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SVN | CHICAGO COMMERCIAL | 940 WEST ADAMS STREET, SUITE 200, CHICAGO, IL 60607 SALE BROCHURE
DE QUAYRESTAURANT2470 NORTH LINCOLN AVENUECHICAGO, IL 60614
Marcus SullivanAssistant Vice [email protected]
Jim MartinAssistant Vice [email protected]
OFFERING SUMMARY
Sale Price: $100,000
Business Size 1,650 Square Feet
License Type: Incidental Liquor And
Retail Food
Renovated: 2015
Zoning: B3-3
Market: Chicago
Submarket: Lincoln Park
Great Lincoln Park Bar/Restaurant Site In The Heart of Lincoln Park
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• Rare Turn Key Lincoln Park Restaurant
• Long Term Favorable Lease Rate
• Excellent Lincoln Park Location
• Fully Rehabbed And Impeccably Maintained Location
• Can Easily Accommodate A Variety of Different Hospitality Concepts
• Numerous New Mixed Use Developments In The General Area
Property Summary
DE QUAY RESTAURANT | 2470 NORTH LINCOLN AVENUE CHICAGO, IL 60614 SVN | Chicago Commercial | Page 2All SVN® offices are independently owned and operated.
DE QUAY RESTAURANT BUSINESS SALE SUMMARY
LISTING BROKERS Marcus Sullivan
BUSINESS TYPE Bar/Restaurant
BUSINESS TRADE NAME De Quay Restaurant
CORP/LLC NAME David De Quay LLC
BUSINESS ADDRESS 2470 N. Lincoln Avenue Chicago, Illinois 60614
BUSINESS SALE PRICE $100,000.00
REAL ESTATE INCLUDED? No this is a business sale only. Please see below for lease details.
STOCK OR ASSET SALE Stock Sale or Asset
BUSINESS LICENSES Incidental Liquor and Retail Food (All licenses fees shall be a pro-ration as a part of the sale).
BUSINESS SIZE Approximately 1,650 square feet on the ground floor plus a full basement for storage, coolers and office space. Lease also includes the use of Two (2) parking spaces in the rear of the building. Potential to expand into the adjacent store front.
LEASE TYPE Net Lease. In addition to the base rental rate noted below the tenant is responsible for 25% of the property taxes, property insurance and 55% of the water costs associated with the property.
LEASE TERM Six (6) years remain on the base lease term plus Two (2) Five (5) year options to renew. The base rental rate increases Three Percent (3%) annually for the remaining base lease term. Base rent for the first option is to be defined by market rent with Three Percent (3%) annual increases after the base rental rate is defined.
MONTHLY RENT Base Rent: $4,110.00 (Base rent escalates Three Percent Annually) Property Taxes, Water and Building Insurance: $924.00 (Adjusted Annually)
SECURITY DEPOSIT $7,750.00 in addition to a personal guarantee. (Security deposit is excluded from the sale of the business).
LEGAL OCCUPANCY Legal Occupancy is under 99. Current restaurant seating is for 44 in the dining room with an additional 12 seats at the bar.
AREA Lincoln Park
ACTUAL ZONING B3-3
PARKING Lease includes Two (2) parking spaces for tenants use. Ample street parking and public transportation options for customers.
EXCLUSIONS All security deposits as well as all food and liquor inventory are excluded. Please contact agent for a detailed asset list.
TYPE OF BASEMENT Full basement for coolers, storage and office use.
SHOWINGS Twenty four hours notice and broker must accompany all showings during non business hours only. This is a confidential business sale please do not discuss with staff or customers.
BUSINESS DESCRIPTION This fully improved Lincoln Park Bar/Restaurant location underwent a complete renovation just over three years ago and has been impeccably maintained. This 1,650 square foot location is fully equipped and can accommodate a number of different restaurant and bar concepts. A rare opportunity to take over a space that is truly turn key.
LOCATION DESCRIPTION This business is located in the heart of Chicago’s vibrant and well known Lincoln Park neighborhood. Numerous new mixed use developments in the general area that already benefited from strong day and evening demographics.
DISCLAIMER The information listed above has been obtained from sources we believe to be reliable;
however, we accept no responsibility for its correctness. All references to square footage
and age are approximate.
Current Asset List: de Quay Restaurant 2470 North Lincoln Avenue
Kitchen
Randell rail top refrigerator with door and drawers
Southbend Half size convection oven
Imperial Combination Grill/6 burner with refrigerated drawers
True 30 inch reach in door freezer
“Pizza Top” 30 inch reach in refrigerator with door
Southbend 6 burner range with oven
30 inch Salamander/Cheese Broiler
Two basket Fryolater with stainless guards
Various sized Prep tables
One Compartment Prep sink with landing
Dish scrap sink with Spray hose
3 compartment Pot Sink
Wall attached various stainless shelving
Free standing mobile Metro Shelving
Meat Grinder and attachments
8 quart Commercial Kitchen Aide mixer with attachments
Small Cuisinart Food Processor with attachments
Vita Mix high speed professional Blender
Induction burner
Immersion Circulator cooking unit with case
All food prep. Equipment including stainless sauce pots, stock pots,
hotel pans, sheet trays, utensils, mixing bowls, etc.
All dishware, silverware and glassware including back up unused new
items in basement
Garbage cans and cleaning equipment, vacuum cleaner
Hand sinks (2) with stainless splash guards
Dining Room
Tables, Chairs, Bar Chairs, upholstered banquet
Mirrors
Hostess Stand
Server Hutch
Small Credenza in front of Pass window
Speed Carts
Sound Speakers and equipment
POS equipment, registers, cash handling drawer that does not belong
to LAVU
Bar
Under Counter Wine Cooler
3 compartment glass washing sink
Metro Shelving
Bar Rails and drink equipment.
Glass reach in Refrigerator
Drink making barware and wine service items
Ice Drainage sink
Hand sinks (2)
Basement including Wine Room
2 office desks and swivel chairs
Filing Cabinets
All Shelving
Computer equipment, Printer telephone equipment
Storage equipment and back up bar stools, chairs
Locker
Samic High end professional Vacuum sealing machine
Office Safe
Air conditioning unit in Wine Room
Miscellaneous repair equipment and tools
Chest Freezer
Stand Up Freezer
Hot Water Heater
Keg refrigerator
All backup china, kitchen equipment
Microwave Oven
Shelving, Metro Shelving
Note: Ice machine in basement and under counter low temp dish
machines are rentals and not part of assets Trash Dumpsters are
contract assets from Rubicon/Lakeshore Waste Services, Grease
Dumpster is owned by Mahoney Environmental
Excluded Items
Dining Room Dutch and Indonesian Art works and Ceramics
Stroopwafel Maker
All food and beverage Inventory
Unused New Fabric Bolts
Cookbooks
Christmas Holiday Decorations
DE QUAY RESTAURANT | 2470 NORTH LINCOLN AVENUE CHICAGO, IL 60614 SVN | Chicago Commercial | Page 10All SVN® offices are independently owned and operated.
Additional Photos
DE QUAY RESTAURANT | 2470 NORTH LINCOLN AVENUE CHICAGO, IL 60614 SVN | Chicago Commercial | Page 11All SVN® offices are independently owned and operated.
Location Maps
DE QUAY RESTAURANT | 2470 NORTH LINCOLN AVENUE CHICAGO, IL 60614 SVN | Chicago Commercial | Page 12All SVN® offices are independently owned and operated.
POPULATION 0.25 MILES 0.5 MILES 1 MILE
Total population 4,983 20,795 84,475
Median age 26.9 27.2 29.3
Median age (male) 27.1 27.7 30.1
Median age (Female) 26.3 26.5 28.8
HOUSEHOLDS & INCOME 0.25 MILES 0.5 MILES 1 MILE
Total households 2,334 9,449 42,463
# of persons per HH 2.1 2.2 2.0
Average HH income $136,291 $137,801 $128,367
Average house value $660,707 $651,656 $684,711
* Demographic data derived from 2010 US Census
Demographics Map