The three year Stonebridge saga may soon be coming to a close.
The Lake Bluff Village Board of Trustees will vote at its Monday night meeting to either lift or keep the age restrictions currently on the 47-acre property. Both the and the voted in favor of lifting the restrictions. The Board of Trustees will consider their recommendations.
Stonebridge was initially developed with an age restriction for residents 55 and older and not under the age of 18.
The California-based development company SunCal agreed to purchase the property from Stonebridge Lake Bluff LLC under the condition the age restriction was lifted.
During the ZBA Public Hearing, Stan Brown SunCal senior vice president of real estate deveopment, stated the purchasing contract would not go through if Stonebridge retained the age restriction.
If the age restriction is not lifted and SunCal does not develop the property, Chris Rentz of Stonebridge Lake Bluff LLC said he will be forced to foreclose and hand the property over to the bank.
During the ZBA public hearing, Rentz said he doesn’t expect sympathy from the Village for his financial struggles, and hopes the best decision will be made for the community.