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1. Catherine
   Member

   Our other thread is becoming as unwieldy as Wextrust. Perhaps folks would share new information here on these topics as they learn it.

   This is what I know has been stated by people who should know:

   The village attorney wrote to the Receiver on 10/30, outlining the historic importance of the building and requesting winterization and sale.

   The receiver released $2000 to winterize. This must be done by the contractor, unless (I am not clear on this) the village gets hold harmless agreements from the receiver. In any event, winterization is expected to be done by the end of the month.

   The estimated cost of heating the pipes in the rest of the building so that Grumpy's does not have to shut down is estimated at $1000 per month. As of last week, the receiver did not presently intend to heat the pipes. If they are not heated, they will be drained and the water shut off so the pipes do not burst.

   There was a construction mortgage taken out on the property with Amcore Bank, apparently based in Rockford, in excess of $2.8 million, due on 12/23/09. I think it is still outstanding. Notwithstanding that, the bank seems confused as to what to do and is deferring to the receiver, who does apparently by law have total control. It is hard to see any excess left over for the investors as the building now surely is in negative equity. [Total control and negative equity are my conclusions.]

   We know that 3 Riverside commissions have joined to include the Arcade in two influential lists of endangered historic buildings. This will offer soft protection, attract positive attention to it, possibly even a architecturally sensitive buyer.

   We know the whereabouts of some of the stained glass windows is unknown. They were not seen in the building, although the general contractor, I believe it was, thought that was where they were. Perhaps they are in the hands of unpaid subcontractors.

   The Landmark has said the building will be put up for sale before the end of the year.

   A real estate person in town has said the below selling broker has been retained. I do not see the Arcade on their website yet, although the Lincoln Park hotel is there:

   http://www.hilcorealestate.com/property/properties.asp?client_id=226

   Nor do I see it in the Trib online.

   So, as of today Nov. 18, we await the winterization and word of whether the heat and therefore water can remain on for Grumpy's.

   Posted Tuesday Nov 18, 2008 12:24 #

2. Catherine
   Member

   Wed, Nov 19:

   http://www.rblandmark.com/main.asp?SectionID=1&SubSectionID=1&ArticleID=4376&TM=23279.41

   The temperature has gone below freezing the last few nights, and is forecasted to do so at least through Tuesday, 6 days from now. It is hard to predict how long it takes pipes to freeze.

   I wonder if water drips are being kept on to prevent all water pipe sections from freezing?

   Posted Wednesday Nov 19, 2008 05:50 #

3. idic5
   Member

   Save the arcade!

   http://saveriversidearcade.blogspot.com:80/

   Posted Wednesday Nov 19, 2008 21:38 #

4. spatny
   Member

   I had a pail outside with a couple seedlings in water and it was frozen about an inch thick this AM. Supposed to be a low of 16 tomorrow. Tme is wasting....

   Posted Wednesday Nov 19, 2008 22:49 #

5. ChrisHajer
   Member

   Walking past the Arcade building this AM, I saw three notices from the Village taped to the front doors about turning off the water due to unpaid bills. So, are they shutting off the water because the bills are not being paid, or are they shutting it off because the building will be unheated, or maybe it doesn't really matter and the water would be shut off for one of the two reasons anyway?

   Posted Thursday Nov 20, 2008 10:04 #

6. idic5
   Member

   A couple of questions on the consequences of shutting off the water:

   * does that eliminate the possibility of frozen, broken pipes with water spilling out through the building?

   * does shutting off the water impact Grumpy's?

   Posted Thursday Nov 20, 2008 10:18 #

7. Catherine
   Member

   Shutting off the water is a big help to the pipes, but the pipes must also be drained with some winterization required also. Part of the pipes - either the drain or the catch basin - must be sealed , as I understand it. Or, sometimes as an alternative to draining, folks winterize their home by putting RV [non-toxic] antifreeze into the pipes. Don't know if that works on this scale.

   Likely they are shutting the water off for both reasons, but certainly saving the pipes must be paramount in their minds. Looks like the receiver has not paid the water bills either.

   Shutting off the water will shut down Grumpy's as no eating establishment can run without hot running water as it is a health code violation. So would putting antifreeze [non-toxic] variety into the pipes, as some folks do, unless it had a separate pipe system, which I think it does not.

   Posted Thursday Nov 20, 2008 11:28 #

8. Catherine
   Member

   Thurs, Nov 20

   By the way, 2 business days ago I requested of the Village Manager that the Board put a status report on the Arcade on their agenda for Dec 1, because it was not an agenda item at their last meeting. I asked to be advised whether or not this could be done.

   So far, I have not been given the courtesy of a reply. Perhaps the public servant is out of town.

   Posted Thursday Nov 20, 2008 11:30 #

9. Catherine
   Member

   I am trying to confine this thread to updated facts about the Arcade specifically, so they do not get lost in the shuffle. Thanks.

   As of the time of the Preservation Commission meeting, the receiver was not willing to heat the building. His duty is to preserve the asset and prevent substantial damage. In that connection, he appears to have lied to the court about winterizing all buildings, unless the 'steps' to which he referred are in his mind only, and damage has likely occurred from the heavy rains of late summer/early fall.

   Posted Thursday Nov 20, 2008 13:56 #

10. spatny
    Member

    OK - if you want to see a breakdown billing billing and expenses for the Receiver and attornies for just August, I posted it here:
    http://saveriversidearcade.blogspot.com/search/label/BUILDING%20IN%20DANGER?max-results=20
    Shakespeare was right.

    Posted Thursday Nov 20, 2008 14:06 #

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