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    Address Not Available By Request

    Confidential, IL 99999
    • $950,000
    • STATUS: Active
    • ON SITE: 121 days
    • MLS #: 10626938
    UPDATED: 27 min ago
    $950,000
    • 0
      BEDS
    • N/A
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 5,358
      SQFT
    • $177
      $/SQFT
    Type:
    Business Opportunity
    County:

    School Ratings & Info

    Description

    Are you an Excellent Chef, Entrepreneur or an Investor looking for the perfect business opportunity then this boutique eclectic American Restaurant and Bar located in University Village is just perfect as a turn-key business for your current portfolio and/or new business venture. This full-service bar and restaurant for sale features everything you need to become successful in the nightlife, food and beverage industry from day one. The fully equipped commercial kitchen is updated with all equipment and inventory staying. This Fine Dining Restaurant and Bar for Sale has a grease trap, large hood system, walk-in cooler and plenty of hot and cold storage to support any menu a creative chef could dream up. The staff is stable, experienced and well trained. The owner will stay on for a negotiated period of time to assist with an easy transition. Fully built out and established turn key restaurant and bar with high exposure, due to the business being located near major university, pavilion, theater, public transportation and very business main street. Restaurant /Bar is approximately 5358 square feet with seating for 70 guest and license for outdoor seating. This turn key business comes with a tavern license, retail food license and a PPA License (Public Place Of Amusement) Which will allow the new owner to charge at the door for private events. Current operating hours are 5pm to 3am for late night food and cocktails, which could be open even earlier a the new owners discretion. *Tavern License *Retail Food License *Public Place Of Amusement License * Two 4 Year option lease. *Turn-key business *Sales averages around $25,000 a week *Lots of potential to increase current sales. *Seller Financing *Seller will assist with structuring the deal *Seller Financing Available Up-to $200,000

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    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Keller Williams Success Realty. Based on information submitted to the MRED as of 2020-06-05T20:51:13.437 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    www.lewkepartners.com/homes/102895057

    Address Not Available By Request Confidential, IL 99999

    • Price: $950,000
    • Status: Active
    • Updated: 27 min ago
    • MLS #: 10626938
    0
    Beds
    0
    Baths
    0
    ½ Baths
    N/A
    Acres
    5,358
    SQFT
    $177
    $/SQFT
    Neighborhood:
    Confidential Commercial Listings
    County:
    Cook
    Area:
    Confidential Commercial Listings
    Property Description
    Are you an Excellent Chef, Entrepreneur or an Investor looking for the perfect business opportunity then this boutique eclectic American Restaurant and Bar located in University Village is just perfect as a turn-key business for your current portfolio and/or new business venture. This full-service bar and restaurant for sale features everything you need to become successful in the nightlife, food and beverage industry from day one. The fully equipped commercial kitchen is updated with all equipment and inventory staying. This Fine Dining Restaurant and Bar for Sale has a grease trap, large hood system, walk-in cooler and plenty of hot and cold storage to support any menu a creative chef could dream up. The staff is stable, experienced and well trained. The owner will stay on for a negotiated period of time to assist with an easy transition. Fully built out and established turn key restaurant and bar with high exposure, due to the business being located near major university, pavilion, theater, public transportation and very business main street. Restaurant /Bar is approximately 5358 square feet with seating for 70 guest and license for outdoor seating. This turn key business comes with a tavern license, retail food license and a PPA License (Public Place Of Amusement) Which will allow the new owner to charge at the door for private events. Current operating hours are 5pm to 3am for late night food and cocktails, which could be open even earlier a the new owners discretion. *Tavern License *Retail Food License *Public Place Of Amusement License * Two 4 Year option lease. *Turn-key business *Sales averages around $25,000 a week *Lots of potential to increase current sales. *Seller Financing *Seller will assist with structuring the deal *Seller Financing Available Up-to $200,000
    Exterior Features

    Approx Land Sq Footage 5358 Location Central Business DistrictMixed Use AreaShopping MallPublic Transport Avail Lot Dimensions 1.25 Lot Sq Ft 30000 Number Of Parking Spaces 0

    Interior Features

    Air Conditioning Central Air Number Of Stories 1 Outdoor Parking Over 100 SpacesCommon ParkingCoveredFee ParkingLightedPrivate LotPublic Lot

    Property Features

    Adj Net Inc Expense Source Actual Adjusted Net Income 245047 Ann Rnt Expense Source Combination Annual Rent For Real Estate 45000 Business Age 1-3 Years Business Type Bar/Lounge/Nite ClubFood And BeverageRestaurant Corporate Limits Chicago Cost Of Goods Expense Source Actual Cost Of Goods Sold 391319 Cost Of Goods Year 2019 Electrical Service 201-600 Amps Food Beverage Type RestaurantFine Dining Gross Payroll 345990 Gross Payroll Expense Source Actual Gross Payroll Year 2019 Gross Profit 969994 Gross Profit Expense Source Actual Gross Profit Year 2019 Gross Sales Ann Expense Source Actual Gross Sales Ann Year 2019 Gross Sales Annual 1361314 Heat Ventilation Central Bldg HeatCentral Heat/Indiv Controls Inventory 275000 Inventory Expense Source Owner Projection Inventory Year 2019 Known Encumbrances None Known Living Quarters None Net Operating Income Year 2019 Net Profit 245047 Net Profit Source Actual Possession ClosingImmediate Property Offered For Sale Only Proprietary Info Profit And Loss Statement Real Estate Included YN No Sale Terms Owner May Help/Assist Seating Capacity 51-75 Tax Year 2018 Taxes 0 Tenant Pays Air ConditioningCommon Area MaintenanceElectricHeatInsuranceRepairs And Maintenance Total Op Exp Year 2019 Total Op Expense Source Actual Total Operating Expenses 588946 Type Of Lease Net LeaseBase + % Lease Zoning Type Other

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Ebonie Caldwell Realty Portfol.


    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Keller Williams Success Realty. Based on information submitted to the MRED as of 2020-06-05T20:51:13.437 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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