Hot Listing

Legendary Chicago Nightclub & Bar w/Real Estate

Asking Price$1,400,000

Cash Flow
Not Disclosed

EBITDANot Disclosed

Gross RevenueNot Disclosed

InventoryNot Disclosed

FF&E$250,000
Included in asking price
Real Estate$2,090,000
Included in asking price
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Hot Listing

Legendary Chicago Nightclub & Bar w/Real Estate


Asking Price$1,400,000

Cash Flow
Not Disclosed

EBITDANot Disclosed

Gross RevenueNot Disclosed

InventoryNot Disclosed

FF&E$250,000
Included in asking price
Real Estate$2,090,000
Included in asking price

Seller Financing Available
Business Description
~ Here's what makes this opportunity exciting: Owner open to discussing "Owner Financing" for qualified buyers with strong financials and approximately 30/40% down payment (Terms to be negotiated)

~ Bonus: This is a "Mixed-Use Building with a (3) bedroom (1) bath apartment on the 2nd Floor which can provide additional income" and low taxes at $9,064.81 for 2024.

~ If Gaming revenue has been on your wish list, this could be your moment since the current owner has already submitted a Video Gaming Application with the Illinois Gaming Board and was among the first to apply since limited applications are being processed.

~ Imagine owning a piece of Chicago's nightlife history! This legendary establishment has been serving the community for 33 years, and now you have the rare opportunity to step into something truly special.

~ You'll get everything - the real estate, the business, and incredible upside potential. We're talking about 6,000 square feet of main floor space that currently operates as both a nightclub and pub, giving you flexibility to continue the legacy or create your own vision. The property was appraised at over $2 million just five years ago, and you can secure it all including fixtures for $1.4 million.

~ You'll love the included assets - over $250,000 in professional sound equipment, furniture, bar equipment, plus all existing licenses including PPA (Public Place of Amusement) and liquor license, plus application submitted for video slot machines (6) brand new machines to be installed once all approved!!

~ The location speaks for itself - high visibility on Chicago's Southwest side with 30,000 to 50,000 vehicles passing daily according to IDOT data. The B3-1 zoning allows you to operate a restaurant, banquet hall, or entertainment venue with considerable flexibility.

~ The semi-retired owner currently operates just three nights weekly but consistently books private parties on closed days, showing you the demand is there. With three separate rooms, you could easily expand into banquet services or special events. Plans are to re-open 6 days a week once video gaming is installed.

~ The basement includes a kitchen setup with equipment in place (Not currently operational) that was never used by the current owner, as the bar did not serve food. The space offers great potential for a future kitchen concept. A dumbwaiter is already installed for easy food or supply transfer between levels.

~ Whether you want to continue the nightclub tradition, transform it into something new, or simply invest in prime Chicago real estate with income potential, this property offers multiple paths to success. The established customer base and 33-year operating history provide a solid foundation for your next chapter.
About the Business
Years in Operation
34
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 ~ There is also a huge dry 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
1921
Attached DocumentsAttachment Disclaimer

Confidentiality_Agreement_.pdf


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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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