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Caputo grocery stores on auction block

Remaining Joe Caputo & Sons grocery stores in Algonquin, Palatine and Des Plaines will be auctioned next month.

The embattled grocery chain's locations will go to auction beginning at 10 a.m. May 12 at the Hyatt Regency Rosemont, according to according to a news release from Murray Wise Associates LLC.

The properties are:

• A 67,550 square-foot grocery/retail building on a 7.92-acre site at 100 S. Randall Road in Algonquin.

• Fox Fire Plaza, a 66,233 square-foot, two-building retail center on a 5.95-acre site at the southeast corner of Hicks Road and Rand Road in Palatine.

• The Oaks Shopping Center, a 135,004 square-foot retail center on a 15.08-acre site located at 1517-1555 and 1572-1591 Lee Street in Des Plaines.

The stores' fixtures and inventory will be sold separately at the May 12 auction, the news release said.

An information day to discuss the properties and the auction process will be held from noon to 2 p.m. at Gino's East, 8725 W. Higgins Road, Chicago.

“Given the prominence of these locations and the strength of the commercial real estate market, we expect the auction to bring a number of serious bidders to the table,” Ken Nofziger of Murray Wise Associates said in the news release.

The family-owned Joe Caputo grocery chain closed three stores in Arlington Heights, Northbrook and Elk Grove Village last year. Those stores were former Dominick's locations Caputo acquired in January 2014.

The closures followed a federal lawsuit alleging the store owes wholesalers more than $4.6 million in unpaid produce bills.

Chicago-based wholesaler Anthony Marano Co. sued for $3.6 million in unpaid produce since last June. Five other wholesalers have since added their names to the pending suit, alleging Caputo owes them $1 million.

An information day to discuss the properties and the auction process will be held from noon to 2 p.m. at Gino's East, 8725 W. Higgins Road, Chicago.

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