260 E Lincoln Hwy
DeKalb, IL 60115
O'Leary's Ale House - Food and Craft Brews · Retail Property For Sale

$100,000 PRICE REDUCTION: FOR SALE @ $795,000. *** SELLERS PREPARED FOR QUICK SALE or LEASE OPTION*** FOR SALE or 3-5 YEAR LEASE OPTION. PRIME ALL BRICK COMMERCIAL PROPERTY IN EXCELLENT CONDITION IN DEKALB'S DOWNTOWN BUSINESS DISTRICT offers 8,700 sq. ft. w/ additional 5,000 basement sq. ft. Improvements in 2016 include new rubber membrane flat roof w/ 5-unit high-tech Amana heating and cooling mechanicals. Schindler hydraulic elevator w/ 4,000 lb. capacity (100% to code) w/ control room, whole building sprinkler system monitored by Simplex, Phase 3 electrical, 2017 updated draft system & ADT alarm system equip this commercial property. 172 first level seating, 100 upper level banquet seating & 40 outdoor patio seating. Prior established business has been successfully established since 2004 - Nov. 2018, having held licences to provide liquor, restaurant, catering, gaming & banquet services. New double entry doors, Pennsylvania Amish-built tables, authentic tin ceiling, new stools, red oak booths/columns, mahogany wood & stone bar accents, refinished maple floors & 11 TVs. 165 non-metered city of DeKalb parking spaces. Built by JC Penneys in 1937. FOR TIF DISTRICT FUNDING - CONTACT COMMUNITY DEVELOPMENT DIRECTOR, JO ELLEN CHARLTON @ 815.748.2361. 5 video poker machines with current gaming license offer excellent additional income. Service staff includes 3 managers; majority of staff committed to staying with new owner. Upper level 100 capacity banquet room allows under 21 age group; excellent income stream with impressive booked reservation business. All real estate, fixtures and furniture included. Not included: Dishwasher, ice-machine & water softener are leased; & all inventory. LOCATION: Prime commercial site and business located in the core of DeKalb, w/ high traffic count and excellent visibility, w/ nearby N.I.U. ***LEASE TERMS - $5,400 1st year Gross Rent. 2nd year $5,800. 3rd year $6,200. 4th year $6,400. 5th year $6,600. 3 year minimum term with 5 years preferred, with option to purchase all owned fixtures, furniture and equipment for $55,000. (FF&E is included in a sale's transaction.) Owner to pay real estate taxes and insurance on building. Owner to service roof heating and cooling in spring/fall - twice yearly. Owner agrees to keep elevator, yearly maintenance and certification fees with City of DeKalb and State of Illinois. Owner does not agree to mechanical failures caused by tenant. $55,000 for all owner owned Furniture, Fixtures and Equipment.***