Chicago SW Suburbs Bar & Billiard Hall With Property For Sale

Business description

This is a full service bar and state of the art pool hall located in the South/Southwest suburbs of Chicago with 41,700 cars
driving by the front door each day. The pool hall was voted one of the top 10 best pool halls in the United States.

All the equipment was purchased "new" in 2009. After acquiring the building and property, the owners began remodeling. Some of the work they did included; a new 3,500 Sq Ft addition on the back, new heat and A/C (2-10 ton roof mounted units with spiral duct work), new sewers, catch basin, plumbing, electrical panel on south wall, new conduit and wire, poured new concrete floors, had the metal roof resealed, new hot water heaters and replaced the glass in front with 1" thick glass.

This pool hall & bar consists of a very large bar with 30 seats around it, a full kitchen, a private lounge area with 2 dart boards (upstairs), 24 pool tables, an outdoor patio (in back), 3 offices and multiple video games. The kitchen is currently rented by a gentleman and his wife for $1,300 per month. There's no lease and they have been renting the kitchen since 2006. All the kitchen equipment is owned by the business. The couple renting the kitchen pay their own cooks and 2 servers and receive all proceeds from the sale of the food. The seating consists of 25 seats upstairs, 30 seats at the bar, 17 seats in the bar area and 116 seats scattered throughout the pool hall.

Due to the current owner's concern about confidentiality, all potential buyers will be required to fill out a short Financial
Statement to show they are financially qualified before receiving exact name and location of this extremely busy Bar/Billiard Hall.

Property information

Real Estate:

Real Property Included

Location:

Confidential, Chicago SW Suburbs

Premises details:

Parking for about 67 cars plus an additional 50 spaces next door. RE Taxes = +/-$27,00.00/yr. Building is 11,305 sq ft. Lot size is 28,675 sq ft.

Business Operation

Expansion potential:

Video gaming (video poker) was recently approved in this city. It's important to note that the cities surrounding this pool hall & bar voted against it, so it's the only city in the immediate area that will have video gaming. They are adding 5 poker machines in the coming months. This will not only add an additional revenue stream for whoever buys this business, it will also attract more business for the bar and pool hall & increase bar sales & food sales & pool table rentals.

Competition / Market:

Currently, they do not accept credit cards. The customers have to pay with cash. They have a website, however, updating it with better pictures, daily specials and more information would go a long way. Also, expanding the menu and serving better quality food would help as well. The current food is mostly greasy bar food and pizza. This business has a ton of potential for a new owner!

Other information

Owner financing:

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

Financing available:

Owner may discuss some financing with qualified & experienced buyer/operators.

Furniture / Fixtures value:

$243,161 (included in the asking price)

Inventory / Stock value:

$55,000

Lease asking price:

$775,000 (Furniture / Fixtures included)