JOLIET, IL —The Milano Bakery near downtown Joliet has been a part of the city for more than 100 years and now there’s an opportunity to acquire the land for $2 million. A listing for the Milano’s Bakery property at 433 South Chicago St. appeared on the commercial real estate website LoopNet.com in recent days.
“MILANO BAKERY WILL CONTINUE TO OPERATE AT THIS LOCATION AS THEY HAVE FOR THE LAST 106 YEARS,” the Joliet real estate listing proclaims in all capitalized letters.
Transwestern Commercial Services of Illinois makes it clear that the $2 million acquisition would involve the sale of the Milano Bakery building as well as numerous other parcels owned by M & D Enterprises.
According to the real estate flier: the Milano Bakery property would include 12 buildings on approximately 3.76 acres and with total building square footage of 39,550.
“This offering includes 8 single-family homes, 1 multifamily four-plex, 1 multifamily duplex, a fully operational food-grade Bakery building, a two-story office/retail building, and some vacant land pieces – an assemblage of 23 different tax parcels with 15 different addresses,” the listing agents with Transwestern Commercial Services noted.
All the residential properties have different occupants, and the commercial properties are used by Milano Bakery, potential buyers are informed.
“Milano Bakery will continue to occupy the commercial properties with a Sale-Leaseback scenario under a new long-term lease agreement — terms negotiable. Milano has been in business for well over a century and is a family owned, multi-generational business. The Milano business is not for sale, and this is a sale for the real estate only,” according to LoopNet.
Joliet Patch has produced multiple articles on Milano Bakery in recent years.
Last April, Patch featured Milano’s in a story about how some of Joliet’s oldest family-owned businesses were doing a month into the coronavirus pandemic.
Located on the main gateway into downtown Joliet near Interstate 80, Milano Bakery has been in business since 1915. Milano baked fresh loaves of bread and sweets during World War I, The Great Depression, World War II, Vietnam and other international crisis.
Its owner told Patch last year that more people are purchasing Milano Vienna Bread at major grocery chains such as Jewel, Sam’s Club and Berkot’s Super Foods, among other places.
“Retail-wise, that has picked up, and certainly with bread,” remarked Darin DeBenedetti, who co-owns the bakery with his brother, Mario.
And during last November’s presidential election, besides its usual assortment of fresh bread and sweets, Joliet’s Milano Bakery made sugar cookies saying Joe Biden, Donald Trump and Vote.
Milano’s has made Chicago sports team cookies in the past, and Chicago Cubs cookies always out sell the White Sox, according to the employees.
In any event, Alex Genova and Justin Lerner of Transwestern are the listing agents for the Milano Bakery properties. They work in Rosemont, Ill.
If you’re interested in buying the properties, visit the LoopNet website here.