High-Volume Well-Established Italian Restaurant & Pizzeria-River North

Chicago, IL

Seller Financing Available

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Asking Price:$479,000
Gross Revenue:$1,367,285
Rent:$10,000/Month
Established Year:2011
Cash Flow:$142,921
Inventory:$20,000
FF&E:$200,000
BUSINESS DESCRIPTION

Sales Up Year After Year - 2024 Sales Up 9% YTD

A charming and authentic casual Italian eatery with a prime downtown location, steps away from the scenic Chicago River and bustling Magnificent Mile.

Serving amazing authentic Italian cuisine including tasty antipasti, fresh salads, homemade soups, hearty sandwiches, handcrafted pizzas, savory pasta and more. As well as mouthwatering tiramisu and cannoli, plus a wonderful variety of gelato. In addition to espresso drinks, beer and wine!

Full-service restaurant. Dine-in, carryout, pickup and 3rd party delivery, plus catering. Online ordering also available. And a loyalty program with over 3,000 loyal patrons!

Recently remodeled. Features a warm and welcoming interior with high ceilings, large expansive windows, convenient carryout area, bar area, ample seating both inside & out (fenced-in patio). Plus, an open fully-equipped commercial kitchen and additional space for storage.

Well established over 13 years. Independent - no royalty, advertising or transfer fees. Name and recipes included. Family owned and operated. Current owner oversees the operation, plus had a general manager.

Sales up year after year. 2024 sales through October $1,226,100. 2024 sales up 9% YTD!

Prime corner retail space on the bottom floor of a prominent 56-story high-rise condominium building in the heart of the city. Surrounded by many other high-rise apartment/condominium complexes, big corporate offices, major hotels and iconic landmarks. Also, within walking distance to the River Walk, a beautifully developed pedestrian path along the river featuring boat tours & recreational spaces and the Magnificent Mile, a premier shopping & entertainment district. Plus, close to other downtown attractions like The Wrigley Building, The Merchandise Mart, Millennium Park, Marina City Goldberg, Navy Pier, House of Blues, The Gallery District, The Chicago Theatre and much more.

The restaurant’s central location makes it a favorite for nearby residents looking for a leisurely meal close to home and office workers looking for quality, fast service during their lunch breaks. And the restaurant’s proximity to major hotels and attractions ensures it’s a go-to option for visitors exploring downtown Chicago.

Perfectly situated in a bustling area of the city with high pedestrian traffic, ensuring high visibility and consistent patronage. Also, close to major CTA bus and train lines, making it easy to reach from any part of the city. And surrounded by multiple parking garages, making it convenient for drivers despite its urban setting.

Well positioned in River North, one of Chicago’s most vibrant and dynamic neighborhoods. Known for its rich history, art & culture, shopping & entertainment, parks & recreation and iconic landmarks. Situated just N of the Loop, River North also offers easy access to Chicago’s central business district. Plus, this upscale neighborhood is bordered by the Chicago River to the S and W, providing scenic views and riverside attractions.

Feel free to stop by the location as a customer 1st. This is a HIGHLY confidential listing, please DO NOT talk to any of the owners, employees or patrons. If interested, contact EatZ for more information. Showings by appointment only outside of business hours.

Listed By Pat Mahoney at EatZ & Associates


DETAILED INFORMATION
Location
Chicago, IL
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
2,300
Lease Expiration
31/12/2032
Employees
13
Furnitures, Fixture & Equipment(FF&E)
Included in Asking Price
Facilities
Leased space $10,000/mth gross (also includes water and garbage). Current lease expires 2032 with one 5-year option. Square Feet: 2,300. Seating: 60 Inside & 60 Outside. Days/Hrs of Operation: Tu-Th 10a-9p, Fr-Sa 10a-10p, Su 12n-9p (Closed Mondays). Owners Role: Owner operated - supervisory (oversees operations) + has a general manager. Value of FF&E: Included In Asking Price (Valued at $200,000). Value of Inventory: $20,000 (Not Included In Asking Price).
Competition
Some of the best & most authentic Italian cuisine in the city. Offers a genuine taste of Italy in downtown Chicago. Fresh Italian dishes prepared from old family recipes. Everything prepared from scratch using high-quality ingredients. All in a cozy interior, ideal for a casual meal with family, friends, coworkers, hotel guests and visitors. Plus, a quaint outdoor patio with picturesque views of the Chicago skyline & Chicago River for an incredible alfresco dining experience. Well-known for its cozy atmosphere, delicious food and friendly service.
Growth & Expansion
Local favorite Italian restaurant and pizzeria. Neighborhood gem. A hot spot in River North. A must visit. Well established customer base. Loyal following. And tons or regulars. A stand-out choice for both locals and tourists alike! And rave reviews. Rated 4.7 Grubhub, 4.6 Google, 4.5 TripAdvisor, 4.5 Facebook, 4.3 Yelp and more. Also, Featured on ABC’s Channel 7 The Hungry Hound and a great review by David Portnoy at Barstool. Highly rated and recommended, stellar reputation to continue to build upon!
Financing
Yes, to a well-qualified buyer with a minimum of $200,000 down.
Support & Training
Two weeks on-site comprehensive training (open to discuss).
Reason for Selling
Personal health issues.
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Pat
Mahoney
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Pat Mahoney