Bar Restaurant In West NW Suburbs Of Chicago For Sale

Business description

This bar/restaurant is a full-service bar & restaurant located in the heart of a downtown area in the West/Northwest suburbs
of Chicago. It consists of 2 floors plus a basement, a full-service bar on each floor, a stage for bands and live music, an outdoor patio, an excellent reputation and menu.

It's located on a major, high traffic street with more than 36,000 cars driving by the front door each day. This business has a very strong reputation in the area and has been in business for more than 13 years. When you see this place in person, you'll see that the owners did a fantastic job on the build out. You really have to see this place in person. The pictures do not properly convey how beautiful this place really is.

The current owners of the business also own the property. The asking price for the property is $1,600,000. The asking price for the business is $795,000 plus inventory.

The current owners have no involvement in the day to day operations. They are running it absentee & have managers in place to run the business in their absence. They prefer to sell the business to someone who has the time to manage the business. Some people dream of building the local hot spot. Others prefer to let somebody else deal with the headaches of building & opening a business and acquiring it after all the hard work and headaches are over. Now's your chance to acquire a very successful business that has the potential to do even better.

Property information

Real Estate:

Real Property Included

Location:

This bar/restaurant is a full-service bar & restaurant located in the heart of a downtown area in the West/Northwest suburbs of Chicago. It's located on a major, high traffic street with more than 36,000 cars driving by the front door each day. Lot Size: 2,291 Sq.Ft. Building Construction: Brick Number of Stories: 2 Plus Full Basement Building Size: 4,187 Sq.Ft. (Including Kitchen) Parking: Street/Parking Garage RE Taxes: $13,000.00/year

Premises details:

Seating Capacity: 1st Floor Capacity: 80 2nd Floor Capactiy: 69 Seating/1st Floor: 50 Plus 12 at Bar Seating/2nd Floor: 40 Plus 10 at Bar Seating/1st Floor Patio: 24 Seating 2nd Floor Patio: 26 Square Footage:(approximate) Basement (Kitchen): 1,373 1st Floor: 1,725 2nd Floor: 1,089 Total Area: 4,187 (Excluding Patios)

Size in square feet:

4,187

Business Operation

Expansion potential:

Due to the fact the owners are not managing the business on a daily basis, there are plenty of opportunities for a new owner/operator to take this business and make it even more profitable than it is currently. The business does not have cameras. Most businesses having the kind of cash sales this business has, have cameras recording what's going on before, during & after business hours. This helps deter theft, waste, over-pouring, giving away drinks, and allows the owners & managers the opportunity to see that the money is going into the register. Their labor costs could also be trimmed down quite a bit by sending employees home during the slow times and bringing them in later than they are currently coming in. www.ababusinessbrokers.com

Competition / Market:

There's plenty of competition in the area however, this place has always been the hot spot, due to the great location & reputation.

Reasons for selling:

The current owners have no involvement in the day to day operations. They are running it absentee & have managers in place to run the business in their absence. They prefer to sell the business to someone who has the time to manage the business

Trading hours:

Hours of Operation: Monday Thursday: 11:30 AM 1:00 AM Friday Saturday: 11:30 AM 2:00 AM Sunday: 12:00 PM 1:00 AM This business a full-liquor license allowing you to serve alcohol until 1 AM weekdays and 2 AM on weekends.

Employees:

43

Years established:

13

Other information

Support & training:

The owner is willing to provide some training for a qualified buyer.

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

The seller will considering some financing for a qualified buyer.

Furniture / Fixtures value:

$275,000 (included in the asking price)

Inventory / Stock value:

$60,000