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A 72-condo redevelopment project for the downtown area known as the Triangle was approved when the mayor and River Development LLC signed a construction agreement.
Mayor Ted Sherwood and two managers of River Development-Bruce Adreani of Norwood Builders of Chicago and Raymond Franczak of R. Franczak & Associates of Des Plaines-signed the agreement Friday, said a city spokeswoman.
The area bounded by River Road and Miner and Pearson Streets will receive $600,000 from a tax-increment financing district, city officials said.