Dorr slams on building

Dorr Township is abandoning plans to purchase the condominium office at 747 South Eastwood Drive, Woodstock, as its new home.

During the extensive due diligence on the building, numerous problems arose that would just not go away.

The condo unit that housed the former realty company had structural problems.
Mold was found in the building.
An association that had been originally formed to manage the common property of the two condo units was in disarray.
Insurance coverage for the condo association had apparently lapsed.
The owner of the condo unit housing Vogue Cleaners may have thought he was sitting on the Lost Dutchman Mine. The price he wanted for considering a sale to the Township ... well, if you think gold is high now ...

The former real estate office site is bank-owned, and apparently it will stay that way for a while.

Hopefully, the trustees will conduct a "post-mortem" on the due diligence to determine whether they could have spent less to determine that they shouldn't buy that property. It may be that every dollar was well-spent, but it's worth taking a close look before the next deal comes along. The bills for legal fees and inspection costs could run close to the $30,000 mark.