Chicago Restaurants For Sale
Top-Notch Restaurant and Bar Facility w/Great Lease + Low Rent
Are you looking for a turn-key fully equipped restaurant and bar in an upscale CHICAGO suburb?
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 approval! But of course you're still going to need good credit and solid experience and prove you have the working capital to maintain a business. This is a first class restaurant build-out.
There are 4 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.
KITCHEN AND FACILITY: This restaurant and bar is fully equipped with a high production kitchen with two hood systems - one 20'+ and another 8' plus all the equipment to operate a full service restaurant. There is a huge digital street sign, that cost $40,000, and is controlled by a computer allowing the owner to advertise on the spot menu changes.
The bar's coziness gives this restaurant something special. There's are warm fireplaces creating an ambiance that warms-up your guests from the cold and keeps them coming back for more coziness and great food.
This is a perfect sports bar location with big screen T.V.'s serving hard liquor. 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.
Although the restaurant's name is not for sale, you can probably negotiate the menu with the current owners. The menu is American comfort fare at reasonable prices with Google and Facebook giving the restaurant 4.1 stars.
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.
FINANCIALS: THIS IS AN ASSET SALE. if you need to understand the current cost structure, that can be supplied.
REASON FOR SELLING: Owners are retiring.
Broker of Record Rob Tade DRE License #01339409
Lease
Financials
Operations
Facilities
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
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 STONE PATH BROKERAGE SERVICES CORPORATION ("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. DRE License # 01339409.