for sale | restaurant logan square restaurant...logan square restaurant 2339 north milwaukee ave,...

Associate [email protected]

TIM ANDERSON

Assistant Vice [email protected]

JIM MARTIN


MARCUS SULLIVANPROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS

Highly Desirable Logan Square Location

Newly Rehabbed Facility

Significantly Below Market Long Term Lease

Can Easily Be Adapted To Accommodate Numerous

Hospitality Concepts

Great Area Co-Tenancy

PRESENTED BPRESENTED BYY::

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for itscorrectness.

All SVN® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

FOR SALE | RESTAURANT

LOGAN SQUARE RESTAURANT2339 North Milwaukee Ave, Chicago, IL 60647

SSALE OALE OVERVERVIEWVIEW PROPERPROPERTTY DESCRIPTIONY DESCRIPTION

Great opportunity to purchase a fast casual concept. Newly renovated spacewith all furniture and equipment included. Front dining area includes custombuilt high top tables providing seating for 36 in a comfortable and relaxedsetting. Large workable kitchen area that opens to the front dining area. Thespacious back area is currently home to a large smoker, walk-in refrigerator,and dishwasher. This area is also used for open prep space and storage.Additionally, there is attached garage space with rear access that could beused for a food truck base/addition. Great space with tons of upside to goalong with a below market long term lease. There is room here to expandthis concept and be creative.

SALE PRICE: $165,000

LICENSE TYPE: Incidental Liquor AndRetail Food

BUSINESS SIZE: Approximately 2,600Square Feet

CEILING HEIGHT: 13.0 FT

YEAR BUILT: 2014

RENOVATED: 2014

ZONING: C1-5

MARKET: Chicago

SUB MARKET: Logan Square

2339 North Milwaukee Ave, Chicago, IL 60647

LOGAN SQUARE RESTAURANTFOR SALE | RESTAURANT

MARCUS SULLIVMARCUS SULLIVANAN


JIM MARJIM MARTINTIN


TIM ANDERSONTIM ANDERSON


All Sperry Van Ness® Offices Independently Owned & Operated.The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

ssvnchicvnchicago.ago.ccomom



Demographics Map









POPULAPOPULATIONTION 00.5 MILES.5 MILES 1 MILE1 MILE 1.5 MILES1.5 MILES

TOTAL POPULATION 16,329 69,345 143,990

MEDIAN AGE 31.4 31.3 31.2

MEDIAN AGE (MALE) 31.8 31.8 31.6

MEDIAN AGE (FEMALE) 31.1 31.3 31.2

HOUSEHOLDS & INCHOUSEHOLDS & INCOMEOME 00.5 MILES.5 MILES 1 MILE1 MILE 1.5 MILES1.5 MILES

TOTAL HOUSEHOLDS 6,874 27,617 56,112

# OF PERSONS PER HH 2.4 2.5 2.6

AVERAGE HH INCOME $65,545 $63,751 $67,695

AVERAGE HOUSE VALUE $478,630 $411,584 $421,650

LLOCOCAATION DESCRIPTIONTION DESCRIPTION

This business is located in the center of Chicago's Logan Square neighborhood. Cheap eats and bike-friendly streets. Gourmetcoffee, scruffy dive bars and artisanal cocktail lounges. Some may say it's a recipe for a hipster haven but there's a proud,working-class sensibility that keeps this Northwest Side neighborhood grounded. In Logan Square, the strong neighborlyconnection is evident all around, from active preservation groups to community gardens and a locally-run farmers market. "Local"being the key word when describing many aspects of the scene: ingredients are sourced locally at their buzz-worthy restaurants;corner taps tout local, craft brews; galleries showcase local artists; and concerts and street fests promote local, upstart bands.



Location Maps









2339 North Milwaukee Ave, Chicago, IL 60647

LOGAN SQUARE RESTAURANTFOR SALE | RESTAURANT









CONFIDENTIAL BUSINESS SALE SUMMARY

LISTING BROKERS Marcus Sullivan

BUSINESS TYPE Bar/Quick Service Restaurant

BUSINESS TRADE NAME Q-Tine ( Name and Concept Excluded)

BUSINESS ADDRESS 2339 North Milwaukee Avenue Chicago, Illinois 60647

BUSINESS SALE PRICE $165,000.00

REAL ESTATE INCLUDED? No this is a stock purchase or asset only sale with a lease assignment. Please see below for specific lease details.

STOCK OR ASSET SALE Stock or Asset Sale. Owner is able to convey the entity that holds the licences.

BUSINESS LICENSES Incidental Liquor License and Retail Food (The current Corporation that holds the Licenses is not Included in the Sale).

BUSINESS SIZE Approximately 2,600 square feet on the ground floor plus exclusive use of the lower level space associated with the premises.

LEASE TYPE This is a Modified Net Lease. Tenant is responsible Fifty Percent of the increase of the Property Taxes above the 2013 base year. Tenant’s current property tax obligation is approximately $44.62 per month or $535.53 annually.

LEASE TERM Lease Term is valid until October 31, 2028 including the lease options.

ANNUAL GROSS RENT $4,138.71 per month (Base Rent Amount). Approximately $19.10 per square foot net based on ground floor square footage. The Base Rental increases Two Percent Annually for the Base Lease term and all Options.

SECURITY DEPOSIT $7,800.00

LEGAL OCCUPANCY Interior Occupancy of under 100.

AREA Logan Square

ACTUAL ZONING C1-5

PARKING Street Parking Only

EXCLUSIONS Concept Name, Recipes, Food and Liquor Inventory, Security Deposits, Leased Equipment, Artwork and Personal Property are excluded. Please contact Agent for a detailed asset list.

TYPE OF BASEMENT Partial Basement for Storage

YEAR ESTABLISHED 2014

SHOWINGS By Appointment Only.

LOCATION DESCRIPTION Located in the Heart of Logan Square

DISCLAIMER The information listed above has been obtained from sources we believe to be reliable, however, we

accept no responsibility for its correctness. All references to square footage and age are approximate.

NORTH MILWAUKEE AVENUE

PUBLIC ALLEY

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Front #MetalBarStools 38Metal4-TopTables(BarHeight) 6Metal2-TopTables(BarHeight) 2Metal3-TopTables 2CustomLightFixtures 13Televisions 2CustomWaitStation(OnWheels) 1WallMountedSpeakers 3

POSTerminals(Ipad) 2Telephone 1TrueStandingRefridgerator 12-DoorTruePizzaPrepTable 1HeatLamp 1CustomeShelvingUnit 12-DoorAuto-Sham 13-CompartmentSteamTablew/HeatLampandCustomShelf 1SingleDoorLowRefridgerator 1Built-inPrepTablew/SinkandShelf 12-BasketPitcoDeepFryers 3GriddleonRollingRack 1AmericanPride4-BurnerStovew/Oven 1GroenElectricKettle 1HoodandAnsilSystem 1CookingUtensils Misc.

CheeseFilter 1MetroRacks 3

CookShackSmoker 17-FootStainlessPrepTable 3RollingRacks 23-CompartmentSink 1DefrostSink 1HandSink 12-DoorTrusFreezer 1RobotCoupe 1MeatSlicer 1PlasticMetroRacks 12BakersRack 3MetalMetroRack(InCooler) 4

Basement

Back

Kitchen

Telephone 1Pots/Pans/Bins/Utensils Misc.

Couch 1Safe 1HPPrinter/Scanner/Fax 1Built-InDesk 1FileCabinet 2Telephone 1Lamp 1

Office

for sale | restaurant logan square restaurant...logan square restaurant 2339 north milwaukee ave,...

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