Address not disclosed Chicago, IL 60632

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Park Place Realty Group LLC

info@parkplacerealtyllc.com +1(708) 722-5106

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Key Details

Property Type Commercial

Sub Type Bus / Bus w/Real Est

Listing Status Active

Purchase Type For Sale

Square Footage 6,654 sqft

Price per Sqft $210

MLS Listing ID 12493879

Annual Tax Amount $9,064

Tax Year 2023

Lot Dimensions 52X111

Property Sub-Type Bus / Bus w/Real Est

Property Description

Illinois Gaming Board ~ Video Gaming Application has been submitted. Seller has been one of the first to put in his application with so if this is what you are waiting for, it's go time! This is a rare chance to own a piece of Chicago's night-life history in the Archer Heights neighborhood which currently holds a Tavern License, PPA License and a video gaming license has been applied for... So much opportunity here! This legendary venue/nightclub is now up for sale and complete with real estate, business, a 3 bedroom, 1 bath apartment which is currently not rented) on the 2nd floor (Great for generating extra income or owner occupant). Owned & operated for 33 years the current owner is now semi-retired and has scaled back operations to just 3 nights a week and is ready to turn over his hat to the next savvy business owner. The property/business is priced below the appraised value as an appraisal was done in February, 2020 and appraised out for $2,090.000 so this current sales price presents an opportunity for a hands-on operator to build value. Zoned B3-1 ~ With high visibility an estimated 30,000 to 50,000 vehicles pass by per day (IDOT), this is a great corner location for a Southwest side of Chicago bar/nightclub/restaurant to thrive on. What is included: Too much to list but, to start: ~ State of the art Dass sound system ~ Smart lighting system ~ video monitoring ~ concert speakers. 3 distinct bars in one ~ with 3 separate entrances ~ ~ The perfect scene for every mood. This is a fantastic opportunity for a new owner to expand the hours of operation, rent the apartment for extra income or live where you work. The building has been beautifully maintained and the roof was redone in 2022, (1) New 50,000 btu AC system and the 2nd AC unit has been well maintained with recently replaced major internal components; the walk-in-cooler has a new compressor and coil fan, and a new check valve on the sewer which was a $10,000 upgrade. There is also a huge basement for extra storage with a "Dumbwaiter" To make this even a better fit, seller may consider owner financing.

Location

State IL

County Cook

Area Chi - Archer Heights

Interior

Cooling Central Air

Fireplace N

Building

Dwelling Type Bus / Bus w/Real Est

Listed by Paula Boudos of Keller Williams Preferred Rlty

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Park Place Realty Group LLC

Broker | License ID: 888222

+1(708) 722-5106