UPDATED 4:00 PM ET: CNN is reporting the boy's body has been recovered.

Original story below

Authorities continue to look for a two-year-old boy who was dragged into a lagoon by an alligator at a Disney hotel in Orlando.

The incident unfurled Tuesday evening at Grand Floridian Resort & Spa at Walt Disney World by the Seven Seas Lagoon.

The boy had been at the resort with his family since Sunday. They were visiting from Nebraska. "No Swimming" signs are posted in the area, most likely because of the presence of alligators.

The boy was reportedly "wading in the water" at the time and one police official said, "The father actually went into the water to wrestle his son from the grips of the alligator." The alligator is believed to be between four and seven feet long.

As of this writing, officials consider this to be a search-and-rescue. The official also said, "Prepare for the worst, hope for the best."

Officials searching for the boy have found four alligators, but no sign of the child.