Crews Start Demolition Of Family Square Shopping Center In Lisle After TIF Extension

LISLE, IL — Crews have begun demolition of the long-vacant Family Square Shopping Center in Lisle. The announcement comes following asbestos remediation that took place earlier this month.

In August 2025, the property, located at the intersection of Main Street and Ogden Avenue, was acquired by Flaherty & Collins Properties. The developers plan to revitalize the site with a mixed-use development.

“Today marks the beginning of a new day for downtown Lisle,” Mayor Mary Jo Mullen said in a statement.

Mullen added, “For years, this property has stood as a symbol of stalled progress. With its removal, we are turning the page and creating momentum for downtown redevelopment that will benefit residents, businesses, and visitors alike. We are excited to partner with the new property owner to bring renewed energy and opportunity to our community.”

The village recently approved a 12-year extension to the tax-increment financing (TIF) district the roughly three-acre site is located in.

The original TIF expiration date was 2038, which means it would have been set to expire before the project could generate suffiecient incremental value to "achieve the incentive request," village documents stated.

Per village records, the new 23-year TIF District also "presents an opportunity to consider redevelopment possibilities that might not have been evident in 2015 by expanding the new district to include additional redevelopment sites in and around the downtown area."