Features A Newly Renovated Dining Room, A Fully Equipped Kitchen & Full Liquor License
Chicago, IL
Asking Price: $115,000
Gross Sales: $ (Asset Sale)
Net Operating Income: $ (Asset Sale)
Monthly Rent: $1,826
Lease Expiration: 04/2021
Options: One 5-Year Option
Year Established: 2018
Owner Operated: No
Seller Financing: No
Food Type: American, Any, Bistro, Breakfast & Lunch, Brunch, Chinese, Diner, Greek/Mediterranean, Grill, Indian, Italian, Mexican/Tex-Mex, Sandwich Shop, Seafood, Steakhouse, Sushi, Thai, Wine Bar
Service Type: Full Service
Business Type: Independent
Sale Type: Asset Sale

Description:

This turn-key restaurant features a newly renovated dining room, a fully equipped kitchen and a full liquor license.

Expansive dining room boasts large windows, cool ceilings, warm wainscoting and ambient lighting. Kitchen features two 6-burner stoves, griddle and fryer, plus brand new 75g hot water heater. There is also a security camera system and Square POS system.

Nicely built-out. Turnkey. Bring your concept here!

Asset sale - no financials.

Feel free to stop by the location as a customer first. This is a highly confidential listing, please DO NOT talk to any of the employees or patrons. If interested, contact EatZ for more information. Showings by appointment only.

County: Cook
Location:

Prime retail space in the heart of Chicago’s popular Uptown neighborhood on Argyle St with plenty of foot traffic and ample parking right outside the door. Perfectly situated on the corner of newly renovated W Argyle St & N Sheridan Rd. Surrounded by many high-rise apartments and condos in a dense commercial and residential area of the city. Conveniently located near the CTA's Argyle Red Line stop, which received $10 million in improvements in 2012. Also, just two blocks from the lake shore.

Part of Harry Osterman's new $5 million Argyle Street Renovation! A "shared street" project that has transformed a 3-block stretch of Argyle St in Uptown into a European-style plaza boulevard where pedestrians, bicyclists and motor vehicles co-exist. The makeover of the Argyle area, home to a significant Asian population from various countries with many thriving Asian & Vietnamese owned businesses, is "perfect in the future development of Uptown." The redesign included new lighting, planters, trees and other improvements. It’s anticipated that the changes on Argyle will further boost business. The project has marketing benefits too because it helps "give Argyle a more distinctive cultural brand and image." That identity has helped Argyle St become more of a destination for people with spending power and those looking for a cultural experience.

The renovation also created space for outdoor cafes and provided flexibility to easily close the street to vehicles to host special events, such as Chinese New Year festivities and the Argyle Night Market held weekly in the summer drawing over 20,000 attendees.

Real Estate: Leased
Facilities:

Leased space - cheap $1,826/mth gross. Current lease expires Apr 2021 with one 5-year option. Cooperative and helpful landlord. Square Feet: 1,000. Seating: 34. Days/Hrs of Operation: Currently closed.

Value of FF&E: Included In Asking Price
Value of Inventory: $1,100 (Not Included In Asking Price)
Competition:

Excellent location in Uptown! Cozy and intimate setting. Great neighborhood spot. A real gem!

Growth and Expansion:

On Argyle Street, a long-time culinary destination. Also known as New Chinatown and Little Saigon, Uptown’s Asia on Argyle is a district of restaurants, bakeries, grocery stores and businesses and a center for Chinese and Southeast Asian culture on the North Side of Chicago. The area has been designated a historic district and is now celebrated for its successful revitalization. Located just off the Red Line at the Argyle stop along Uptown's entertainment corridor, this popular district frequently attracts many foodies!

Reason For Selling: Personal health.