Bars, Pubs & Taverns, Liquor Stores
Active
Iconic Tavern + Liquor Store + Apartment - Mixed-Use Property For Sale
Chicago, Cook County, Illinois, United States
Asking Price$900k
Revenue-
EBITDA-
Cash Flow-
Description
Iconic Tavern + Liquor Store + Apartment Chicago, IL - Mixed-Use Property For Sale!
"Coveted Chicago Tavern License, Liquor Store License & Applied Gaming License Included"
A unique opportunity to acquire a long-standing neighborhood institution & income-producing property in one of Chicago’s established northwest neighborhoods.
This offering includes 2 connected freestanding commercial buildings, operating as sports bar & liquor store, along with a residential apartment above — creating multiple revenue streams from bar operations, retail liquor sales & rental income.
Even more valuable, the sale includes both on-premise & off-premise liquor licenses, including a highly coveted Chicago Tavern License, which is extremely limited & difficult to obtain in today’s regulatory environment.
Opportunities combining real estate, 2 liquor licenses & established neighborhood businesses are exceptionally rare in the city of Chicago!
Investment Overview:
Tavern — A classic neighborhood sports bar offering a welcoming atmosphere for locals to watch games, enjoy drinks & socialize.
Liquor Store — The adjoining retail liquor store serves the surrounding neighborhood with a convenient selection of beer, wine, spirits & convenience beverage sales.
Current Entertainment Revenue — The bar & liquor store also feature a juke box, dart board, pool table & ATM which bring in $3k-$5k a mth or $35k-$60k a year in supplemental revenue.
This dual-concept model captures both on-premise & off-premise alcohol sales + entertainment sales maximizing revenue opportunities.
This offering also includes multiple Chicago liquor licenses, an increasingly scarce asset —
On-Premise Chicago Tavern License allows for:
• Bar service & bar operation
• Full alcohol service for consumption on the premises
• Late operating hours typical for neighborhood taverns
Off-Premise Retail Liquor License allows for:
• Retail sales of beer, wine & spirits
• Package carry-out alcohol sales
Owning both license types in 1 location is a significant competitive advantage.
Plus, the ability to add video gaming.
Gaming Potential — Gaming application already in process. A buyer would inherit this positioning, potentially receiving activation approval shortly after acquisition, eliminating the typical 6–12 month lead time. The property meets zoning & licensing requirements for VGT placement.
And passive residential income from its 3-bedroom apartment upstairs.
Rental Income — Above the commercial space sits a residential apartment providing:
• Additional rental income
• Potential owner-operator housing
• Investment upside
• Covers taxes
Overall, this configuration allows for multiple profit centers under 1 roof —
• Bar operations
• Amusement devices
• Liquor store sales
• Video Gaming revenue
• Residential rent
Very few listings offer real estate, multiple liquor licenses & 2 complementary alcohol businesses & the opportunity to add video gaming in 1 package!
Prime retail space in a freestanding building w/a few parking spots in the rear & ample street parking.
Perfectly situated on a well-traveled E-W corridor with 18,000-22,000 VPD serving Chicago’s northwest side & connecting the city with nearby suburbs.
Additional location benefits:
• Dense surrounding residential population
• Strong demographics
• Lg base of multi-generational households/long-term residents
• Strong working-class/middle-income residential communities
• High concentration of blue-collar/healthcare/logistics/retail workers
• Consistent demand for neighborhood bar gathering spots/convenient liquor retail
Neighborhood taverns with liquor stores often thrive in these established Chicago communities due to long-term loyal customer bases & consistent neighborhood traffic.
If interested, please click on the black Inquiry button on the right to complete the Buyer Profile form or email Ted Aretos at [email protected] or call 815-761-833 for more information. Showings by appointment only outside
Real Estate
Owned
Building Size: 6000 sq. ft.Furniture Fixtures & Equipment
$150k
Inventory
$20k
Year Established
2003
Reason Selling
Retiring.
Facilities & Assets
Owners Role: Supervisory - oversees the operation.
# Of Employees: 6 (4 Bartenders & 2 Liquor Store Employees).
Square Feet: 6,000 (1,500 SqFt Tavern + 3,000 SqFt Liquor Store + 1,500 SqFt Apartment).
Seating: 27.
Days/Hrs of Operation: Tavern Open Daily 11a-11p & Liquor Store Open Daily 11a-8p
Year Established: 2003.
Value of FF&E: Included In Asking Price (Valued at $150,000).
Value of Inventory: $20,000 (Not Included In Asking Price).
Property Information: Two connected buildings under 1 pin. Built in 1908. On .193 acres. Total of 4,500 sqft on the first floor and a 1,500 sqft 3-bedroom apartment upstairs that rents for $2,000/mth gross. Zoning B1-2 neighborhood shopping district. Real estate taxes ~$24,000 a year.
Support & Training
Negotiable on-site comprehensive training.
Market & Competition
• Freestanding Property — Full ownership of a large mixed- use building. This provides complete operational control, a rarity in Chicago.
• Rare Tavern License — Chicago's limited supply of tavern licenses makes this a scarce and appreciating intangible asset.
• Built-In Tax Shield — The $24,000/year residential apartment income fully offsets annual property taxes.
• Gaming Upside — Application already submitted for gaming. Once activated, video gaming terminals could generate $60,000-$180,000+ annually with minimal incremental cost.
Growth Opportunities
1. Full commercial Kitchen Build Out - The property has ample space and infrastructure for a full commercial kitchen. Adding a food program would significantly expand revenue potential, increase customer spend and extend dwell time, also strengthening video gaming compliance.
2. Food-Driven Sports Bar Concept - The existing license, infrastructure and kitchen potential create an ideal foundation for a modern food-and-entertainment-driven sports bar. This is a proven and profitable hospitality concept in the Chicagoland market.
3. Liquor Store Footprint Integration - The liquor store space offers flexibility for reconfiguration, allowing expansion of the bar or creation of a hybrid taproom-and-retail concept. This seamless integration can optimize the layout for higher revenue per square foot.
4. Owner-User Repositioning - An owner-operator can reposition this property into a destination concept, leveraging the rare license and high traffic.
Financing Options
No.
Related Categories
Asking Price$900k
Learn MoreAfter inquiring the broker will reach out to you to discuss the next steps.