Banquet Facility with Property for Sale

North Suburbs of Illinois

Listing ID: 1105

Chicago, Illinois 

Description

Seller's Comments and Description:

600 Seat Banquet Hall North Suburbs

The current owners acquired the property in 2007. It’s a one story 18,972 sq ft banquet facility and it sits on 3.94 acres of land. They currently have 3 banquet rooms. The main banquet room is about 8,000 sq ft & has a capacity of about 400 seats. The 2 smaller banquet rooms have a capacity of 120 seats & 80 seats. They also have a room that’s currently being used as a storage room however, it could easily be an additional banquet room with 100 or more seats. There are a total of about 600 seats right now with the ability to add about 100 more seats, bringing the total seats to 700. They have a very large parking lot that can accommodate up to 201 vehicles. There’s also an adjacent parking lot owned by the village/county that they use when needed for over flow. They do all types of events including weddings, awards ceremonies, quincenieras, receptions, graduations, business meetings, etc.

Note: The owners will consider a small amount of financing for a well-qualified potential buyer.

Asking Price/Business & Real Estate: $3,525,000.00 plus inventory
Gross annual sales (approximately): $711,191.00
Cash flow (approximately): $263,323.00
Value of Inventory (approximately): $25,000.00
Value of Equipment & Fixtures (approximately): $110,000.00
Building, Property details (approximately): The annual Real Estate taxes are $69,255.23. They have 201 parking spaces. The building is 18,972 sq ft. The property is 3.94 acres. It is zoned B-2. There are 3 banquet rooms with a total of 600 seats. 400 seats in the main banquet room.
Seller Financing: Owners will consider a small amount of financing with qualified & experienced buyer/operators.
Contact: Tony, info@ababusinessbrokers.com, Advantage Business Acquisitions, Inc. 847-722-1877


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Listing Began: Oct 25, 2017, 10:36 pm
Number of Times Viewed: 139

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