Check your association bylaws. There should be guidance on the structure of the meetings and resident's opportunities to speak. Then you need someone on the board who can calmly enforce the policies. If there is nothing in the bylaws, enlist the help of an attorney who can advise you on making legal changes to help clarify how the meetings should be set up.
Check local laws to see if that is legal in Illinois. And then strategize on ways to "contain" rather than ban the troublemaker. Maybe each resident gets a chance to speak on whatever subject they want for 5 minutes at the end of the meeting? Then if he tries to speak out of turn, remind him that his opportunity to speak will come later in the meeting.