Restaurant & Bar for sale in Chicago………………………….........................$299,000 plus inventory
Chicago area – Sale includes: The entire business, all equipment & all fixtures.
This opportunity is unbelievable for a number of reasons. First, it is located at one of the busiest intersections in Chicago. There are over 60,000 cars that drive by each day. Second, the rent is far below average for the area. The rent was determined back in 1993 (when the lease was signed) and the area had changed dramatically for the better.
Another reason this is a wonderful opportunity is that the business does an average of $1,000 per day in sales (as stated by the owner) and he is very rarely ever at the bar. It would not take an owner/operator very much effort at all to increase sales. Cash is the only form of payment accepted. The current owner does not accept credit card payments. Adding a credit card payment option to the customers can only increase sales.
The space is really quite large, especially when you factor in the larger than necessary basement and below market rent. The rent, real estate taxes and water only amounts to an average of $70.00 per day! The main floor consists of a kitchen area, a bar, a dining area, men’s and ladies washrooms, a walk-in cooler, a walk-in freezer, an office area, and another storage area.
Asking Price: $299,000.00 plus inventory
Gross annual sales (approximately): $365,000.00 (As Stated By Owner)
Cash flow or net (approximately): $200,000.00 (As Stated By Owner)
Value of furniture, fixtures & equipment (approximately): $30,000.00
Value of inventory (approximately): $5,000.00 (not included in asking price)
Value of real estate (approximately): Not included in sale
Building, Lease details (approximately): Rent is approximately $2,100 a month including Taxes and Water. The Lease is good thru March 31st, 2018. The space is approximately 1,900 square feet. There are approximately 50 seats.
Seller Financing: Owners may discuss some financing with qualified & experienced buyer/operators.
Contact: Dennis, email@example.com or 312-360-1955