SVN | CHICAGO COMMERCIAL | 940 WEST ADAMS STREET, SUITE 200, CHICAGO, IL 60607 SALE BROCHURE

DE QUAYRESTAURANT2470 NORTH LINCOLN AVENUECHICAGO, IL 60614

Marcus SullivanAssistant Vice President312.756.7357msullivan@svn.com

Jim MartinAssistant Vice President312.756.7356jmartin@svn.com

OFFERING SUMMARY

Sale Price: $100,000

Business Size 1,650 Square Feet

License Type: Incidental Liquor And

Retail Food

Renovated: 2015

Zoning: B3-3

Market: Chicago

Submarket: Lincoln Park

Great Lincoln Park Bar/Restaurant Site In The Heart of Lincoln Park

PROPERTY OVERVIEW

PROPERTY HIGHLIGHTS

• Rare Turn Key Lincoln Park Restaurant

• Long Term Favorable Lease Rate

• Excellent Lincoln Park Location

• Fully Rehabbed And Impeccably Maintained Location

• Can Easily Accommodate A Variety of Different Hospitality Concepts

• Numerous New Mixed Use Developments In The General Area

Property Summary

DE QUAY RESTAURANT | 2470 NORTH LINCOLN AVENUE CHICAGO, IL 60614 SVN | Chicago Commercial | Page 2All SVN® offices are independently owned and operated.

DE QUAY RESTAURANT BUSINESS SALE SUMMARY

LISTING BROKERS Marcus Sullivan

BUSINESS TYPE Bar/Restaurant

BUSINESS TRADE NAME De Quay Restaurant

CORP/LLC NAME David De Quay LLC

BUSINESS ADDRESS 2470 N. Lincoln Avenue Chicago, Illinois 60614

BUSINESS SALE PRICE $100,000.00

REAL ESTATE INCLUDED? No this is a business sale only. Please see below for lease details.

STOCK OR ASSET SALE Stock Sale or Asset

BUSINESS LICENSES Incidental Liquor and Retail Food (All licenses fees shall be a pro-ration as a part of the sale).

BUSINESS SIZE Approximately 1,650 square feet on the ground floor plus a full basement for storage, coolers and office space. Lease also includes the use of Two (2) parking spaces in the rear of the building. Potential to expand into the adjacent store front.

LEASE TYPE Net Lease. In addition to the base rental rate noted below the tenant is responsible for 25% of the property taxes, property insurance and 55% of the water costs associated with the property.

LEASE TERM Six (6) years remain on the base lease term plus Two (2) Five (5) year options to renew. The base rental rate increases Three Percent (3%) annually for the remaining base lease term. Base rent for the first option is to be defined by market rent with Three Percent (3%) annual increases after the base rental rate is defined.

MONTHLY RENT Base Rent: $4,110.00 (Base rent escalates Three Percent Annually) Property Taxes, Water and Building Insurance: $924.00 (Adjusted Annually)

SECURITY DEPOSIT $7,750.00 in addition to a personal guarantee. (Security deposit is excluded from the sale of the business).

LEGAL OCCUPANCY Legal Occupancy is under 99. Current restaurant seating is for 44 in the dining room with an additional 12 seats at the bar.

AREA Lincoln Park

ACTUAL ZONING B3-3

PARKING Lease includes Two (2) parking spaces for tenants use. Ample street parking and public transportation options for customers.

EXCLUSIONS All security deposits as well as all food and liquor inventory are excluded. Please contact agent for a detailed asset list.

TYPE OF BASEMENT Full basement for coolers, storage and office use.

SHOWINGS Twenty four hours notice and broker must accompany all showings during non business hours only. This is a confidential business sale please do not discuss with staff or customers.

BUSINESS DESCRIPTION This fully improved Lincoln Park Bar/Restaurant location underwent a complete renovation just over three years ago and has been impeccably maintained. This 1,650 square foot location is fully equipped and can accommodate a number of different restaurant and bar concepts. A rare opportunity to take over a space that is truly turn key.

LOCATION DESCRIPTION This business is located in the heart of Chicago’s vibrant and well known Lincoln Park neighborhood. Numerous new mixed use developments in the general area that already benefited from strong day and evening demographics.

DISCLAIMER The information listed above has been obtained from sources we believe to be reliable;

however, we accept no responsibility for its correctness. All references to square footage

and age are approximate.

Current Asset List: de Quay Restaurant 2470 North Lincoln Avenue

Kitchen

Randell rail top refrigerator with door and drawers

Southbend Half size convection oven

Imperial Combination Grill/6 burner with refrigerated drawers

True 30 inch reach in door freezer

“Pizza Top” 30 inch reach in refrigerator with door

Southbend 6 burner range with oven

30 inch Salamander/Cheese Broiler

Two basket Fryolater with stainless guards

Various sized Prep tables

One Compartment Prep sink with landing

Dish scrap sink with Spray hose

3 compartment Pot Sink

Wall attached various stainless shelving

Free standing mobile Metro Shelving

Meat Grinder and attachments

8 quart Commercial Kitchen Aide mixer with attachments

Small Cuisinart Food Processor with attachments

Vita Mix high speed professional Blender

Induction burner

Immersion Circulator cooking unit with case

All food prep. Equipment including stainless sauce pots, stock pots,

hotel pans, sheet trays, utensils, mixing bowls, etc.

All dishware, silverware and glassware including back up unused new

items in basement

Garbage cans and cleaning equipment, vacuum cleaner

Hand sinks (2) with stainless splash guards

Dining Room

Tables, Chairs, Bar Chairs, upholstered banquet

Mirrors

Hostess Stand

Server Hutch

Small Credenza in front of Pass window

Speed Carts

Sound Speakers and equipment

POS equipment, registers, cash handling drawer that does not belong

to LAVU

Bar

Under Counter Wine Cooler

3 compartment glass washing sink

Metro Shelving

Bar Rails and drink equipment.

Glass reach in Refrigerator

Drink making barware and wine service items

Ice Drainage sink

Hand sinks (2)

Basement including Wine Room

2 office desks and swivel chairs

Filing Cabinets

All Shelving

Computer equipment, Printer telephone equipment

Storage equipment and back up bar stools, chairs

Locker

Samic High end professional Vacuum sealing machine

Office Safe

Air conditioning unit in Wine Room

Miscellaneous repair equipment and tools

Chest Freezer

Stand Up Freezer

Hot Water Heater

Keg refrigerator

All backup china, kitchen equipment

Microwave Oven

Shelving, Metro Shelving

Note: Ice machine in basement and under counter low temp dish

machines are rentals and not part of assets Trash Dumpsters are

contract assets from Rubicon/Lakeshore Waste Services, Grease

Dumpster is owned by Mahoney Environmental

Excluded Items

Dining Room Dutch and Indonesian Art works and Ceramics

Stroopwafel Maker

All food and beverage Inventory

Unused New Fabric Bolts

Cookbooks

Christmas Holiday Decorations

DE QUAY RESTAURANT | 2470 NORTH LINCOLN AVENUE CHICAGO, IL 60614 SVN | Chicago Commercial | Page 10All SVN® offices are independently owned and operated.

Additional Photos

DE QUAY RESTAURANT | 2470 NORTH LINCOLN AVENUE CHICAGO, IL 60614 SVN | Chicago Commercial | Page 11All SVN® offices are independently owned and operated.

Location Maps

DE QUAY RESTAURANT | 2470 NORTH LINCOLN AVENUE CHICAGO, IL 60614 SVN | Chicago Commercial | Page 12All SVN® offices are independently owned and operated.

POPULATION 0.25 MILES 0.5 MILES 1 MILE

Total population 4,983 20,795 84,475

Median age 26.9 27.2 29.3

Median age (male) 27.1 27.7 30.1

Median age (Female) 26.3 26.5 28.8

HOUSEHOLDS & INCOME 0.25 MILES 0.5 MILES 1 MILE

Total households 2,334 9,449 42,463

# of persons per HH 2.1 2.2 2.0

Average HH income $136,291 $137,801 $128,367

Average house value $660,707 $651,656 $684,711

* Demographic data derived from 2010 US Census

Demographics Map