Description
Turn-key Tavern business and very well-kept Mixed-Use building for sale in Avondale. The new Owner can run the business and collect rental revenue from Day 1. Value-Add opportunity right away since the apartment rents are significantly below market rates (long time Tenants and Seller did not increase rents. Tenants willing to stay or go). The ground floor features the Teddy Bear Lounge, an Avondale staple for over 40 years. The space is very clean and in great shape, as is the full basement. The sale includes the business name, Tavern/liquor license, all inventory, and FF&E including sports memorabilia decorating the space (excluding pool table, juke box, and ATM - all rented). In the rear of the ground floor is a 2bd/1ba apartment with a beautiful fenced in courtyard (could be used as a Beer Garden) and detached 2 car garage. This apartment is directly behind the tavern and can easily be transformed into a commercial kitchen if the new Owner would like to serve food. The 2nd and 3rd floors each have a spacious 2bd/1ba apartment featuring hardwood floors, individual central HVAC, updated appliances, front enclosed porches, and sizable rear decks for warm weather enjoyment. Tenants pay their own utilities. All apartments are occupied, one of which the Seller will vacate upon sale. Seller has private laundry room in basement that could be turned into coin-op laundry for extra income. Close proximity to all of the great restaurants and retail shops that Avondale has to offer. The Addison and Irving Park Blue Line stops are very close by, along with multiple bus stations. Tuckpointing - 2019. Building roof - 2010. 1st floor apartment roof - 2015. First floor HVAC - 2020.
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0BEDS
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N/AACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
Turn-key Tavern business and very well-kept Mixed-Use building for sale in Avondale. The new Owner can run the business and collect rental revenue from Day 1. Value-Add opportunity right away since the apartment rents are significantly below market rates (long time Tenants and Seller did not increase rents. Tenants willing to stay or go). The ground floor features the Teddy Bear Lounge, an Avondale staple for over 40 years. The space is very clean and in great shape, as is the full basement. The sale includes the business name, Tavern/liquor license, all inventory, and FF&E including sports memorabilia decorating the space (excluding pool table, juke box, and ATM - all rented). In the rear of the ground floor is a 2bd/1ba apartment with a beautiful fenced in courtyard (could be used as a Beer Garden) and detached 2 car garage. This apartment is directly behind the tavern and can easily be transformed into a commercial kitchen if the new Owner would like to serve food. The 2nd and 3rd floors each have a spacious 2bd/1ba apartment featuring hardwood floors, individual central HVAC, updated appliances, front enclosed porches, and sizable rear decks for warm weather enjoyment. Tenants pay their own utilities. All apartments are occupied, one of which the Seller will vacate upon sale. Seller has private laundry room in basement that could be turned into coin-op laundry for extra income. Close proximity to all of the great restaurants and retail shops that Avondale has to offer. The Addison and Irving Park Blue Line stops are very close by, along with multiple bus stations. Tuckpointing - 2019. Building roof - 2010. 1st floor apartment roof - 2015. First floor HVAC - 2020.
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