News Stories of the Year: Geneva's iconic Mill Race Inn demolished

Geneva’s iconic Mill Race Inn – gone from blacksmith shop in 1842 to restaurant in 1944 to closed in 2011 – was torn down this year to make way for new development.

Developer Shodeen Inc. created 4 East State Street Holdings LLC to purchase the Mill Race Inn’s 1.4-acre property at 4 E. State St. Shodeen Construction Inc. sought its demolition.

The building was in bad shape due to periodic flooding by the Fox River as it was constructed in a flood plain.

Crews removed the 1846 limestone sections of the restaurant to see if the structure could be considered a historic landmark or be incorporated into a future development of the property.

Shodeen has not determined the future use of the property, though the company has a contract to buy the .39 of an acre corner lot at 12 E. State St. which is contiguous to the Mill Race Inn parcel.

The property is now included in a new tax increment finance district created this year.

A tax increment finance district allows municipalities to divert the increased assessed value of property and sales taxes from redevelopment. The diverted tax revenue can be used for specific improvements, such as buying land, razing buildings, relocating a business or rebuilding streets, sidewalks and utilities, among other uses.

Under state law, TIF districts can last up to 23 years.

– Brenda Schory