Selling Restaurant
See More
About Us
Contact Us
Search Selling Restaurants Listings
#5320
Chicago Metro

Absentee - Profitable Restaurant & Bar - SBA Loan - Great Lease

$330,000
Available

ABOUT THE RESTAURANT AND BAR

This restaurant and bar brand has withstood the test of time, operating for more than 33 years in this upscale Chicago suburb and now this is your only chance to buy this great restaurant and it won't last long. 

The bar's coziness gives this restaurant something special. With the fire place warming the room and the ambiance of the people chattering with the sporting event on the many screens, this is where neighbors and friends meet to share great times, laughs and watch the games.  There is a full liquor license to make those meetings lively and fun. 

Each dining area is accented with fireplaces as well, making it even more cozy and relaxing to enjoy the super food and great service.  The menu is American comfort fare at reasonable prices with Google and Facebook giving the restaurant 4.1 stars.

Besides the great bar atmosphere, there is a banquet room and two dining areas, again all with fireplaces.  A working Owner will surely improve the operations of the business at every level and will add substantial profits and value to this business. 

There is a large outside patio seating 64 patrons and an interior seating 184 patrons. The restaurant is well maintained and pride of ownership shows everywhere. 

The Name, Menu and Recipes will be licensed to buyer for only this one location.

AMAZING LEASE: Okay, this lease is amazing and rare! If you buy the corporation, no landlord approval required and there is no personal guarantee!  Yes, you read it right!  No guarantee and no landlord to approve you!  But of course you're still going to need good credit and solid experience and prove you have the working capital to maintain the brand and quality of the business.  Or you can simple change the concept if you like!  This is a first class restaurant buildout. 

There are 5 years left plus a 2 five year option for 6,290 Sq. Ft. plus a large outside patio of about 900 Sq. Ft. The all-in rent is $9,008.

SOLID FINANCIALS: This business has solid tax returns and long history of profit.  2018 is expected to end on about the same note 2017 ended and 2019 is actually up compared to last year.  Owner Working Owner Cash Flow (WOCF) is about $127,000.  All-in Rent is ONLY 6.6% of 2017 Sales with food costs at 31% and labor costs at 34.0%. This broker believes there is opportunity to raise prices as people are expecting it with minimum wages increasing. A 5% increase translates into an additional $84,000 of cash. Phase several 5% increases in over the next two year and this business will throw off a lot of cash for the price you paid. 

SBA LOAN AVAILABLE: SBA will finance this transaction with about 20% down ($66,000, could be less down depending out Buyer's strength) at about 7.5% interest, amortized over 10 year. Monthly payment are $3,169, leaving an average of $7,400 of cash available to a working owner.  Do a 5% price increase and add another $83,000 of cash flow!

REASON FOR SELLING: Owners are getting up in age and are retiring. 

This is a Paramount Restaurant Brokers, Inc. DBA SellingRestaurants.com listing.
Broker Mel Jones DRE License #CA00893362 and AZ BR634507000

Lease

Region:
Chicago Metro
Lease Term:
5 Years + Two 5 Year Options
Total Monthly Rent:
$9,008

Financials

Last Year's Annual Gross:
$1,677,000
Last Year's Owner's Cash Flow:
$127,000
Last Year's Food Cost %:
31.0
Last Year's Payroll Cost %:
34.0
Last Year's Rent %:
6.6

Operations

Liquor License:
Full Liquor
# of Full-Time Employees:
19
# of Part-Time Employees:
25
Hours Open:
Daily 11 am - 1 am
Year Established:
1985
Hood System Type 1:
Yes
Hood System Type 2:
Yes

Facilities

Indoor Seating:
184
Outdoor Seating:
60
# of Parking Spots:
150
Inside Sq. Ft.:
6,290
Outside Sq. Ft.:
900

Highlights

  • Upscale area in Upscale Center
  • 33 Year History
  • Full Bar with Fireplace
  • Fireplaces in every room
  • Large Outside Patio
  • Perfect Books and Records
  • No Landlord Approval if Acquiring the Legal Entity
  • Absentee Operated
  • Well Maintained Building and Landscape
  • 6.5% Rent Factor with Today's Volume
  • No Significant Change from 2017 to 2018

Financing

Down Payment:
$66,000
Will SBA Finance:
Yes
Est. Monthly SBA Loan Payment:
$3,169
Est. Annual Interest Rate:
7.5%
Will Seller Lend To Buyer:
No

Demographics

Population 1-mi. 3-mi. 5-mi
2014 Total Population 28,017 70,831 268,249
Households 1-mi. 3-mi. 5-mi
2010 Number Of Households 11,689 27,110 100,154
2010 Persons Per Household 2.24 2.50 2.56
Median House Value $296,900 $344,227 $329,865
Income Per Household $72,060 $88,301 $87,700
Businesses 1-mi. 3-mi. 5-mi
2009 Number Of Businesses 1,141 2,799 9,993
2012 Number Of Employees 52,308 97,692 345,968
2012 Total Annual Payroll $1,872,890,000 $2,720,455,000 $4,294,967,295

click for more demographic info

Disclaimer

Notice: The User (that's you reading this) of this Website understands that Paramount Restaurant Brokers, Inc. ("Broker") or its agent(s) do not audit or verify any above information given to or gathered by Broker or its agent(s) from Seller, our Client, or make any warranties or representations as to its accuracy or completeness of the information provided, nor in any way guarantee future business performance. The User should perform a complete and detailed due diligence on the business and or real estate before buying it.  In some cases, forward looking statements may have been made but these statements are absolutely no guarantees of future performance of the business as each User has differing skills sets to either grow the business or kill the business.  Owning a business is a risky venture, but can also be a rewarding one.  The User of this website is solely responsible to examine and investigate the Business and or real estate, its assets, liabilities, financial statements, tax returns, and any other facts which might influence the User's purchase decision or the price the User is willing to pay. Any decision by User to purchase the Business shall be based solely on User's own investigation and that of User's legal, tax, and other advisors and not that of Broker or its agent(s). Any listing information may change at any time without any notice to User.

Other Listings in the Area
  • 100% Absentee - Family Restaurant/Bar - Real Estate - SBA Loan
    #5306
    100% Absentee - Family Restaurant/Bar - Real Estate - SBA Loan
    Lease:  
    Real Estate For Sale
    Annual Revenues:  
    $2,218,000
    Annual Adj. Net:  
    $361,482
    Square Feet:  
    4
    Facebook Twitter Google+ Email
    Available
    $2,800,000
    Down Payment $66,000

Terms Of Use     © 2019 Powered by BBMT Inc.