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    3930 School St Chicago, IL 60618

    For Sale
    $185,000

    Profitable Chicago Bar & Restaurant - High NOI

    Property size:
    1,447 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    368
    This thriving European-style sports bar and cafe, located at 3930 W School Street in Chicago's vibrant Avondale neighborhood (zip code 60618), presents a unique investment opportunity. The 1,447 square foot space boasts a 32-foot wrap-around bar, exposed ceiling timbers, brick walls, and both a private outdoor patio and additional sidewalk seating. Operating successfully for over 10 years, this established business offers full kitchen and bar service seven days a week, catering to diverse clientele with gourmet coffee during the day and beer/cocktails alongside European football matches in the evenings. The business also generates revenue from private party rentals. The asking price of $185,000 includes all furniture, fixtures, and equipment (FF&E), bar inventory, and the business name. Annual gross revenue exceeds $315,000, with a current Net Operating Income (NOI) of $106,079, representing a strong 57.34% cap rate. The property is currently operating under a modified lease with three years remaining, at a monthly rent of $4,000. The sale is an asset sale, not a stock sale

    Property Features for 3930 School St

    General Information

    Property type
    Restaurants
    Square Feet
    1,447 SF

    HighLights

    • Includes all furniture, fixtures, and equipment (FF&E), and inventory.
    • Features a private outdoor patio and additional sidewalk seating.
    • Established venue for private parties and sporting events.
    • Generates revenue through video slots and other gaming opportunities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    MILANO’S Cafe Bar Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.7261696
    Latitude
    41.9410883

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    FAQs

    What type of property is this?
    Restaurant - Profitable Chicago Bar & Restaurant - High NOI
    Where is this restaurant located?
    The property is located at 3930 School St Chicago, IL.
    What is the asking price?
    The asking price for this property is $185,000.
    What are key features of this property?
    This property features: Includes all furniture, fixtures, and equipment (FF&E), and inventory.; Features a private outdoor patio and additional sidewalk seating.; Established venue for private parties and sporting events.
    Request Owner's contact information
    3930 School St Chicago, IL 60618
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    Chicago, IL 60618
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3930 School St Chicago, IL 60618
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