Tavern for sale in Chicago, Illinois, Tavern License

North side of Chicago – Sale includes: the Entire Business, all Equipment & all Fixtures.

Owner is willing to finance 35% of the purchase price (Business only)

This is a great opportunity to own a popular neighborhood tavern with a tavern liquor license. This is an extremely high traffic area on the North side of Chicago. Both the business and the property are for sale. This local watering hole has all the amenities; a tavern liquor license, outdoor/patio seating, 2 bars, a basement and a full kitchen. Tavern liquor licenses are very hard to come by and very desirable because you are not required to serve food. Should you choose to serve food, there is a kitchen. The tavern liquor license also allows you to serve alcohol until 2am daily and until 3am on Saturdays. The building is a one-story brick building containing a total of approximately 2,138 sq ft. There are also 2 outdoor parking spaces on the property.

The current owner just got married and his wife a received a great job offer in California. They decided she will accept the job offer if they can sell the business. The current owner purchased the business May 1st of 2008. The business is currently only open in the evenings. They don’t do any advertising. They also don’t serve any food. This place has a tremendous amount of potential for an owner/operator who understands that you need to advertise and you need to take advantage of the 26,100 cars driving by the front door each day. Giving the exterior and interior a facelift would also certainly increase the sales. Serving food would also increase sales as they are not currently offering food to the customers. A new owner could also increase sales by replacing the current staff and replacing the patio furniture with fresh, new, comfortable patio furniture.

Financial statements are not available at this time. A new owner will most likely change the concept and completely remodel and revive the entire business.

Note: The property is also available to purchase. The property owner is asking $795,000 for the real estate.

Purchase Price / Real Estate only = $795,000.00
Purchase Price / Business only = $146,000.00
Total Purchase Price / Business & R.E. = $941,000.00
Pictures of the property can be emailed upon request.

Asking Price/Business only: $146,000.00 plus inventory
Gross annual sales (approximately): +/-$264,412.00
Cash flow (approximately): n/a
Value of furniture, fixtures & equipment (approximately): $65,000.00
Value of inventory (approximately): $9,000.00 (not included in asking price)
Value of real estate (approximately): $795,000.00
Building, Property, Lease details (approximately): If the business is sold without the real property, the monthly base rent would be $5,113.24/month. The tenant will be responsible for the real estate taxes and the common area maintenance. The annual real estate taxes are +/- $22,434.97 or $1,869.60/month. The lot size is 2,890 sq ft. The building is 2,138 sq ft.
Seller Financing: Owners may discuss some financing with qualified & experienced buyer/operators.

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