Businesses for Sale in or Near Chicago, Illinois
Bar/Nightclub w/Property for Sale in Chicago's West Burbs (operating)....$989,000 plus inventory
Near Elmwood Park, Melrose Park, & Elmhurst, (In Cook County)
Sale Includes: The Real Estate, the Entire Business, all Equipment & all Fixtures
Total Purchase Price/Real Estate & Business = $989,000 plus inventory
Seller Financing Available!!!!
This business is currently run as a night club with very limited hours of operation. They are only open Wednesday thru Sunday from 9:00 PM – 2:00AM. Even with very limited hours of operation, they average about $30,000 per month in sales. As you walk in, there is a large bar to the right, which has seating for 22 people. To the left is a very contemporary lounge area accented by leather couches and a view of the large patio. Half of the patio is covered and the other half is un-covered. There is a coin-operated pool table and plenty of outdoor seating. Inside, there is a huge kitchen with two walk-in coolers and all the kitchen equipment you need to prepare a full, expansive menu, including a pizza oven. The current owner does not serve food at this time and the liquor license does not require you to serve food. There is also an office, which doubles as a liquor storage room, and a men's and women's restroom. Both restrooms were completely remodeled, along with much of the interior, in 2009. The business also has a 15-camera surveillance system which can be viewed online.
The current owner states that the sales are approximately 95% cash and only 5% credit card sales. You'll also notice in the monthly operating expenses that they have no advertising expense and yet they still manage to do $30,000 per month in sales. Part of their success is obviously due to the location. This business is located on one of the busiest streets in the area, with over 24,000 cars driving by each and every day. You don't have to do much advertising when you have a location like this place does.
Aside from the tavern liquor license, which allows you to serve alcohol without requiring you to serve food, the great location, large patio, and the potential to drastically increase sales simply by expanding the hours of operation and opening the kitchen, another very attractive aspect of this deal is that the current owner's mortgage note on the business and property is assumable for an experienced and financially qualified buyer. The monthly note payments are $4,381.25. This place has a lot of potential for future growth plus seller financing is available!!
Note: Pictures of the property can be emailed upon request.
Total Asking Price/Real Estate & Business: $989,000.00 plus inventory
Gross annual sales (approximately): $360,000.00 (as stated by owner)
Value of furniture, fixtures & equipment (approximately): $80,000.00
Value of inventory (approximately): $12,000.00 (not included in asking price)
Hours of Operation & Type of Liquor License: Current hours of operation are Wed–Sun 9pm to 2am, only 25 hours per week. The liquor license is a 2am Tavern Liquor License.
Building & Property details (approximately): Gross Building Area is 3,231 sq ft plus 1,200 sq ft patio, Seating for 67 people inside plus 51 seats outside. RE Taxes = +/-$24,752/yr. Property includes a large parking lot with approximately 60 parking spaces. One story building. Great location with 24,000 cars driving by each day.
Seller Financing: Current note is assumable for qualified & experienced buyer/operators with 25% down payment.
Contact: Dennis, email@example.com or 312-360-1955
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