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Restaurant & Pub For Sale

Location  Illinois,United States
Asking Price Range  < $250K
Gross Revenues  $465000
Net Profit / Cash Flow  $40000
Cash Flow Type  Sellers Discretionary Cash
Seller Finance  No
Year Established  1994
Number of Employees  4 - 5
Relocatable  Yes
Number of Employees  4 - 5
Real Estate  Leased
Training  Staff in place. Proprietors will train buyers.
Reason for Sale  Proprietors wish to persue other interests
Description  Established in 1994, and at this location since 2000, Boone's Place, Restaurant & Pub is being offered for sale. The proprietors are ready to strike out on other career ventures, presenting the Buyer with a legacy of fine food and service from which to build upon. The business is located in leased premises on the upper three floors of the historic property at 515 South Main Street in Galena, Illinois. This is in the heart of one of Illinois' most popular tourist destinations. The first floor is occupied by the Galena Cellars Winery Retail Outlet. The adjacencies complement each other in attracting customers that patronize both businesses. The two businesses also participate in several co-op promotional events annually. Known for its' Homemade Soups, Specialty Salads and Boone's Famous French-Dip(see picture). They also offer a full menu, as well as weekend specials such as Hand-Dipped Beer-Battered Cod on Fridays and cut-to-order Prime Rib on Saturdays. There is a Banquet Room located on the third floor offering potential for Weddings, Large Group Meetings, Private Parties and other gatherings of up to 100. The fourth floor contains the prep area supporting the restaurant and banquet facility. Continuation of the existing lease will be available to the buyer. The Landlord is offering a rate that is very attractive and well below the prevailing rates in this dynamic market. The business assets and income stream are being offered at an affordable price ($175,000) based on performance over the last five years. There is potential for increased incomes limited only by the buyers creativity and willingness to work hard at continuing this successful business. Financials are available to Bank Qualified Buyers. Email or call Gregory Reddick at 563-590-8201 for more information on this restaurant & pub for sale.
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