Truth Restaurant Price Drop Expected To Land Buyer

JOLIET, IL — In May, the owners of Truth Restaurant put their property at the corner of West Jefferson Street and Raynor Avenue up for sale at $499,000. After 17 years, the owners of Truth decided to close rather than try to keep their restaurant afloat amid the coronavirus pandemic.

Although other restaurant properties along West Jefferson Street have changed hands in recent months, the latest being the former Wild Horse Bar & Grill property, the Truth property remains available. Now, the property listing has dropped by $50,000. Now, you can buy the Truth property for $449,000, according to listing agent Ted Aretos of Eatz & Associates.

Aretos told Joliet Patch this week that there has been strong and continued interest in the Truth restaurant property. He said he participated in a showing at 808 West Jefferson St. in recent days. The sale includes two separate buildings plus a large

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Is New York City’s Real Estate Market Really Tanking? I Asked Three Experts For The Brutal Truth

It was mid-April when it all began to sink in, instead of just being something real estate brokers, developers, and investors theorized about.

Within a week of America locking down as COVID-19 began sweeping the nation, tens of thousands of New Yorkers fled all five city boroughs in the fastest out-migration since September 11th. Many literally packed their bags and bolted overnight.

COVID’s NYC exodus continued through Memorial Day as infections, hospitalizations, and deaths surged, merging into a kind of super-migration with the typical, annual wave of New Yorkers who flee the city for summer anyways. In their wake, one of the world’s most vibrant metropolises eventually looked almost Apocalyptic: empty streets and parks, and vacant restaurants, bars, museums, and businesses block after block.

For more than two decades, developers, investors, and brokers—as well as millions of home and business owners—had always assumed that New York City’s real

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