After 50 years, Antioch Ace says goodbye

Real estate firm buys 7-acre parcel

Ace Hardware, a fixture in Antioch for more than 50 years, will close its doors for good next month after being sold to a real estate firm based in Chicago.

In recent weeks the store on Route 59 has slashed prices to get all the merchandise out by May 31, said owner Ted Costoff of Antioch.

He wouldn't say how much Centrum Real Estate paid for the 7.1-acre parcel of land which includes the Ace Hardware store, or how the parcel at the southwest corner of routes 173 and 59 will be used.

Ace's sale follows the closing of Antioch's other independently owned hardware store, True Value, in January.

Costoff said Ace's closing isn't related to big-box stores like Wal-Mart and Menards opening in Antioch in 2004 and 2007.

"We had some drop, but I didn't pay attention to what it was," he said.

He ultimately decided to close the 30,000-square-foot store because his wife died three years ago and, at 83 years old, he's ready to retire.

"The only reason I'm going out is because I'm getting up in years," he said. "I'm not a young buck anymore."

He still works in the store every day for a few hours. He co-owns it with his nephew, Paul of Crystal Lake, and niece, Julie Froelich of Wisconsin, who took over after Costoff's brothers Gus and Robert died.

He originally opened an Ace Hardware store in Antioch in 1957 with his brothers. Raised in Chicago, Costoff opened a grocery store there after he got out of the Army during World War II. His dad had a friend who owned a bar in Antioch who convinced Costoff and his brothers to check out the area. They liked what they saw and soon purchased a hardware store because a friend had told them, "You never see one of those failing."

In 1975 they built the current Ace Hardware in Antioch. A few of his employees have worked there for more than 30 years.

"I've been very fortunate to have fantastic people with me," Costoff said. "I've really enjoyed our life here. We've made a lot of beautiful friends."

There are rumors that the store could be demolished to make way for a CVS pharmacy, Aldi grocery or possibly another Ace Hardware. Ace Hardware only covers about one acre of the 7.1-acre parcel in the heart of growing Antioch.

For weeks banners outside the store have read, "Going out of business sale." It's unclear how many more weeks the store will remain open.

"Maybe it will be closed in a week or two weeks. It might be a couple weeks," he said.

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