Village Tries to Coax Developer Into Converting Riverside Plaza Apartments into Condos

ALGONQUIN, IL -- The Algonquin Village Board last week approved a special service area tax levy for Riverside Plaza with the hopes of encouraging developer John Bruegelmans to convert the current apartments downtown to condos, the Northwest Herald reports.

The village board voted in favor of applying a levy to the SSA for the first time. If Breugelmans converts the apartments to condos, the SSA will stop altogether, according to the article. The levy is set up to pay back $350,000 in streetscape investments made around the building, which is located at 1 N. Main St.

Read more on the Northwest Herald.