Capaccio Bros. Furniture to close by end of summer

Capaccio Bros. Furniture, a fixture in the Lake Zurich business community for nearly 28 years, will close by the end of this summer, store officials said.

Co-owner Nick Capaccio said the decision to shut down came as many of the store's American furniture suppliers have folded in the past several years, under pressure from competitive manufacturers in China and Vietnam. Capaccio said he'd rather close up shop than sell lower-quality furniture made by companies overseas.

"It has nothing to do with finances," Capaccio said. "Our business model is based on a philosophy of providing high-quality furniture, and that's becoming harder and harder to do. It doesn't make sense for us to continue with things the way they are."

Since opening in 1984 near the intersection of Route 22 and Cortland Drive, Capaccio Bros. has become one of the most well-known businesses in Lake Zurich, drawing customers from across Lake County and the rest of the Chicago area.

The store's two-floor showroom is known for its large staircase complete with painted frescoes, as well as a Victorian-era elevator, one of just three in the world.

"It's a shame to see them go after so many successful years in the village," Lake Zurich Mayor Suzanne Branding said.

Lake Zurich Area Chamber of Commerce Executive Director Dale Perrin said Capaccio's decision to shut down reflected the business's commitment to well-built furniture.

"It's a real loss for the community," Perrin said. "They've played a key role in Lake Zurich business for decades."

Capaccio said he put the store up for sale about a year ago and has received multiple offers.

"We wanted to make sure the right business was coming in after us, people we knew would be a good fit for the Lake Zurich community," Capaccio said.

The right fit, he said, ended up being Midwest Motors Inc., a high-end exotic and luxury car dealership currently operating in Volo. A proposal that would allow the dealer to come to Lake Zurich is under consideration by the village planning commission.

Regardless of when a new owner is approved for the space, Capaccio said his business would clear inventory and shut down by the end of the summer.

"It's time to move on," he said.