Business Overview

Opportunity to own and expand catering company all the while paying your overhead with an iconic soup and sandwich shop. Well established in a suburban downtown area right off a major expressway, accessible to all area businesses.

Boasts a large catering business – specializing in corporate gatherings, company picnics, school lunches, park district day camps, city events, cocktail parties and private affairs. Also has contacts in 9 major hospitals, the County Courthouse, as well as preferred catering status with many party venues. Additionally, offers full bar services for events.

Catering liquor license and 2 company vans (1 refrigerated) are just the beginning for
the right owner with the vision to grow this solid business into and even more profitable
one. Includes a loyal staff, with average employment stay of over 10 years. All you have to do is let them do the work while you drive the business.

The restaurant outlet is a well-known iconic soup and sandwich destination known for its homemade food with a BYOB license in place that can be changed to full liquor license if wanted. A one-of-a-kind restaurant serving lunch and dinner daily. Offering dine-in, carry-out & delivery + catering. Restaurant features a cool retro theme, casual vibe, freezers of grab & go, 2 kitchens, 4 walk-ins and fenced in sidewalk patio. Price also includes hundreds of amazing recipes. Also detailed operational procedures in place.

Sales up year after year, have been consistently increasing every year they have been in business! Just 2020 sales were down, but 2021 sales are way up!

Rent or own. Also, have the option to purchase the property for an additional $949,000. Property boasts 50ft of retail frontage on quaint suburban downtown main street in a stable area which is still growing with additional high-end condos, as well as many townhomes. Property that houses the restaurant outlet also includes 3 rental units, so the overhead is covered leaving room to expand the catering base. The 2 residential & 1 commercial renter total $27,244 in rental income a year. Or can also rent to own!

Well established for over 45 years!

Location: All in a freestanding building in the bustling downtown district of an affluent/densely populated close-in western suburb of Chicago. Great neighborhood location with tons of vehicle and foot traffic. Ample lot and street parking. Just 10 miles W of Chicago’s loop and minutes from O’Hare/Rosemont. Borders 2 densely populated, affluent villages with a strong following.

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.

Listed By Pat Mahoney at EatZ & Associates / EatZ Real Estate Group LLC

Financial

  • Asking Price: $599,000
  • Cash Flow: $213,846
  • Gross Revenue: $1,286,297
  • EBITDA: N/A
  • FF&E: N/A
  • Inventory: N/A
  • Inventory Included: N/A
  • Established: 1977

Detailed Information

  • Property Owned or Leased:N/A
  • Property Included:N/A
  • Building Square Footage:3,146
  • Lot Size:N/A
  • Total Number of Employees:N/A
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

Lease information: Leased space $5,525/mth gross. Seller/landlord will provide a new lease with options. Property: Mixed-use building with restaurant, nail salon and two 2bed/1bath apartments above. Real Estate Taxes $16,656. Square Feet: 3,146. Restaurant Seating: 50 Inside & 16 Outside. Restaurant Days/Hrs of Operation: Mo-Sa 8a-9p & Su 11a-6p. Owners Role: Family owned and operated. Current owners currently hold managerial roles in the business overseeing/supervising managers and employees. Value of FF&E: Included in Asking Price.

Is Support & Training Included:

Four weeks on-site comprehensive training.

Purpose For Selling:

Retiring.

Pros and Cons:

No other place like it. Everything is made from scratch and fabulous. Quality fresh food at its best. Business has a great history and serves legendary food. Are known for their unique, homemade, gourmet creations. Deli food with a unique twist. A true neighborhood 'joint' - simple place with great food and friendly people. A landmark restaurant for its iconic gourmet subs, soups and salads. Current owners love cooking and creating great recipes with their staff. They have thrived on staying relevant in an ever-evolving market. Robust menu. High quality team of workers. Outstanding delivery. Phenomenal catering presentation. They have taken fast-casual gourmet food to another level. Hands down the best sandwich spot in Chicagoland!

Opportunities and Growth:

Offering 45 years of goodwill along with Chicago wide recognition! Famous for their out of this world sandwiches, soups and creativity. A real gem with deep roots in the community. The longest running restaurant in the downtown district. The get-from or go-to sandwich place in the area and all its surrounding suburbs. Local treasure - huge following. Loved by many for many years. Highly rated and recommended, great reputation to continue to build upon.

Additional Info

The business was started in 1977, making the business 45 years old.

The real estate is leased by the business for $5,525 per Month

Why is the Current Owner Selling The Business?

There are all types of reasons people resolve to sell operating businesses. Nonetheless, the genuine factor vs the one they tell you may be 2 completely different things. As an example, they might claim "I have too many various commitments" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these may simply be reasons to try to conceal the reality of altering demographics, increased competitors, recent decrease in profits, or a variety of other factors. This is why it is really important that you not rely entirely on a seller's word, but rather, use the seller's solution combined with your overall due diligence. This will repaint a more realistic image of the business's existing scenario.

Existing Debts and Future Obligations

If the current company is in debt, which many companies are, then you will certainly have reason to consider this when valuating/preparing your deal. Numerous businesses take out loans so as to cover points such as stock, payroll, accounts payable, so on and so forth. Remember that in some cases this can imply that earnings margins are too small. Many companies fall under a revolving door of taking on debt as a way to pay back various other loans. In addition to debts, there may likewise be future obligations to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business may have existing contracts with vendors that should be fulfilled or may lead to penalties if canceled early.

Understanding the Customer Base, Competition and Area Demographics

How do companies in the area bring in brand-new customers? Many times, businesses have repeat customers, which develop the core of their day-to-day earnings. Specific aspects such as brand-new competition sprouting up around the area, roadway building, and staff turn over can affect repeat clients as well as negatively influence future revenues. One crucial point to consider is the area of the business. Is it in a highly trafficked shopping center, or is it hidden from the highway? Obviously, the more people that see the business regularly, the greater the opportunity to construct a returning consumer base. A final idea is the basic location demographics. Is the business situated in a largely populated city, or is it located on the outside border of town? Just how might the neighborhood average household earnings impact future income potential?