3235 North Central AvenueChicago, IL 60634Price: $400,000

  • Price: $400,000
  • 235 Days on Market
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Federal 30-year interest rate: 6.77% last updated on Feb 15, 2024
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • 9,200Square Feet

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Seller Financing available & business only for sale. This turnkey restaurant/lounge is a must-see for anyone looking to enter or expand in the thriving culinary scene in Chicago, IL. This spacious newly buildout in 2022 business has an occupancy of 212 but seats currently 200 customers and offers a prime opportunity for dining-in and private events business to blossom. The business features two bars, perfect for serving a wide range of beverages and accommodating patrons efficiently, a VIP room dedicated to hosting get together to provide an exclusive and intimate experience, a full service commercial kitchen fully equipped & designed to handle high-volume operations and support diverse culinary offerings and a kitchen prep room, 12 flat screen TV's thoughtfully placed throughout the restaurant ensuring an immersive entertainment experience for guests, a dedicated DJ room complete with top-of-the-line equipment, allowing for seamless integration of live music and entertainment, a customer coat room for securing the guest's belongings and an employee lounge for hardworking staff to be able to take their breaks in comfort and a private managers office. The location also offers private parking with 22 parking spots available to ensure convenience for customers and available street parking on Central Ave and a timer electronic building sign which can be seen driving North or South on Central Ave. Business is currently closed. All Gross Revenue and Cash Flow Figures are Pro Forma Figures from having been open for 9 months. Lease Expires April 2026 with a 5-year option to extend. Seller of business has an option to purchase real estate which currently has a day care tenant in the second unit. Building is a total of 9,200 square feet with private parking and seller of business in only occupying one unit and current rent is $6,000 per month on a modified gross lease.

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Listed by Paul Proano of Coldwell Banker Commercial NRT

Based on information submitted to MRED  as of February 21, 2024 . All data is obtained from various sources and has not been, and will not be, verified by broker or MRED.   All information should be independently reviewed and verified for accuracy.  Properties may or may not be listed by the office/agent presenting the information. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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