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ABOUT THE RESTAURANT AND BAR: This restaurant and bar has withstood the test of time, operating for more than 33 years in this upscale Chicago suburb and now this is your only chance to buy this great restaurant and it won't last long.
What gives this restaurant the charm is the coziness of the bar area, where neighbors and friends meet to share great times, laughs and watch the games. There is a full liquor license to make those meetings lively and fun.
Each dining area is accented with fireplaces, making it even more cozy and relaxing to enjoy the super food and great service. The menu is American comfort fare at reasonable prices with Google and Facebook giving the restaurant 4.1 stars.
Besides the great bar atmosphere, there is a banquet room and two dining areas, again all with fireplaces. A working Owner will surely improve the operations of the business at every level and will add substantial profits and value to this business.
There is a large outside patio seating 64 patrons and an interior seating 184 patrons. The restaurant is well maintained and pride of ownership shows everywhere.
The Name, Menu and Recipes will be licensed to buyer for only this one location.
AMAZING LEASE: Okay, this lease is amazing and rare! If you buy the corporation, no landlord approval required and there is no personal guarantee! Yes, you read it right! No guarantee and no landlord to approval! But of course you're still going to need good credit and solid experience and prove you have the working capital to maintain the brand and quality of the business.
There are 5 years left plus a 2 five year option for 6,290 Sq. Ft. plus a large outside patio of about 900 Sq. Ft. The all-in rent is $9,008, giving this business a low 6.6% rent factor in 2018.
SOLID FINANCIALS: This business has solid tax returns and long history of profit. 2018 is expected to end on about the same note 2017 ended on with Working Owner Cash Flow (WOCF) of about $127,000. All-in Rent is ONLY 6.6% of 2017 Sales with food costs at 31% and labor costs at 34.0%. This broker believes there is opportunity to raise prices as people are expecting it with minimum wages increasing. a 5% increase translates into an additional $84,000 of cash.
Sales 1,699,049 100.0%
Food Costs 525,642 30.9%
Labor Full Burdened 559,178 32.9%
Rent 109,638 6.5%
Other Costs 383,211 22.6%
Cash Flow 121,380 7.1%
* Year-To-Date (YTD) represents periods 9 of 13.
SBA LOAN AVAILABLE: SBA will finance this transaction with about 20% down ($66,000, could be less down depending out Buyer's strength) at about 7.5% interest, amortized over 10 year. Monthly payment are $3,169, leaving an average of $7,400 of cash available to a working owner. Do a 5% price increase and add another $83,000 of cash flow!
$108,096 (USD) per annum
Daily 11 am - 1 am
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