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Popular Bar/Nightclub With Video Gaming Lake County - Huge Profits!

Waukegan, Illinois
Popular Bar/Nightclub With Video Gaming Lake County - Huge Profits!
Asking Price:$599,000
Gross Sales: $582,898
Cash Flow: $314,052
Monthly Rent: $7,500
Value Of FF&E: Included In Asking Price
Real Estate: Leased Space
Year Established: 2012
Status: For Sale

Contact Details

Contact Name: Pat Mahoney

Contact Email: sales@eatz-associates.com

Contact Phone: 847-208-9569

Contact Fax: 847-620-2934

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Business Description

Currently operating as an upscale bar, nightclub, social event and gaming venue. The bar/nightclub operates every weekend with DJs, bands and artists. Additionally, the space is open for gaming and drinks 7 days/week: Mo-Th 10a-10p & Fr 10a-2a & Sa 9a-2a & Su 9a-7p.

Well done spacious interior with cool vaulted and exposed ceilings. Long bar able to accommodate high volumes. Huge dance floor with state-of-the-art sound and lighting system. Second floor office space with large viewing window overlooking the bar and dance floor. Ample and convenient parking.

Cover charge. Dress code strictly enforced.

Video gaming was added in 2014. Five video gaming machines are situated near the entrance.

Location's take:
2015 Gaming Profit = $84,680
2016 Gaming Profit = $103,108
2017 Gaming Profit = $154,386
2018 Gaming Profit = $200,000+

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

Seller Financing Available$

 

Detailed Information

County: Lake

Location: Prime retail space on a very busy retail corridor in the heart of Lake county. In a thriving strip center with a strong tenant mix, excellent signage, great visibility and high traffic counts of 45,000 vehicles per day. Perfectly situated in the largest city in Lake County, the 9th-largest city in Illinois and the 5th-largest city on the western shore of Lake Michigan, after Chicago, Milwaukee, Green Bay and Kenosha!

Facilities: Leased space $7,500/mth all in. Current lease expires in Feb 2022 with one 5-year option (landlord willing to sign a longer term). Square Feet: 5 ,980 Capacity: 400 . # Of Employees: 10. Days/Hrs of Operation: Mo-Th 10a-10p & Fr 10a-2a & Sa 9a-2a & Su 9a-7p .

Competition: Great reviews. Has carved out a niche for itself with very little competition. Any other nearby establishments do not have a dress code. Boasts a large customer base - draws customers from all over Chicagoland and Wisconsin with well known DJs and artists. The go-to spot for nightlife in Lake County.

Growth and Expansion: New ownership can capitalize on of the current solid revenue model in place, as well as, take this location to the next level by offering more weekday events such as jazz night, various dance classes, Zumba classes and more. Plus, rent out the space to birthday parties, weddings and other social events. There is also a built-out kitchen with hood/exhaust system and walk-in coolers currently in place that can garner additional daytime, dinner and late-night food revenue. During other days of the week can likewise make use of the nine 50'' flat screen televisions and draw fans in to watch sporting events. Furthermore, the licenses allow for the location to be open earlier and later - from 7a-1a Su-Th and 7a-2a on Fr & Sa.

Support/Training: One week on-site comprehensive training.

Number of Employees: 10

Seller Financing: Seller Financing available with $400,000 down

Reasons For Selling: Current owner relocating out of state.

Gross Sales: $582,898

Value Of FF&E: Included In Asking Price

 

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