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While some neighbors of the long-delayed and now stymied condominium development at Lake and Lathrop in River Forest were heartened that the village government pulled the project’s building permits Sept. 15, Marty Paris, the principal developer, told Crain’s on Monday that he remains confident he will complete the project.The 22-unit mixed use condo project has gone through multiple incarnations and developers and endless delays that have stretched well over a decade. Since spring Beverly Bank and Trust, a unit of Wintrust, has been in court seeking through foreclosure to claw back a portion of the funds it advanced for the development project. Earlier this month a Cook County court appointed a receiver to manage the property.River Forest’s village board had told Sedgwick Properties, Paris’ company, that it had until Sept. 15 to secure financing for the project or lose its construction permits. When the receiver was appointed, the village pulled the permits and, according to Crain’s, opened communications with the receiver. Cleaning up the periphery of the site – construction fencing, cracked sidewalks -- was the village’s first expectation of the receiver.
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