Restaurant-Bar-Banquets-Catering-Carryout w/Drive Thru

Glenwood, IL (Cook County)

Seller Financing Available
Restaurant-Bar-Banquets-Catering-Carryout w/Drive Thru
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Asking Price: Get Financing: $999,000

Gross Revenue: N/A

Price/Sq. Ft.: N/A

NOI: N/A

Building SF: 13,325

FF&E: N/A

Year Built: 1970

Restaurant-Bar-Banquets-Catering-Carryout w/Drive Thru

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Property Description

For Sale. Free standing restaurant-bar-lounge-banquets-carryout-catering with drive thru window includes two catering trucks, five slot machines averaging $120,000 gross monthly which generates $11,000 a month profit run by absentee owner pays more than $207,000 in management and extra expenses that an owner operator could save. 13,325 +/- SF building with 11,000 SF lower level. Has a two bedroom apartment on the second floor that pays $700 a month, newly constructed for Real Estate tax purpose. Before ownership was paying $125,000 in Real Estate taxes, now with the apartment only $49,000.00. 2.07 acres of paved and lighted parking lots. Parks 166 vehicles. Seats bar lounge area 93, dining room 130 and banquets 250. Possible owner financing to qualified buyer with $400,000 down. Owner retiring after 43 years.

Detailed Information

Type:
Retail
Building SF:
13,325
Building Status:
Established
Facilities:
For Sale. Free standing restaurant-bar-lounge-banquets-carryout-catering with drive thru window includes two catering trucks, five slot machines averaging $120,000 gross monthly which generates $11,000 a month profit run by absentee owner pays more than $207,000 in management and extra expenses that an owner operator could save. 13,325 +/- SF building with 11,000 SF lower level. Has a two bedroom apartment on the second floor that pays $700 a month, newly constructed for Real Estate tax purpose. Before ownership was paying $125,000 in Real Estate taxes, now with the apartment only $49,000.00. 2.07 acres of paved and lighted parking lots. Parks 166 vehicles. Seats bar lounge area 93, dining room 130 and banquets 250.
Location Description:
Do not miss this golden business opportunity. Only fine dining-bar-banquets in the area. This restaurant-bar-lounge-banquets is established for 43 years. Real $$$ Maker. Sales more than $3.5 million yearly. Verifiable 3 years Federal Income Tax returns available with profit & loss statements. More than $500,000 in improvements in 2015. Real Estate taxes only $3.67 per SF. It is highly confidential. Please do not bother the staff, they don't know it's for sale. Before showing, need to fill lease qualifications and personal financial statement form.
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Nick DiBrizzi

Property Listed By:
Nick DiBrizzi

COLDWELL BANKER COMMERCIAL NRT

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