Sports Bar and Dance
For Sale
$1,500,000
698 North Milwaukee Avenue, Prospect Heights, IL 60070
Established sports bar/dance venue with 365 seats, including 50-seat patio, and 4AM daily liquor license.
Property Size10,300 SF
Days on Market64
Property Features for 698 North Milwaukee Avenue
General Information
Standard status
Active
Size
10,300 SF
Property subtype
Hospitality
Additional Details
Business Included
Yes
Liquor License
Yes
Building Details
Building Size
10,300 SF
Year Built
1991
Listing Agency:
Troy Companies
(815) 404-9171
Listed By:
Chad Severson · License #IL #475.172221
(815) 404-9171
Source:
Troyrealtyltd
Added: Jun 25
Changed: Aug 23
Last Checked: Aug 26 at 6:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Troy Companies
Investment Insights
Based on property information with market context.
An established Prospect Heights sports bar and dance venue built for high-volume food, beverage, and entertainment service. The venue totals 365 seats, including a 50-seat patio (14% outdoor seating ratio). Operations run 3PM–3AM daily within a 12-hour window, and it holds a very rare 20-hour liquor license with licensed hours of 4AM daily. The business is described as having a multi-bar layout, supported by professional sound system and lighting infrastructure for DJ and dance nights.
Financial performance is reported with $1.5M gross sales in 2024 and $300,000+ Seller’s Discretionary Earnings (20% SDE margin). 2025 gross sales are noted as $1.3M, with cash flow over $500k. Video gaming is listed as an additional income stream, with $127,243 take-home (2024). The remarks also note these figures exclude any cover charges at $20 per person and over 600 covers on Fri/Sat.
The property is offered on lease terms of $10,500/month NNN, with the business stated to be in year 7 of a 10-year extension (3 years remaining). Additional reported elements include a licensed-hours advantage versus standard 2AM closures, a state-leading Modelo account, and reported seasonal revenue from outdoor bands and summer festivals.
Financial performance is reported with $1.5M gross sales in 2024 and $300,000+ Seller’s Discretionary Earnings (20% SDE margin). 2025 gross sales are noted as $1.3M, with cash flow over $500k. Video gaming is listed as an additional income stream, with $127,243 take-home (2024). The remarks also note these figures exclude any cover charges at $20 per person and over 600 covers on Fri/Sat.
The property is offered on lease terms of $10,500/month NNN, with the business stated to be in year 7 of a 10-year extension (3 years remaining). Additional reported elements include a licensed-hours advantage versus standard 2AM closures, a state-leading Modelo account, and reported seasonal revenue from outdoor bands and summer festivals.
Key Highlights
- Established 1991 sports bar and dance venue with 365 total seats, including a 50‑seat patio (14% outdoor seating).
- 4AM daily liquor license with 20‑hour license; licensed hours maximize late‑night operations and allow earlier opening for additional gaming revenue.
- 2024 performance includes $1.5M gross sales and $300,000+ Seller’s Discretionary Earnings (20% SDE margin).
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Liquor license
Location Intelligence
Trade Area within ½ mile
626
Businesses Nearby
46k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 61%
Shops & Services 34%
Beauty & Spa 5%
Cooper's Hawk Winery & Restaurant
Dining
18,257 visits/mo
0.2 miles
Speedway
Shops & Services
15,274 visits/mo
0.4 miles
Starbucks
Dining
6,979 visits/mo
0.1 miles
Mexico Restaurant
Dining
2,903 visits/mo
0.4 miles
Massage Envy
Beauty & Spa
2,265 visits/mo
0.2 miles
Demographics for 60070, IL
15,840
Population
6,353
Households
2.5
Avg Household Size
41
Median Age
36%
College-Educated
84%
High-School Grad
4.0 sq mi
ZIP Area
3,960
Density / Sq Mi
$91,210
Median Household Income
$47,929
Median Earnings
$1,391
Median Rent
$343,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bar & Pub - Established sports bar/dance venue with 365 seats, including 50-seat patio, and 4AM daily liquor license.
Where is this bar & pub located?
The property is located at 698 North Milwaukee Avenue Prospect Heights, IL.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Established 1991 sports bar and dance venue with 365 total seats, including a 50‑seat patio (14% outdoor seating).; 4AM daily liquor license with 20‑hour license; licensed hours maximize late‑night operations and allow earlier opening for additional gaming revenue.; 2024 performance includes $1.5M gross sales and $300,000+ Seller’s Discretionary Earnings (20% SDE margin).
