I had a similar error on a project I was trying to migrate. Try re-targeting the framework of the project back a version or two, and once you find a target version where you do not get the error, re-target back to the version you originally had trouble with.
I was getting the same error on a website project targeted for 4.6.2 that was referencing some older libraries, re-targeted it back to 4.5.1 and that resolved the error. I immediately re-targeted back to 4.6.2 and did not encounter the error again.