This has been in the works since May per the Feder article. They probably waited for the leases to expire in July to shut down regular programming.
Returning WAIT to the air from McHenry County will likely never happen unless they can diplex with nearby WNVR. New tower sites are impossible to build now, given the land costs and the eye sore thing. WAIT uses 3 towers. If they can figure out how to diplex with two sharp nulls from WNVR's short top loaded towers, then it could come back from there, likely with lower power.. Otherwise it's probably just history
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