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Board approves 120-day letter of intent with Williams Group to study mixed-use project downtown
Summary
Trustees approved a 120-day letter of intent allowing the Williams Group to pause marketing while conducting due diligence on a proposed two-story mixed-use project at 310 North River Street; developers said concept may include a restaurant/brewery requiring future liquor licensing.
Montgomery approved a letter of intent (Resolution 2026-004) authorizing the Williams Group 120 days to study redevelopment of village-owned property at 310 North River Street.
Staff described the site as a strategically important downtown parcel currently used as a parking lot, and said the developer’s concept is a two-story mixed-use building with commercial space on the first floor and apartments above. Developer representatives Mike and Ed Williams told trustees they have experience with similar downtown projects in Yorkville and said one concept under consideration is a restaurant/brewery seeking a liquor license.
Trustees asked whether liquor licensing and other approvals would be required later and whether the developer would operate a brewery or hold the property as a landlord. The developer said the focus during the 120-day due-diligence period is to confirm financial and tenant viability; the LOI includes a clause allowing administrative extensions by staff up to a 180-day maximum without returning to the board.
The board voted unanimously to approve the LOI and pause marketing of the parcel for the due-diligence period.
