Available

Price: $175,000

Location: Chicago

Industry: Restaurant

If you are looking for a restaurant that is historically successful and on the north side of Chicago, this is it. This restaurant has been bringing back the same customers and consistently building on its following for nearly 20 years. The sellers are also willing to finance approximately 20% of the purchase price with the right buyer.

This is the perfect restaurant for a chef-owner or a food industry manager who can step in a run the front or back of the house or both. This business has been built to this point by a great chef who created a fantastic following. This specific restaurant sets the standard for its unique cuisine and it wins when compared to other cuisines as evidenced by awards it has received. This unique, high-quality, full-service restaurant concept in Chicago has earned it one of the most critically acclaimed statuses and most treasured loyal followings in the city. Boasting award-winning ethnic cuisine, the restaurant is visited regularly by people from the neighborhood and beyond with many customers eating there once or even twice a week. This business has become a destination for those seeking the best of its kind in the Chicago area and for those traveling from various parts of the world who often seek this location out when wanting to experience this cultural cuisine.

The key to its success has been the culinary sense, talent, and expertise of the owner-operator of the restaurant. The owner’s story has been featured in online magazines and in various ways, during the almost two-decade existence of this fine restaurant. This owner will stay on and train a new owner and also may be willing to work in a limited way for an on-going period in a part-time capacity.

The restaurant has a main dining area as well as a private room for catered events and it has not even been fully taken advantage of. Much more opportunity exists for a new owner to promote catered events in-site and also off-site. Customers can also sit in the main dining room of course or at the bar if they wish and partake in many offerings from the menu as the business has a full liquor license.

Inventory: Not included in asking price
Real Estate: Leased
Building SF: 4,000
Employees: 18
Furniture, Fixtures, & Equipment (FF&E): Included in asking price

Listing Details

SDE: $86,663

FFE: $75,000 (Included in Price)

Inventory: $10,000

Reason For Sale:

Begin the retirement phase.

Training & Support:

As much as needed and as agreed during the purchase process.

Operation

Year Established: 2000

Location

Monthly Rent: 6500

Type of Location: High Traffic urban

Square Footage: 4000

Facilities Information:

Approximately 4000 sq ft restaurant with a full-service dining area including a bar and also a separate private party/catering room. Total occupancy of approximately 156. Remodeling was done in 2014 to enhance an already very welcoming environment. Modern and clean with great storefront exposure in a popular and growing north side neighborhood.

Summary

Competition:

A small handful of restaurants of a somewhat similar style cuisine do exist in Chicago but none has achieved the award status or accolades of this restaurant. This restaurant sets the standard in terms of quality and hospitality.

Potential Growth:

A new owner could be more dialed in with social media advertising and various marketing aspect of this type of business. The cuisine is not as broadly known as some and yet it is very highly regarded by those who have become aware of it. The catering side could be promoted much more heavily as there is space onsite to accommodate small groups and/or book the entire space for parties.

Financing/Terms:

Seller may finance up to 20% with a qualified buyer.