Aluizio Riberio’s latest harvest hauled in a 100-year-old Hinsdale mansion once threatened by demolition.
His downstate soybean procession company Incobrasa Industries, which specializes in the production of biodiesel, vegetable oil, and other soybean-derived products, was the entity that purchased the Hinsdale home at 420 South Park Avenue for $6 million, or $835 per square foot, Crain’s reported.
The mansion was previously owned by Jameson Sotheby’s International Realty’s Mimi Collins, a local real estate agent and preservationist. Collins purchased the home in 2021 for $1.8 million following an agreement with the village board to help preserve the century-old property.
After a complete restoration, Collins listed the property earlier this year for $7 million, $1 million shy of the price Incobrasa paid.
Incobrasa Industries is owned by the Ribeiro family, with Aluizio Ribeiro serving as president and CEO. While Ribeiro didn’t immediately comment on the purchase, his involvement in the local community has been well documented.
Aluizio and his wife, Sabrina, have been recognized for their contributions to local charity events, as highlighted in Hinsdale Living magazine. Despite their visible presence in Hinsdale, DuPage County records don’t list the Ribeiros as homeowners under their names.
Incobrasa’s roots trace back to Brazil, with founder Renato Ribeiro making a move to Illinois, where he began acquiring agricultural land. As of early 2024, Incobrasa, based in owned over 12,500 acres, according to a study by the Illinois Society of Professional Farm Managers.
Built in 1924 by renowned architect Alfred F. Pashley, the Hinsdale home has a French Eclectic aesthetic with six-bedroom, six-bathrooms and modern amenities. Spanning over half an acre on a corner lot, the residence features a stucco exterior, steel casement windows, a slate roof and handcrafted iron details.
Collins’ efforts to restore the mansion disrupted a wave of scrape-and-replace moves by other Hinsdale buyers seeking land in the wealthy western suburb on which to build their own new homes, a trend still prevalent today.
No real estate agent has been identified as representing Incobrasa in the mansion’s purchase.
— Andrew Terrell
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