Business Summary:
This neighborhood bar/tavern is in a great location. This bar/tavern is located in the heart of Chicago surrounded by a large college student population numbering over 25,000 as well as 12,000 faculty and staff. In addition, the area has medical professionals or employees numbering over 4,000. Another great segment of business is the patients and family who visit the medical facilities in the immediate area which total over 475,000 annually.
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 medical related employees within only 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! On top of all the people working and living in the immediate area, this area is one of the fastest growing areas of Chicago with over 2,500 new residential units being built.
The current owner bought the business/property approximately 15 years ago. Since then, the neighborhood has undergone a major transformation. This Bar & Grill 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.
|
|
|
| Facilities / Terms of Lease:
Zoning is “B-4", Lot Size is +/- 3,125 square feet, Building is 3-story plus basement, There are four apartments, Gross Building Area is +/- 4,800 square feet, Seating for approximately 75 people |
|
