January 19, 2025
Business | Northwest Herald
Business

Joe Caputo & Sons in Algonquin to be sold at auction

Grocery stores in Des Plaines, Palatine also to be sold May 12

By KATIE DAHLSTROM

Sarah Nader- snader@shawmedia.com An exterior view of Joe Caputo & Sons in Algonquin after an announcement of clore closing amid financial trouble Tuesday, February 16, 2016. Joe Caputo & Sons' stores in Des Plaines, Algonquin and Palatine will remain open for business. (Sarah Nader)

ALGONQUIN – The three remaining locations of family-owned grocer Joe Caputo & Sons, including the Algonquin store, will be sold at an auction in May amid the chain's ongoing financial struggles.

According to Chicago-based commercial real estate firm Paine Wetzel TCN Worldwide, property, fixtures and inventory of Joe Caputo & Sons locations in Algonquin, Des Plaines and Palatine will be auctioned off at 10 a.m. May 12 at the Hyatt, 6350 N. River Road, Rosemont. Murray Wise Associates LLC will handle the auction.

The Algonquin location spans 67,550 square feet on 7.92 acres at 100 S. Randall Road, the auction flier boasts.

The auction is the latest financial blow to the company, which was sued in February by Chicago-based wholesaler Anthony Marano Co. on the claims the grocery chain did not pay for $3.6 million in produce delivered since June.

A federal judge subsequently issued a temporary restraining order that froze the grocer's assets. The same order gave Marano's attorney Robert B. Marcus the power “to make all business and legal decisions to manage the continued operation and/or liquidation” of Joe Caputo & Sons locations.

In a Facebook post two days after the February ruling, and following the closure of the chain's Elk Grove Village location, the grocery chain announced its Algonquin, Des Plaines and Palatine locations remained strong.

Officials at Joe Caputo & Sons' headquarters declined to comment when reached Tuesday.

In early 2014, Joe Caputo & Sons announced plans to add three locations at former Dominick's stores in in Arlington Heights, Elk Grove Village and Northbrook. The grocer closed the locations in Arlington Heights and Northbrook late last year.

Joe Caputo & Sons opened its Algonquin location in 2007, promising to offer customers in the Algonquin area the freshest fruits and vegetables and quality Italian specialties.

The family-owned chain first started doing business in 1989 out of its store in Des Plaines.

An information session on the properties will be held from noon to 2 p.m. April 26 at Gino's East, 8725 W. Higgins Road, Chicago.

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