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. The property also includes 3 rental units for additional income!

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 & 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.

Rent or own. Or rent to own! Business and/or property are available. 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.

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!

Also, the option to purchase ONLY the catering business and restaurant outlet for $599,000 and lease its space for $5,525/mth.

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: $1,548,000
  • Cash Flow: $254,160
  • 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:Own
  • Property Included:Yes
  • Building Square Footage:3,146
  • Lot Size:N/A
  • Total Number of Employees:N/A
  • Furniture, Fixtures and Equipment:N/A
About The Facility:

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 made from scratch and fabulous. Quality fresh food at its best. Business has 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 44 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.

Why is the Current Owner Selling The Business?

There are all sorts of reasons people decide to sell businesses. Nonetheless, the genuine reason vs the one they say to you may be 2 entirely different things. As an example, they might state "I have too many other responsibilities" or "I am retiring". For numerous sellers, these factors are valid. But also, for some, these might simply be reasons to attempt to hide the reality of altering demographics, increased competitors, current decrease in earnings, or an array of other factors. This is why it is extremely vital that you not rely completely on a vendor's word, yet instead, use the vendor's answer combined with your general due diligence. This will paint an extra practical picture of the business's present circumstance.

Existing Debts and Future Obligations

If the existing business is in debt, which lots of businesses are, then you will certainly need to consider this when valuating/preparing your deal. Lots of companies take out loans in order to cover points such as stock, payroll, accounts payable, and so on. Bear in mind that in some cases this can mean that earnings margins are too thin. Numerous businesses fall into a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may likewise be future obligations to think about. There might be an outstanding lease on equipment or the structure where the business resides. The business may have existing agreements with vendors that need to be fulfilled or might result in fines if canceled early.

Understanding the Customer Base, Competition and Area Demographics

Exactly how do operating businesses in the area draw in brand-new customers? Often times, companies have repeat clients, which create the core of their day-to-day profits. Certain factors such as brand-new competition growing up around the location, roadway building and construction, and personnel turnover can influence repeat consumers and negatively affect future incomes. One essential point to think about is the location of the business. Is it in a highly trafficked shopping center, or is it hidden from the main road? Clearly, the more people that see the business often, the better the chance to build a returning customer base. A last thought is the basic location demographics. Is the business placed in a largely populated city, or is it situated on the outskirts of town? Exactly how might the local average family earnings effect future revenue prospects?