Management has been moving forward on getting a deal closed.

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