Tupelo Data Room
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 month 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 with 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, complete the short Contact Form or call the EatZ Broker on the right for more info. Showings by appointment only outside of business hours. Listed By Ted Aretos at EatZ & Associates / EatZ Real Estate Group LLC
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 Training: Negotiable on-site comprehensive training. Year Established: 2003. Value of Inventory: $20,000 (Not Included In Asking Price).
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
Full commercial Kitchen Build Out, Food-Driven Sports Bar Concept, Liquor Store Footprint plus Owner-User Repositioning. And the property's B1-2 zoning provides exceptional flexibility, supporting a wide range of uses and unlocking significant repositioning potential! This is a HIGHLY confidential listing, please DO NOT talk to any of the owners, employees or patrons. If interested, complete the short Contact Form or call the EatZ Broker on the right for more information. Showings by appointment only. Listed by Ted Aretos at EatZ & Associates
Financing Options
No.
Related Categories
Bar for Sale
Liquor Store for Sale
Business for Sale in Illinois
Asking Price$900k