Paramount Room Open House – Turnkey Business For Sale

Date/Time
Date(s) - Monday September 25, 2017


Paramount Room Open House –¬†Turnkey Business For Sale

Fully outfitted turnkey restaurant/bar business for sale – Unique opportunity to bypass what is often a costly and time-consuming process to open a new restaurant, or expand operations in Chicago.

Looking to open a restaurant or expand locations in Chicago?
*****Or know someone that might be?******

Please join us Monday September 25th, 2017 for an Open House anytime between 1pm and 4pm. Light Hors D’Oeuvres will be served. Tour the space. Layout and further information will be available for interested parties.

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Paramount Room
415 North Milwaukee Ave., Chicago, IL 60618
Existing established business that just celebrated 10 years in West Loop/River West
Unique 100+ year-old building featuring a dual level space with a handsome street level tavern plus a lower-level lounge with 20 foot ceilings that once housed a prohibition era speakeasy
Loyal regulars and an industry following
5-time consecutive Michelin Bib Gourmand rating
Michelin Guide Recommended

Overview:
Combined occupancy for 99 on two levels
Liquor, food, and business licenses in good standing with city, state, federal
S-Corp stock deal for immediate ownership (change of officers required)
No need for architectural plan approval, going through the building permit application process, hiring contractors, new liquor license application process, or task force inspections (sanitation, plumbing, HVAC, electric, fire, building)
New market rate lease with options to extend (negotiable)
Dynamic location with high commuter traffic on Milwaukee Avenue, near light-life hubs at Grand/Milwaukee/Halsted, West Loop, and River North
Neighborhood currently experiencing an explosion of residential growth in high-rise apartments and condos within walking distance
Opportunities for sales growth include adding lunch, brunch, catering, and developing a robust private event business
Future potential for expansion to 2nd floor space (upon existing tenant vacancy) as additional dining space, private event space, or other
In addition, what makes this deal so unique is that based on ownership the business has qualified in the past for a Small Business Improvement Fund (SBIF), which effectively will pay up to $100,000 in select improvements, renovations, mechanical, and more with up to 75% reimbursement. The purchase of adjacent properties for purposes of business expansion or parking can also eligible within this program.

$220,000 (debt free)

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Please feel free to pass this information along with discretion to any parties you feel may be interested.

Optional R.S.V.P. with name, email, and contact phone to: jon.dineanddrink@gmail.com

Sole contact: Jon Young 773-895-5790

Private showings available.