GDG purchase of Henderson's Corner falls through
An agreement between GDG LLC and the Henderson Family to purchase Henderson's property on the east side of Aledo (known as Henderson's Corner) has fallen through. Bob Rillie, attorney for the Henderson property, said he received a letter July 21 notifiying the family that GDG was withdrawing the group's offer to purchase the property because one of the purchase agreement's contingencies had not been met.
One of the contingencies of the agreement was that the State of Illinois agree to vacate a street (known as Henderson's Curve or Corvette Curve) without compensation.
The letter cited the lack of the city and the state to come to an agreement by the July 21 deadline as the reason the group had for withdrawing its offer.
The street used to be part of Highway 94. "It appears as a frontage road," said Rillie, "although it was never intended as one."
The road includes 1.771 acres.
"It's a shame," said Rillie. "It seemed like a win-win for everyone. I know the city put in a lot of money and effort into it."
The Aledo City council voted at its July 6 council meting to annex a little more of five acres for a development named Eagle Point Subdivision. At the July 6 meeting City Attorney Mark Walton told the council that when the Illinois Department of Transportation handed over the frontage road that goes through the property to the city in August of 2007 it noted that if the road was later vacated to a developer then IDOT could ask for compensation.
The city had previously voted to give Tax Increment Financing funds up to $200,000 to the group.