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

*** 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 heat/cool 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. Turn-key opportunity, this business has been successfully established since 2004, currently holding 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. Successful established business since 2004. SHOWING INSTRUCTIONS: Monday showings are available. If you visit this establishment during operating hours, DO NOT DISCUSS BUSINESS WITH THE STAFF. Confidential business financials available upon request to qualified buyer. ***LEASE TERMS - $4,800 1st year Gross Rent. 2nd year Gross Rent $5,800. 3% escalation clause for Third-Fifth years, 3 year minimum term with 5 years preferred (with option to purchase all owned equipment, fixtures and furniture for $79,500)*. 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. $79,500 for all owner owned Furniture, Fixtures and Equipment.***