Joliet OKs $2.5M Loan For Rialto Theatre Asbestos, HVAC Work: Report

JOLIET, IL —The Joliet City Council has signed off on a $2.5 million intergovernmental loan agreement that will help fund HVAC work and asbestos remediation at the historic Rialto Square Theatre, WJOL reported.

The deal is with the Will County Metropolitan Exposition and Auditorium Authority, which manages, operates and maintains the Rialto, 102 N. Chicago St.

Joliet City Councilman Larry Hug told Patch he was the only "no" vote against the loan.

The downtown landmark, dubbed "the jewel of Joliet," has been closed for several weeks amid a $9 million HVAC modernization project.

In 2024, the Rialto was hit with a lawsuit from Attorney General Kwame Raoul's office, which sought to keep the theater shut down due to air pollution and asbestos concerns.

"Plaintiff seeks immediate and preliminary injunctive relief and civil penalties for the release of asbestos into the environment at the Rialto Square Theatre," the suit said.

The suit came after the Illinois Environmental Protection Agency inspected the theater in response to a complaint and identified three bags that held regulated asbestos-containing material. Illinois EPA inspectors also found that containment measures were insufficient and lacked critical barriers, Patch previously reported.

Related: Rialto Issues Update On Asbestos In Theater's Basement

Despite opposition, Joliet's city council voted to approve the six-year, $2.5 million intergovernmental loan agreement, WJOL reported, saying "theater operators requested the multi-million-dollar loan to address emergency costs stemming from asbestos removal and to finalize the installation of the new heating and cooling systems."