Crystal Lake Mariano's Sold To NY Family For $35.5M

CRYSTAL LAKE, IL — A New York investor is thrilled over his recent move to sell the Crystal Lake Mariano's, which netted him $35.5 million. The sale price represents a 41 percent increase in value for the store, which the investor, Michael Tsoumpas, bought four years ago for $25.2 million, according to Crain's Chicago Business.

The steep increase in value marks a trend being seen across the Chicago area for grocery store sales. A Jewel-Osco in Glenview sold for $17.7 million in June, which marked a 42 percent increasefrom when it prior selling price of $12.5 million in December 2017, according to Crain's.

The Crystal Lake Mariano's, at 105 Northwest Highway, sold to a New York family earlier this month, but the name of the buyer has not been made public, according to Crain's.

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