Village to Hold Special Meeting to Discuss Riverside Square Lawsuit

Algonquin village officials will be holding a special closed-door meeting Tuesday evening to discuss “pending litigation” before its regularly scheduled village board meeting.

Officials today have confirmed that the April 12 special meeting has to do with the village’s Riverside Square lawsuit demolition, but that was all Village Manager William Ganek could say on the matter.

Since March 2010, the village has been pursuing a court order to have the half-finished Riverside Square structure demolished, citing reasons of public safety.

Last month a developer purchased the property from Harris bank, but has not yet revealed any plans for completing the structure. The Riverside Square Developers, a father and son out of Barrington, have not returned any of Patch's phone calls or emails regarding their future plan for the property.

Last month when the transaction was completed, Ganek said it was yet to be determined as to whether the village was going to drop its demolition lawsuit.

At several of its last meetings, the village board has gone into executive session to discuss “pending litigation” and has revealed nothing afterward except that it had no further updates at that time.

Construction on the residential and commercial property came to a halt in 2008 after the developer, Aspen Home Builders, filed for bankruptcy. Since then, the property that sits at Routes 31 and 62 has remained half-completed.

To read more about Riverside Square, also known as Tyvek Towers, click here.