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$ 224,000
Est. payment /mo
New
770 S Arlington Heights RD Elk Grove Village, IL 60007
UPDATED:
Key Details
Property Type Commercial
Sub Type Bus / Bus w/Real Est
Listing Status Active
Purchase Type For Sale
Square Footage 3,181 sqft
Price per Sqft $70
MLS Listing ID 12317761
Annual Tax Amount $999
Tax Year 2023
Lot Dimensions 55X58
Property Sub-Type Bus / Bus w/Real Est
Property Description
FOR SALE: TURNKEY MEXICAN RESTAURANT - ELK GROVE VILLAGE, IL! Pleased to present Tapalpa Mexican Restaurant, a thriving, fully operational Mexican restaurant located in Longfellow Plaza, a high-visibility shopping center with strong foot traffic and excellent accessibility. This is a rare turnkey opportunity featuring a well-established business with a loyal customer base, a fully equipped kitchen with all commercial-grade appliances, and an included liquor and food license. The restaurant boasts a 1,300 SF dine-in area with seating for 82 guests, along with a 55-seat outdoor patio featuring a covered deck (325 SF) and four FireSense patio heat lamps. The full bar setup includes liquor inventory (subject to negotiation). Strategically positioned at the busy intersection of Arlington Heights Rd. & JF Kennedy Blvd., the restaurant benefits from 26,140 Vehicles Per Day (VPD) and is steps away from major retailers and dining establishments such as Jewel-Osco, Walgreens, Subway, Starbucks, FedEx, Dunkin', 7-Eleven, Buffalo Wild Wings, and Planet Fitness, ensuring a steady flow of customers. Located within a dense residential and community area, it serves local residents, businesses, and institutions such as Park Chardonnay Condo Associates, Elk Grove Village Public Library, Alexian Brothers Medical, Lions Park, Rainbow Falls Waterpark, and Salt Creek Elementary School. The restaurant is well-known for its traditional Mexican dishes like Tampiquena de Carne Asada and homemade flan, alongside Mexican-American favorites such as Fajitas. The lease is structured as an exceptionally favorable setup for restaurant operators. Lease details and renewal options are available upon signing an NDA. Financial information, including annual revenue, profit/loss breakdown, and monthly operating expenses (rent, utilities, payroll, food costs), will be provided to serious buyers upon signing an NDA. The restaurant generates revenue through dine-in, takeout, catering, and bar sales, with a strong online ordering presence through UberEats, DoorDash, and other platforms. The sale includes all essential kitchen equipment such as a hood system, grease trap, fire suppression system, refrigerators, freezers, ovens, fryers, stoves, prep tables, POS system, furniture, dishware, and signage, along with a three-phase electrical service. The outdoor patio is fully equipped with a covered deck and four FireSense patio heaters. Leased items, including the ice machine and dishwasher, are not included in the sale but have transferrable lease options. The restaurant is staffed with a well-trained team of servers, bartenders, chefs, and kitchen staff, ensuring smooth operations, and a training/transition period is available upon offer negotiation. Operating hours are Monday 3:00 PM - 9:00 PM, Tuesday through Thursday 11:00 AM - 9:00 PM, Friday 11:00 AM - 10:00 PM, Saturday 3:00 PM - 10:00 PM, and closed on Sundays. There are multiple opportunities for growth, including expanding delivery and online orders, increasing catering services, boosting marketing efforts through social media, promotions, and loyalty programs, and extending business hours or hosting special events. The asking price includes the business name, fully operational restaurant, equipment, furniture, fixtures, liquor and food licenses, and training/transition support (TBD upon offer). Seller financing is not available. All inquiries must be directed to listing broker. Please do not disturb the business or its employees. Serious inquiries only - NDA and proof of funds are required for financial disclosures and private showings. Don't miss this rare chance to own a successful Mexican restaurant in a prime location! Contact us today to schedule a private tour and learn more.
Location
State IL
County Cook
Area Elk Grove Village
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Bus / Bus w/Real Est
Level or Stories 1
Structure Type Brick
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Listed by Manuel Torrejon-Regalado • Keller Williams ONEChicago