Luxury Motors in Downers Grove?

I don't know about Joe being in jail, but his LM website has the heading: "New Ownership, New Attitude." "Same Great Value". They did have a large selection of cars at one time.

 

The newest rumor:
Joe has kicked the Iozzo's team out of Bentley Downers Grove breaking out of a 3 year management contract.
Since everyone knows that he doesn't have the means to operate (not in good standing with banks, vendors, auctions, etc), rumor is that, after bleeding Marc Iozzo dry, the vampire of Chicago's luxury car business scene has set his sights on Joe Perillo and his fortune.
Supposedly, he has "glamored" Joe Perillo Jr. into investing in his two Bentley stores.
Just curious if the old man Perillo even knows about this?

 

So Iozzo is out and the Perillo's are in?

For some reason, I've always enjoyed watching Luxury Motors from the sideline, it's like watching a trainwreck, you know you shouldn't be intrigued, but you can't seem to take your eyes off the action!


I would love to hear the whole story behind this one...

On a side, you would think successful Automobile Dealers like the Iozzo Group or the Perillo's would have enough sense to stay FAR AWAY from LM, this guy must be one heck of a charmer...

-neil

 

It is called a Ponzi Scheme and some people just do not see things with open eyes.

 

MotorWerks learned their mistake after letting LM lease space at their Schaumburg MB facility. Ultimately, MotorWerks kicked them out!

 

Do you have anything with which to substantiate this? The Ogden Auto Group website still lists Bentley Downers Grove and Bentley Gold Coast as two of its franchises.

 

How is this a Ponzi Scheme?

http://en.wikipedia.org/wiki/Ponzi_scheme

 

Motorwerks kicked them out early though....They had no way of knowing what they were getting into...

These new guys (Iozzo and Perillo) surely have seen their track record and should know to stay away, FAR AWAY!

 

Ditto, I haven't seen anything to show it. Unless he was inviting investors promising them huge returns, and paying them off with new investors money.

I guess that is a possibility?

 

First federal indictments, FBI, then jail, now Ponzi scheme, then . . . who knows what next? I run with facts, not fiction. I have seen none of this. Our good friend appears to be nothing more than a small-time hustler and smooth-talker accused of many crimes, castrated, hung, and already buried.

Clearly, he has tried to make money any way he could, regardless of who he trampled over, typical of many from Persia who had similar, limited upbringings. While it may be immoral to do so, particularly shafting everyone along the way he could, with no respect for business norms or traditional values, coming as close to breaking the law as possible but not actually doing it, I have seen nothing to indicate he is a criminal or in danger of being "locked up."

I do know he broke an oral "gentlemen's promise" of a substantial nature years ago, that which I have no authority to discuss; that seems to run with his nature to which he has been labeled. But that does not make him a criminal. Dirtbag? Maybe. Regardless, why not stick with facts? I asked for what is going on with this guy, and this group sentenced him to death!

 

By all ethical standards, he is a criminal.

Number of unethical practices does apply!

 

My understanding from an employee of the Ogden Auto Group was that Joe Abbas had a "Deal" with Marc to take over the 2 Bentley Locations (BGC and BDG) and the downtown Lambo/Bugatti franchise. Was perhaps not quite a "sale" but an agreement that relinquished control. Marc's team started taking things over (including adding the dealers to the Ogden Auto Group website), but just before the legal documents were actually executed, Abbas struck a "better" deal with Perillo.

I did hear a Perillo commercial on the radio the other day about a "new management contract" on the Bentley, Lambo (GC) and Bugatti dealers.

I went to high school with Joe Perillo Jr., and I can assure you, for him it was "HIGH" school. Perillo and Abbas in business together..... sounds like a big "opportunity" for the DEA.

 

I don't know either of these people, but I'd be careful throwing around accusations such as this.

 

aren't they call "The New Luxury Motors II LLC" now?

 

I see that statement as opinion not accusation.

 

I am basing my opinion on first hand exposure to both persons mentioned.

If I were "throwing around accusations" I would base my statements on hearsay, as opposed to 1st hand knowledge. To be honest, what I shared in my prior post is tame in comparision to what I believe reality to be. After graduation, a good friend of mine worked at Perillo BMW (on Halsted) as a porter, he has plenty of stories of finding stuff in the armrests of "Joe Ferrari's" dealer cars. "Joe Ferrari" was Joe P. Jr.'s assumed name when he was working the sales floor, but I'll just let people form their own opinions (just watch his tv commercial).......

 

Read this excerpt from Crain's article posted today, which goes to show that a large proportion, if not the majority, of the stuff you read on this site and other internet chat rooms you have to take with a grain of salt . . . because it just might not be true. Like I warned earlier, stick with facts, not fiction; otherwise, be prepared for lawsuits for disparaging another's integrity:

http://www.chicagorealestatedaily.com/cgi-bin/news.pl?id=35955

"Mr. Perillo, who already owns a BMW dealership in the Gold Coast and a Lincoln-Mercury-Saab dealership in Lincoln Park, says he is slated to close around the end of this month on Bentley Gold Coast, 834 N. Rush St., which also sells Lamborghinis and Bugattis, and a Bentley dealership in west suburban Downers Grove from Mr. Abbas, president of Luxury Motors Inc.

The deal is coming together despite a downturn in the sales of high-price cars and an allegedly defamatory statement about Mr. Abbas e-mailed by a lawyer for Charter One Bank. The message from the lawyer to Mr. Perillo’s lawyer and others said Mr. Abbas had been arrested by the Illinois Secretary of State and had been released on bond, according to a complaint filed Oct. 19 in Cook County Circuit Court.

Mr. Abbas says in his suit that he has never been arrested or convicted of criminal activity, while Mr. Perillo says the incident gave him second thoughts about the deal.

Charter One provided credit to Mr. Abbas, who became “squeezed” because of the economy and the downturn in luxury car buying, says Chicago attorney Kurt Muller, who represents Mr. Abbas.

The lawyer for Charter One, Michael Weininger of Chicago-based law firm Lupel Weininger LLP, later informed recipients that the statement came from a third party and that he had been told it was not true, Mr. Muller says.

But Mr. Muller says he believes the false statement was intended to persuade Mr. Perillo to abandon the deal, so that other parties could buy the dealerships. He declines to identify the third parties."

 

I thought the Lamborghini Chicago dealership bought Bentley Gold Coast and Bentley Downers Grove?

 

That deal fell through. Joe Perillo is running it now.

 

the "New Luxury Motors-Ohare" is definately owned by new owners.

 

And why should we believe this as "fact?"

No more proof here than any other allegations! I'm getting the impression you in someway have a relationship with Bentley Gold Coast, Luxury Motors and /or Mr. Abbas himself !

 

Perillo picked up the cars on September 4th that were repossessed from Abbas by the bank. The deal has been consummated a long time ago.

Hopefully Mr. Perillo can fix the reputation.

http://www.dealerrater.com/dealer/Bentley-Downers-Grove-Luxury-Motors-review-16961/

 

Do the same people work at these dealerships, or did they hire new people after the ownership changed?

 

Perillo is set to close very soon. They haven't changed any of the staff and it's not likely that they will. You'll be safe if you only deal with the owner as Perillo does have a good reputation.

 

In addition, I wonder if the approach to obtaining inventory will change? LM has bought more than its fair share of bent metal (even if they didn't "know" they were buying storied cars).