If you are looking for a neighborhood bar/tavern with tremendous potential in a great location for a bargain price, look no further, you have just found it.  The location doesn’t get much better than this.  This bar/tavern is located in the one of the fastest growing areas of Chicago and has a 2:00am liquor license (3:00am on Saturday).

Tremendous potential is really an understatement.  If you look at the operating expenses, you’ll see that the current owner isn’t doing any advertising.  With over 25,000 students, 12,000 faculty members and 4,000 hospital employees within a couple of blocks, this is a huge area of opportunity for a new owner.  Another reason this bar has so much potential is that the current owner is completely absentee.  He is not involved in the day to day operations, yet the place still makes money! 

The current owner bought the business approximately 15 years ago.  Since then, the neighborhood has undergone a major transformation.  This neighborhood tavern attracts sports fans and college students due to the multiple TVs, pool table, dart board, jukebox, mega-touch video game and cheap beer.  The menu consists mainly of sandwiches, fried foods, soup, chili, hotdogs and polish sausage.  The food is very good and very reasonably priced.  The owner states that he hasn’t gotten around to raising the prices for approximately 10 years.

 

Asking Price: $1,795,000.00 plus inventory

Gross annual sales (approximately): $572,000.00 (estimate)

Cash flow or net (approximately): $185,000.00 (estimate)
Value of furniture, fixtures & equipment (approximately): $120,000.00
Value of inventory (approximately): $20,000.00 (not included in asking price)

Building, Property, Lease details (approximately): Building Area is +/- 4,800 square feet, Seating for approximately 75 people.
Seller Financing: Owners may discuss some financing with qualified & experienced buyer/operators.
Contact: Tony, info@abausa.com , American Business Acquisitions, Inc. 312-360-1953