Joe Perillo is a businessman who is the president of the Perillo Dealer Group. The Perillo Group owns several luxury car dealerships in Chicago, including BMW, Bugatti, Maserati, and Bentley.
He was once the number one salesman for Cadillac cars in America. He has a net worth of approximately $16 million.
| Name | Joe Perillo |
|---|---|
| Date of Birth: | Unknown |
| Place of Birth: | Chicago, United States |
| Height: | Unknown |
| Profession: | Businessman, car salesman |
| Marital Status: | Married |
| Children: | 2 |
| Parents: | Mother and father unknown |
| Net Worth Estimate: | $16 million |
Net Worth
An exact figure of Perillo’s net worth is not available. However, it is speculated to be around $16 million.
Most of Perillo’s earnings have come from his work as a car salesman. He previously worked as a Cadillac salesman, eventually becoming the number one salesman of this vehicle across America.
Perillo gets a substantial portion of his earnings from the Perillo Auto Group. The dealer group owns several car dealerships in Chicago, including BMW, Rolls Royce, Bugatti, Bentley, Maserati, and Lamborghini.
The Dealer Group is one of the biggest car dealership companies in the world. It is an accredited company with an A+ rating from the Better Business Bureau.
Company
Perillo owns several companies, all of which are part of the Perillo Auto Group.
Perillo is the founder of the Perillo Pontiac dealership in Lincoln Park, Chicago. The company was founded in 1975 and closed in 2012.
It is unclear how much yearly revenue Perillo made from Perillo Pontiac. However, Perillo has stated that the company was originally failing, and he transformed it “into a very successful one in only three years during tough economic times.”
Perillo owns a BMW dealership in Gold Coast in Chicago, founded in 1981. The company has approximately 100 to 500 employees. Its annual revenue is estimated between $100 and $500 million.
Most of this revenue comes from vehicles, although the dealership also sells luxury jewellery. Perillo BMW was the first BMW dealership in Chicago and has become a widely-recognised dealership in the local area.
Perillo founded Perillo Lincoln Mercury in 1983, and its annual revenue is estimated to be $2.7 million.
He sold the company in 2012 for an unspecified amount. Perillo also founded Perillo Saab in 1987 and sold the company in 2012. The company has an estimated yearly revenue of less than $5 million.
Perillo founded Perillo Bentley in 2009, and the company operates in Downers Grove across the Chicago market. The company began selling Lamborghini models in 2014 and has an annual revenue of approximately $4 million.
Perillo owns a certified collision center named Perillo Collision, which specialises in testing and repairing vehicles. It is estimated to have annual revenue of less than $5 million.
Outside of Chicago, Perillo owns a Nissan dealership in Jackson, Michigan. The dealership sells new and used cars. It has an estimated revenue of less than $5 million annually and employs less than 25 individuals.
Additionally, Perillo has branched into the hospitality industry with Hotel Chicago West Loop, founded in 2019. It is estimated to have annual revenue of approximately $322,466. The hotel has 117 rooms and charges approximately $139 per night.
Salary
Perillo worked as a Cadillac salesman in Chicago for several years. It is unclear how much he earned in this position.
However, he likely earned a commission from every car sold. Currently, a Cadillac salesman earns approximately $63,335 in the United States.
Perillo was a Chicago Board of Trade member for an unknown number of years. It is unclear what Perillo’s exact job title was here, although the average salary of a Board member is currently around $111,000 per year.
Additionally, Perillo used the money from this job to buy a Pontiac dealership. This costs anywhere between $200,000 to $500,000 today, so we can expect that Perillo paid a lower price in 1975.
So, his salary at this time must have been high for him to pay these fees.
It is unclear how much Perillo’s salary was from his BMW dealership. However, it was enough for him to purchase a Lincoln Mercury dealership in 1983 and a Saab dealership in 1987.
In 2009, Perillo purchased a dealership valued at $6.6 million in Chicago. He did this through a foreclosure suit and was granted a bank loan to purchase this, so it is clear that his salary was high to accommodate these costs. Additionally, Perillo purchased other dealerships – a Rolls Royce in 2011 and Maserati in 2012 – so it is clear that he had a substantial salary during this period.
Real Estate
Perillo’s home address is unknown. However, in 2009, he purchased land on the Northwest Side of Chicago. The land is approximately 79,000 square feet and also features a building that is roughly 24,377 feet. Perillo paid $4 million for this land.
In 2015, Perillo purchased a piece of land for $1.5 million, located on 6301-33 N. Western Avenue in West Ridge, Chicago. Perillo stated that he was not planning to turn it into a dealership, although he may convert the location into housing. Currently, half of the land includes several small stores with apartments, and the other half is empty.
Additionally, Perillo sold some of his land at 530 West Chicago Avenue in 2018. It was approximately 9000 square feet and was bought by Sterling Bay for $15.5 million.
Early life
It is unknown when Perillo was born and his parents’ names. However, he has specified that he was born in the Chicago area. He grew up in a community that was predominantly Italian.
Perillo’s father passed away when Perillo was 12 years old, leaving him as the man of the house. He could not attend college due to the high fees and needed a way to support his family.
So, Perillo joined the army and served the country in Tacoma, Korea, and Washington.
Career
After working in the army for three years, Perillo decided to return to Chicago.
On his return, Perillo started selling cars. He was particularly interested in Cadillacs and focused on selling these vehicles. Perillo became a very successful Cadillac salesman, as he soon began selling the most Cadillacs across America.
Soon after, Perillo joined the Chicago Board of Trade for a few years. However, Perillo grew tired of this job because he was more passionate about selling cars.
In 1976, Perillo bought a Pontiac dealership in Lincoln Park, Chicago. At the time of buying, the Pontiac dealership suffered from large losses and was considered by many to be a failed business. He sold this franchise in 2012 after 37 years of running operations.
However, in a few years, Perillo turned the business around.
It eventually became a successful enterprise in three short years. After this success, Perillo decided to expand his dealership franchise by purchasing a BMW franchise. This franchise opened in 1981 and became the first BMW dealership in Chicago.
Shortly after opening the BMW franchise, Perillo decided to further develop the Perillo Group by purchasing Perillo Lincoln Mercury in 1983 and Perillo Saab in 1987. He sold both of these in 2012 for an unspecified amount.
In 2009, Perillo continued to develop the Perillo Group as he bought a Bentley, Lamborghini, and Bugatti Dealership. A few years later, Perillo purchased a Rolls Royce and a Maserati dealership in 2012.
In 2016, Perillo entered the hospitality industry after he opened Hotel Chicago on the West Side of Chicago. However, a few months after opening, Perillo faced a lawsuit from another hotel in Chicago with the same name.
They attempted to sue Perillo for copyright infringement before dropping the case in 2017.
Career Highlights
- Sold Cadillacs and became best-selling Cadillac salesman in America
- Briefly joined Chicago Board of Trade
- In 1976, Perillo bought a Pontiac dealership
- In 1981, Perillo bought a BMW dealership
- In 1983, Perillo bought Perillo Lincoln Mercury
- In 1987, Perillo bought Perillo Saab
- Continued buying luxury dealerships in 2009-2012
- In 2012, sold Saab and Lincoln Mercury
- In 2016, opened Hotel Chicago
Personal Life
Perillo has been married to his wife, Patricia, for over 50 years, although the exact date of their marriage is unknown. He met Patricia during his time as a Cadillac salesman.
The pair have two children, a daughter named Trish and a son named Joseph. Perillo has four grandchildren, including one grandson and two granddaughters.
Perillo’s company is a family-run business. Joseph has worked alongside his father since he was 9, whereas Trish is the Managing Director of Perillo BMW.
Perillo is a devout Christian.
Interesting Facts
- In 2022, Northwood University granted Perillo the Dealer Education Award for his work in the educational field.
- Perillo says that he operates his business according to the ‘Golden Rule.’ He aims to treat his customers and employees how he would like to be treated.
- Perillo’s Gold Coast dealership was the victim of a robbery in 2021. In less than a minute, masked robbers entered the store and stole over $1 million worth of luxury watches.
- In 1990, Perillo Pontiac was the subject of controversy after it emerged that two Chicago police members had traded luxury cars for more conspicuous cars for undercover operations. However, the Chicago Police Department stressed that no laws had been broken in the exchange.
- In 2019, Perillo’s BMW branch faced a lawsuit after being accused of disposing of waste material in the Chicago River. The lawsuit is ongoing.
Federal lawsuit accuses Joe Perillo’s BMW dealership of illegally dumping enough dirt, sand and rock into the Chicago River to cause a N. Branch sea wall to collapse https://t.co/vGov61L9RF
— Steve Daniels (@stevedaniels27) November 26, 2019
Summary
Joe Perillo is a well-known luxury car salesman in Chicago. He owns several luxury dealerships, including Rolls Royce, BMW, Bentley, Bugatti, and Lamborghini.
He is the founder of the Perillo Auto Group and also owns Hotel Chicago. He has a net worth of approximately $16 million.