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Local News

Rialto Square Theatre board hires firm to manage office space

The entrance to the Two Rialto Square building is just south of the Rialto Square Theatre on Chicago Street.
The entrance to the Two Rialto Square building is just south of the Rialto Square Theatre on Chicago Street.

JOLIET – The Rialto Square Theatre board agreed Wednesday to hire Olivieri Brothers as building manager for the Two Rialto Square office building.

Mokena-based Olivieri would be paid about $115,000 through 2018 for building management and architectural services. Plus the firm would get commission on any tenants it signs up for office space.

The contract was approved subject to attorney’s review by a vote of 5-1 at a special meeting.

Board members agreed they need a building manager for Rialto office space, although there were questions of where the money would come from.

Board Chairman Bob Filotto told fellow board members that he called John Olivieri to seek his services after the Rialto came close to losing “one of our primary tenants” about three weeks ago.

Filotto said the tenant was “frustrated over the difficulty of getting answers to questions for the last 18 months or so.” He said the tenant was retained by lowering rent, but the Rialto needed a building manager to deal with tenant issues.

The Rialto did not put out a request for proposals or seek bids for the work.

Filotto said he was advised by Rialto attorney David Silverman that the Rialto was not required to seek bids on the service. Silverman, however, will not be reviewing the contract for the Rialto because his firm has done work for Olivieri.

The hiring of Olivieri follows the decision last year to hire VenuWorks as an outside management firm to oversee Rialto operations. VenuWorks received a three-year contract in February at a base fee of $114,000 a year.

Filotto said while VenuWorks is managing the theater, another company was needed to manage office space owned by the Rialto.

Board member Jane Condon voted against the agreement, saying she believed Olivieri would provide good service but thought the contract should be negotiated first.

“There are several items that I would like to review,” Condon said.

Board member Thomas Osterberger approved the agreement but said he had concerns as to whether the Rialto could afford the services.

“It’s like buying a nice car and not having money for gas,” Osterberger said.

One board member, Jeff Pierson, was not at the meeting.

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