During the Fox Valley Music and Storytelling Festival at Island Park a few weekends ago, it was hard not to think about the former Mill Race Inn.
The building is still there, now nearing three years of dormancy. Some of the wooden walkway near the riverfront is starting to buckle, and the building itself appears to be falling into a greater level of disrepair.
The property at 4 E. State includes the 1.33-acre site, one-story commercial building with about 14,000 square feet of restaurant space plus storage in the basement. It is listed with a selling price of $899,000, according to LoopNet.com.
Several developers have shown an interest in the property, but so far none have made an offer that has been accepted.
At what point, if any, should the city intercede? Should the market determine the development outcome, or is action necessary? Perhaps a TIF district to encourage development of "blighted" property?