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Northwest Suburban Chicago Retail Real Estate Auction

Illinois, 268,800 SF on 30.25 Acres SOLD: $32,000,000

Auction takes place Thursday, May 12, 10:00 AM

Auction Date, Time and Location

Thursday, May 12th at 10AM
Hyatt Rosemont - Adjacent to Rivers Casino
Lindbergh Ballroom
6350 N. River Road
Rosemont, Illinois 60018

For details on the auction procedure, call 800-607-6888.

 

Information Date, Time and Location

Tuesday, April 26 from 10am - Noon
Gino's East on Higgins
8725 W. Higgins Road
Chicago, IL 60631 

We invite you to join us at Gino's East on Higgins to learn more about the sale procedure and assets. For additional information or to schedule a private showing, please contact Ed Wabick at ewabick@painewetzel.com or Ken Nofziger at ken@mwallc.com.

For a copy of the purchase agreement, call 800-607-6888 or 773.714.9300 x141

 

Introduction

The assets of Joe Caputo and Sons, Inc. and related entities (collectively, “Caputo”) will be sold at public auction under the direction of the United States District Court for the Northern District of Illinois Eastern Division. Robert B. Marcus, Esq., not individually but solely in his capacity as Trustee/Receiver, has retained Murray Wise Associates LLC and Paine Wetzel Associates, Inc. who will sell the Caputo assets in a public auction.

The assets to be sold at auction will include real property, personal property, and store inventory for multiple locations throughout the Northwest Chicagoland suburban area. The real estate being offered is in Cook & McHenry Counties and totals approximately 30.25 acres of land and 268,800 square feet of gross building area. 

Personal property and inventory are being offered as separate auction parcels for the Algonquin, Palatine, and Des Plaines Joe Caputo & Sons grocery stores. The personal property being offered includes all fixtures, coolers, refrigerators, ovens, utensils, supplies, packaging, furniture and other equipment used in the stores. The inventory being offered includes all dry goods, produce, dairy, meat, fish, bakery, deli, beverage, liquor, wine, beer, and any other ingredient(s), raw materials, work in progress and finished goods inventory on hand and available for sale at the stores. The intellectual property rights (whether registered or unregistered) including logos, licenses, copyrights and rights of use or practice of the Joe Caputo & Sons name are expressly excluded from the sale.

 

Tract descriptions

Tract 1: Real Estate

Property Location: 100 S. Randall Road, Algonquin, IL 60102

This one-story precast grocery/retail building was built in 1994 and renovated in 2007. The property is located in McHenry County in a retail area at the southwest corner of Randall Road and Algonquin Road. There is currently planned construction to the intersection of Randall Road and Algonquin Road due to increasing traffic in the area. The property is zoned B-2, Planned Unit Development (PUD), which adheres to retail uses.

Property Highlights

  • Approx. 67,550 SF on a 7.92 acre site
  • 3 exterior docks with levelers
  • 24’ ceilings
  • Heavy power
  • Located next to Home Depot

Map

 

Tract 2: Operating Store, Fixtures & Inventory

The improvements, fixtures, equipment & inventory located at the 67,550 SF operating Algonquin grocery store. For complete list, call 800.607.6888 or download here.

 

Tract 3: Real Estate

Property Location: 2070 N. Rand Road, Palatine IL, 60047

This property, the Fox Fire Plaza, includes a 66,233 SF Retail Center on a 5.95 acre land site. The property is located at the southeast corner of Hicks Road and Rand Road in Cook County. It is currently zoned in a Planned Unit Development (PUD) and conforms to retail users.

The grocery building was built in 2005 with a new 10,000 SF addition built in 2010. The retail center was built in 1988 and renovated in 2005. The 18,391 free-standing center is approx. 70% leased with a Net Operating Income (NOI) of approx. $199,000.

Property Highlights

  • 47,842 SF Anchored Grocery Store on 4.95 acres
  • 18,391 SF Free-Standing Retail Center on 1 acre
  • 24’ ceilings
  • 2 exterior docks with levelers and grade-level door
  • Potential upside if repurposed

Map


Tract 4: Operating Store, Fixtures & Inventory

The improvements, fixtures, equipment & inventory located at the 47,842 SF operating Palatine grocery store. For complete list, call 800.607.6888 or download here.

 

Tract 5: Real Estate

Property Location: 1517-1555 & 1572-1591 Lee Street, Des Plaines, IL 60018

This property, The Oaks Shopping Center, includes a 135,004 SF Retail Center on a 15.08 acre site. Built in 1984, the property is steel and masonry frame construction with brick exterior walls.

A 63,863 SF store, previously operated as a grocery store, is currently vacant and the interior has been demolished and is ready for rehab.

Additionally, there are two multi-tenant retail centers totaling 71,141 SF. This space is approx. 75% leased with a Net Operating Income (NOI) of approx. $610,000.

Property Highlights

  • 63,863 SF Vacant Store with 16’ to 24’ ceilings
  • 49,370 SF Attached Multi-Tenant Retail Space
  • 21,771 SF Free-Standing Retail Center
  • Exterior loading
  • Potential outlot development

Map​


Tract 6: Operating Store, Fixtures & Inventory

The improvements, fixtures, equipment & inventory located at the approx. 10,200 SF operating Des Plaines grocery store. For complete list, call 800.607.6888 or download here.

 

Property Video