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Restaurant & Bar for sale in Rockford…………………….……......................$299,000 plus inventory
 
Rockford, Illinois – Sale includes: The entire business, all equipment & all fixtures.

SOLDThis is a classy yet casual full service restaurant with a bar and a full liquor license.  The menu consists of steaks, seafood, pasta, chops, salads, sandwiches, appetizers and desserts.

This location has been a restaurant since 1970.  The previous owners retired due to health and age and sold to the current owners in 2006.  The property was immediately given a major facelift and some much needed remodeling.  The former bar and dining areas were merged into one open and inviting room, perfect for the new non-smoking dining environment.

After remodeling, the restaurant opened to the public in the middle of September, 2006.  For the 1st six months, the average monthly gross sales were $89,293.86.  Then in April of 2007, due to the rapidly growing community, the most comprehensive roadwork in the history of the area began.  The restaurant is located in a large strip mall with three main entrances.  Due to the road construction, the two closest entrances to the restaurant were closed completely.  Since those two entrances have been closed the average monthly sales have dropped to $71,946.07.  The roadwork is scheduled to be completed in October and appears to be on-schedule.

This business truly has a tremendous amount of potential.  Prior to the road expansion, there were approximately 52,000 cars driving by the restaurant each day.  Soon, the roadwork will be finished and the traffic is sure to increase.  The timing is right also.  Most restaurants get busier in October and go strong until May, when school lets out and summer begins.  Another area of opportunity is that the 2nd largest employer in the area is directly across the street.  This company employs over 2,300 workers.  This is the closest restaurant to this massive employer and the perfect place for their employees to have lunch or to unwind after work. Unfortunately, with the road construction, it is very difficult to get to the restaurant, with two of the three entrances closed off.  When you only have an hour for lunch you don’t have time to be stuck in construction traffic.  Soon, that won’t be an issue.

Asking Price: $299,000.00 plus inventory
Cash Flow or Net (approximately): $100,386.00 (As Stated By Owner)
Gross Annual Sales (approximately): $927,814.72 (As Stated By Owner)
Value of Furniture, Fixtures & Equipment (approximately): $105,000.00
Value of Inventory (approximately): $8,000.00 (not included in asking price)
Value of Real Estate (approximately): Not included in sale
Building, Lease details (approximately): Rent is approximately $2,350.52 a month.  The space is approximately 2,400 square feet. There are approximately 115 seats, including the seats at the bar.
Seller Financing: Owners may discuss some financing with qualified & experienced buyer/operators.
Contact: Dennis, info@abausa.com or 312-360-1955

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