Legendary Chicago Nightclub & Bar w/Real Estate ~ Huge Value & Upside!

Asking Price$1,400,000

Cash Flow
Not Disclosed

EBITDANot Disclosed

Gross RevenueNot Disclosed

InventoryNot Disclosed

FF&ENot Disclosed

Real Estate$2,090,000
Included in asking price
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Legendary Chicago Nightclub & Bar w/Real Estate ~ Huge Value & Upside!


Asking Price$1,400,000

Cash Flow
Not Disclosed

EBITDANot Disclosed

Gross RevenueNot Disclosed

InventoryNot Disclosed

FF&ENot Disclosed

Real Estate$2,090,000
Included in asking price

Seller Financing Available
Business Description
This is a rare chance to own a piece of Chicago's night-life history and with a PPA License already in place there is so much opportunity here! This legendary venue is now up for sale and complete with real estate, business, inventory and a 3 bedroom, 1 bath apartment on the 2nd floor (Great for generating extra income or owner occupant). Owned & operated for 33 years and the current owner in now semi-retired and has scaled back operations to just 3 nights a week and is ready to turn over his hat to the next savvy business owner. No financial statements have been provided by the owner at this time and interested buyers should be prepared to conduct their own due diligence. The property/business is priced accordingly as an appraisal was done in February, 2020 and appraised out for $2,090.000 so this current sales price presents an opportunity for a hands-on operator to build value. Zoned B3-1 ~ With high visibility and an estimated 30,000 to 50,000 vehicles that pass by per day (IDOT), this is a great location for a Southwest side of Chicago bar/nightclub/restaurant to continue on.
About the Business
Years in Operation
33
Currently Home Based
Yes
Facilities & Assets
Included all equipment, furniture in club/bar, state of the art recently purchased "Dass" sound system that was recently purchased at apx. $10,000; smart lighting system, video monitoring & concert speakers, pool table, (5) TVs, tables, chairs, lighting, lounge booths, walk-in-cooler with a brand-new compressor & coil fan, (2) AC units (1) is new and (1) has new major parts. The roof was a complete tear off 3 years ago ~ An inventory list will be provided once received from owner. There is also a huge basement for extra storage with a "Dumbwaiter"
Market Outlook / Competition
This go-to-destination and popularity among the area = more clubs = more visitors = more potential customers
Opportunities for Growth
The once iconic nightclub operated 7 days a week drawing in crowds, top tier music and loyal clientele ~ In recent years, the owners decision to retire, operations have scaled down and is currently operating 19 hrs a week; Wed & Friday from 8 p.m. to 2 a.m. & Sat from 8 p.m. till 3 a.m. ~ re-introduce weekday operations tapping into "Happy hour crowds, live music, commedy shows, corporate parties, fashion shows, birthday parties, add food bites and push marketing to reach new demographics ~ the next chapter can now be yours
Real Estate
Owned or Leased
Owned
Included in asking price
Building Sq. Ft.
8,000
About the Sale
Seller Motivation
Retiring after 33 years of owning the business
Transition Support
Owner can provide (1) month of training (Compensation negotiable)
Financing Options
Owner will consider partial owner financing
Listing Info
ID
2424393
Listing Views
37

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Business Listed by: Paula Boudos Keller Williams Preferred

Listing ID: 2424393 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.


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