Has Joliet's Truth Restaurant Finally Found A Buyer?

JOLIET, IL — For the past year, efforts to sell the closed Truth Restaurant property at 808 West Jefferson St. have remained ongoing. At this time a year ago, Truth was on the Joliet commercial real estate market for $499,000. After no one came forward to pay that price, the listing was dropped by $50,000 several months later.

In November, Joliet Patch reported the price dropped to $449,000, according to listing agent Ted Aretos of Eatz & Associates. Nowadays, if you search for Joliet's 808 West Jefferson Street on the commercial website site LoopNet, the Truth property is absent.

What's going on?

A visit to the website for Eatz & Associates informs visitors that the Truth property in Joliet is now "under contract."

Eatz & Associates refers to the Truth property as an "Incredible Freestanding Restaurant Property plus 2nd Commercial Building Joliet, IL On Highly Trafficked W Jefferson St!"

On Tuesday, Joliet Patch left a voicemail message with Ted Aretos, the broker for the Truth property, but he did not call back.

Back in November, Aretos told Joliet Patch there had been multiple inquires about opening a pizzeria here. Another person looked at the site for a smoked BBQ and pizza restaurant. A third possible buyer was interested in opening an auto parts store. Others have considered a small grocery store, he said at the time.

"We've had a lot of people look at it," Aretos remarked. "I really think it's for sale under market value. It's just a matter of who's going to come up with the best offer?"

The sale would include two separate buildings plus a large parking lot in the back of the property. The smaller building next door is leased by Bella Cucina Catering, which means the new owner will generate yearly income from the catering business.

With the property now under contract, what type of business would you expect will open here at the busy corner of Jefferson Street and Raynor Avenue? Post your comments at the bottom of this article or on the Joliet Patch Facebook page.