$1,399,000
7725 W Belmont Avenue Elmwood Park, IL 60707
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$1,399,000
Est. payment /mo
5,350 SqFt
UPDATED:
10/14/2024 05:07 AM
Key Details
Property Type Commercial
Sub Type Bus / Bus w/Real Est
Listing Status Active
Purchase Type For Sale
Square Footage 5,350 sqft
Price per Sqft $261
MLS Listing ID 12183327
Annual Tax Amount $38,000
Tax Year 2022
Lot Dimensions .124
Property Description
Tony D's, located at 7725 W Belmont Ave, Elmwood Park, Illinois, offers a distinctive investment opportunity by combining a well-established business with a prime location and a versatile business model. This property, which was re-concepted in 2021, is strategically positioned at the bustling intersection of W Belmont Ave and Harlem Ave, presenting a significant value proposition with its blend of high gaming revenue, versatile facilities, and broad usability that appeals to various business concepts. Elmwood Park provides an ideal backdrop for this investment, characterized by its robust local economy and a demographic profile that supports high levels of discretionary spending. The property's location in a dense and economically vibrant area enhances its appeal as a commercial hub. The proximity to major thoroughfares and public transit options increases its accessibility and visibility, crucial factors in attracting both regular patronage and passing trade. The property spans 5,350 square feet, including a spacious dining area that accommodates 90 indoor seats and 25 outdoor seats. This configuration supports the existing restaurant and bar business while also offering potential for additional revenue streams. The high gaming volume, which generated is a significant contributor to the business's income, and the property's setup is conducive to further expanding this revenue stream. Additionally, the space is versatile enough to accommodate events, providing an additional income opportunity. Elmwood Park's demographic profile, with a high rate of employment and above-average household incomes, suggests a favorable environment for both casual dining and nightlife. The property's layout is well-suited for hosting events, making it a popular spot for gatherings in the community. There is significant potential to expand the current business model to include more diverse dining options, such as introducing new menu items or themed nights, which could cater to wider tastes and attract a broader customer base. The recent upgrades have equipped Tony D's with modern facilities and a design that meets current market expectations for style and functionality. New owners will benefit from a turnkey operation where much of the initial setup and design work has already been completed to a high standard. This allows them to focus on business growth and enhancing operational efficiency from day one. Investing in Tony D's offers more than just a traditional restaurant space; it provides a multi-faceted business environment in a key location with significant growth potential. Whether continuing with the current business model or introducing new concepts, this property promises to be a profitable venture for any discerning investor. Its ability to adapt to various uses, combined with the existing high-quality facilities and the vibrant local market, makes it a standout opportunity in the Elmwood Park real estate and business landscape.
Location
State IL
County Cook
Interior
Cooling Central Air
Fireplace N
Exterior
View Y/N true
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Theodore Aretos • EatZ Real Estate Group LLC
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Greg Cirone
Managing Broker | License ID: 471003959
Managing Broker License ID: 471003959