Sedgwick Properties News Today : Breaking News, Live Updates & Top Stories | Vimarsana

River Forest officials are eyeing the end of November as the completion date for ongoing improvements to the construction site of the failed Sedgwick Properties’ development at Lake Street and Lathrop Avenue.Officials are working with the Cook County Circuit Court appointed receiver, Walt Rebenson from Ascend Real Estate Group, to clean up the site. The end of November is generally considered to be the end of the construction season.Recent improvements at the site include placing dirt and seed on Ashland and Lathrop avenues adjacent to the newly placed sidewalks that are now walkable for ped...

River Forest officials have turned their attention to the future of Sedgwick Properties’ development at Lake Street and Lathrop Avenue less than a week after pulling the plug on the project.Officials met with the Cook County Circuit Court appointed receiver, Walt Rebenson from Ascend Real Estate Group, on Sept. 15, and separately with representatives from Beverly Bank, a subsidiary of Wintrust, on Sept. 19 to initiate plans for the clearing, cleanup and any repairs needed at the development site at Lake Street and Lathrop Avenue.In a news release, officials said the goal of the meetings were...

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 porti...

River Forest halted the Lake and Lathrop development after Sedgwick Properties, the developer, failed to meet the conditions set by the village.

Mark McKinney, project manager of the Lake and Lathrop development, told River Forest officials Monday that his firm is “working diligently” on securing financing and meeting other conditions by Sept. 15 to avoid the village revoking the building permit and issuing a stop-work order.McKinney appeared at the Village Board meeting Monday as part of an agreement tied to action by officials at their Aug. 28 village board meeting to grant the developer, Sedgwick Properties, a building permit extension, the latest in a string of extensions. Whereas the extension runs through Aug. 30, 2024, it co...