Chicago, Illinois - Includes: Business Entity, All Equipment & Fixtures.
Are you looking for a successful restaurant in a great location with a long history at a bargain price? You just found it. This restaurant has been operating for 20 years. Six years ago it was located in the same strip center and moved to a new space. The new space used to be a retail store so it had to be gutted and the restaurant was built from scratch. The owner spent over $900,000.00 on the build-out and equipment. That’s great news for a buyer/new owner. The restaurant and equipment are only six years old. Everything has been well maintained. Why spend the time and money building a new restaurant when you can have this one for a fraction of the price?
The restaurant is currently operating as a full-service restaurant serving breakfast, lunch, dinner and late night snacks. Very recently, they also started offering delivery and outside catering. As a result, 2008 sales appear that they will exceed 2007 sales. At least part of the restaurant’s success can be attributed to the great location. There are over 33,400 cars driving by each day. Also, the shopping center where the restaurant is located is a destination spot with many other successful national retail chains, helping to attract consumers to the shopping center. This is a big restaurant in a high traffic area with great food and plenty of potential for growth. With approximately 175 seats, the Restaurant is 5,529 sq ft plus a 5,500 sq ft basement! There is plenty of space and you won’t have to do any remodeling anytime soon. This is a beautiful restaurant and a great deal.
Note: Pictures of the restaurant can be emailed to you upon request
Asking Price: $549,000.00 plus inventory
Gross annual sales (approximately): $1,820,700.00
Cash flow or net (approximately): $261,543.00
Value of furniture, fixtures & equipment (approximately): $226,000.00
Value of inventory (approximately): $35,000.00 (Not Included in Asking Price)
Lease details (approximately): Lease Expires 3/31/2027 (Including Options), Base Rent; R.E. Taxes, C.A.M & Water.: approx. $14,300.00/Month, Approx. 5,529 Sq.Ft. plus a 5,500 sq ft basement!! Approx. 175 Seats
Seller Financing: Owner will consider some financing with qualified & experienced Buyers
Contact: Dennis, email@example.com or 312-360-1955