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Banquet Hall/Restaurant for Sale in Chicago, IL, Northwest Suburbs...$3,450,000 plus inventory

SOLDNorthwest Suburbs of Chicago – Sale includes: The Real Estate, the Entire Business, all Equipment & all Fixtures.
Price Reduced!
Owner is Retiring

This full-service banquet hall/restaurant is located in the Northwest Suburbs of Chicago. The exact location will be disclosed once a confidentiality agreement is signed.  It is a very busy location with over 20,900 cars driving by the front door of the banquet hall each day.  This banquet hall is well known in the community for 2 reasons.  The first is the wonderful food and expansive menu.  The other reason is the business has been serving people in the community for over 50 years. It’s a very, very consistent business, even in this economy. 2008 sales were $2,148,691.00. 2007 sales were $2,166,967.00. 2006 sales were $2,366,175.00.
The restaurant has over 560 seats, 3 banquet rooms, 3 bars, plenty of parking and a huge kitchen.  The business has a full liquor license. In addition to hosting weddings, retirement parties, luncheons, anniversary parties, holiday parties, & fashion shows, they also do outside catering.
Total Purchase Price/Business & Real Estate: $3,450,000.00 plus inventory
Gross annual sales (approximately): $2,148,691.00 (2008 reported)                          
Cash Flow (approximately): $336,069.00 (2008 reported)
Value of furniture, fixtures & equipment (approximately): $275,000.00
Value of inventory (approximately): $35,000.00 (not included in asking price)
Building, Property details (approximately): Gross Building Area is over 22,500 square feet, Seating for approximately 560 people. Real Estate Taxes=+/-$62,554.00
Seller Financing: Seller might consider with experienced and qualified buyer.
Contact: Dennis, or 312-360-1955

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