Beautiful Italian Restaurant In West Suburbs Of Chicago For Sale

Business description

Purchase Price / Real Estate = $460,000.00
Purchase Price / Business = $65,000.00
Total Purchase Price / Business & R.E. = $525,000.00

This restaurant is a full-service Italian restaurant and bar with a fantastic reputation, located in a historic downtown area of
the Western suburbs of Chicago. During the warmer months, they have some additional seating outdoors, directly in back of
the restaurant.

The current owner lives in South Florida. His son and daughter moved up here from South Florida to manage the restaurant. Unfortunately, they are homesick and wish to return to South Florida, where they grew up. The restaurant specializes in quality Italian cuisine in an elegant dining atmosphere. The menu includes prime cuts of steak & chops, fresh seafood, veal & chicken dishes, as well as dozens of reasonably priced pasta dishes. An extensive wine menu is also available.

There is a large market to tap into for catered meals providing quality food that people crave as opposed to the standard fast food options. Private family parties, social functions and businesses are all great opportunities for additional revenue. This restaurant is also only open for lunch on Thurs & Fri, so opening for lunch the other 5 days would increase sales even further. Another area of opportunity is to stay open later & open on Sun & Mon. They are only open until 9pm on Tues & until 10pm Wed-Sat. Most restaurants are open later. Note: The current owner prefers to sell BOTH the business & property together, due to the fact he lives in Florida.

Property information

Real Estate:

Real Property Included

Location:

This business is located in a very busy suburban downtown area in the near West Suburbs of Chicago.

Premises details:

This is a truly beautiful restaurant. Do yourself a favor & request pictures of the restaurant. The previous owner really did a wonderful job on the build out & interior design. The restaurant has a fully equipped kitchen, a bar, approximately 50 seats inside & 50 seats outside. There is plenty of street parking available and the train station is directly in front of the restaurant (across the street). The space is 2,144 sq ft plus a basement. RE taxes are about $9600/year.

Business Operation

Expansion potential:

The historic downtown location allows for it to market to a very population-dense area, including many local businesses. Private family parties, social functions and businesses are all great opportunities for additional revenue. This restaurant is also only open for lunch on Thurs & Fri. Opening for lunch the other 5 days would increase sales even more. Another area of opportunity is to stay open later & open Sun & Mon. They are only open until 9pm Tues & until 10pm Wed-Sat. Most restaurants are open later.

Competition / Market:

This is a full service Italian restaurant and bar located in a popular downtown area and is one of the area s premier dining establishments. The restaurant specializes in quality Italian cuisine in an elegant dining atmosphere. The menu includes prime cuts of steak & chops, fresh seafood, veal & chicken dishes, as well as dozens of reasonably priced pasta dishes and an extensive wine menu. The restaurant opened for business in 1990 and has received glowing reviews from critics and customers alike.

Reasons for selling:

The current owners are from Florida & want to move back due to the weather here.

Employees:

25

Years established:

1990

Other information

Support & training:

The restaurant is currently managed by the owner's son & daughter in law. They will provide the necessary training to ensure a successful transition for a new owner.

Owner financing:

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

Financing available:

Seller might consider some financing for a well-qualified buyer.

Furniture / Fixtures value:

$155,000 (included in the asking price)

Inventory / Stock value:

$12,000