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PostPosted: Fri Jan 30, 2015 8:30 am 
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pizza_Place: Lou Malanati's
Classic place. OK Ribs, living on past fame, good sauce, classic good meals in the dining room, good bar for good people as well next door.

Asking price $ 7 MILL!!!!!!!!!!!!!!!!!!!!!!!!

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PostPosted: Fri Jan 30, 2015 9:50 am 
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Lucky if they get half of that.

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PostPosted: Fri Jan 30, 2015 10:11 am 
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spmack wrote:
Lucky if they get half of that.


SP Mack , Real Estate Broker has set the price! at $3.5 Mill!

The question is, are the valuing the property or the business to get that $7 mill.

$7 Mill, would basically claim they make an annual gross of about $2.5 M.

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PostPosted: Fri Jan 30, 2015 10:22 am 
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pizza_Place: Milano's
someone should turn it into a burger place


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PostPosted: Fri Jan 30, 2015 10:22 am 
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Why don't you buy it, biggie, and start serving up your ribs there?

Call it Ribfan.

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PostPosted: Fri Jan 30, 2015 10:25 am 
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Dr. Kenneth Noisewater wrote:
Why don't you buy it, biggie, and start serving up your ribs there?

Call it Ribfan.


As a guy who sold and leased places like this in the past, NO WAY. That place lives on reputation. Its not terrible either and I enjoy the place, but its still not great food. So you have people already going there. No upside. if I ever opened a place it would be buying a shithole space that needs all the the work.

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PostPosted: Fri Jan 30, 2015 10:26 am 
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bigfan wrote:
spmack wrote:
Lucky if they get half of that.


SP Mack , Real Estate Broker has set the price! at $3.5 Mill!

The question is, are the valuing the property or the business to get that $7 mill.

$7 Mill, would basically claim they make an annual gross of about $2.5 M.

I've found my calling!

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PostPosted: Fri Jan 30, 2015 10:29 am 
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If you're looking for the BBQ joint starter kit, Smokey's BBQ at 5481 Northwest Highway can be had for the paltry sum of 900 grand, building included. Serving dozens of customers a day, including city workers and people who end up there after erroneously googling Smoque.

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PostPosted: Fri Jan 30, 2015 10:41 am 
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$900 K? lol

You need to talk to my real estate guy...maybe you have heard of him? SP MACK?

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PostPosted: Fri Jan 30, 2015 10:54 am 
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bigfan wrote:
$900 K? lol

You need to talk to my real estate guy...maybe you have heard of him? SP MACK?


I'm already sleeping with one realtor. I like spmack and all, but I don't need that kind of complication.

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PostPosted: Fri Jan 30, 2015 11:07 am 
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Telegram Sam wrote:
bigfan wrote:
$900 K? lol

You need to talk to my real estate guy...maybe you have heard of him? SP MACK?


I'm already sleeping with one realtor. I like spmack and all, but I don't need that kind of complication.

Your loss.

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PostPosted: Fri Jan 30, 2015 11:11 am 
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3 way?

and I would like a 20% referral for setting it up!

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PostPosted: Fri Jan 30, 2015 11:39 am 
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Dr. Kenneth Noisewater wrote:
Why don't you buy it, biggie, and start serving up your ribs there?

Call it Ribfan.


At least bigfan would make sure the customers get enough BBQ sauce.

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PostPosted: Fri Jan 30, 2015 12:11 pm 
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Jaw Breaker wrote:
Dr. Kenneth Noisewater wrote:
Why don't you buy it, biggie, and start serving up your ribs there?

Call it Ribfan.


At least bigfan would make sure the customers get enough BBQ sauce.


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PostPosted: Fri Jan 30, 2015 12:15 pm 
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You could sell ribs by the one.

https://www.youtube.com/watch?v=KNQRqAoT-2c

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PostPosted: Fri Jan 30, 2015 12:54 pm 
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I enjoy their boneless rib sandwich and the boobies that serve it. It seems like a restaurant that doesn't know what it want to be. The permanent tent part is a sportsbar for bros while the part in the actual building looks very upscale.

If I were to buy it I'd probably cannibalize the lot and either sell off the portion with the tent or build out the lot with apartments above.

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PostPosted: Fri Jan 30, 2015 12:57 pm 
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pizza_Place: Pequod's / Barnaby's
bigfan, buy it and you can fund my new restaurant idea.

Spoiler alert, it focuses on meatloaf and create your own mashed potato dishes.

It is genius.

I'm thinking like...a mashed potato dispenser (like a soft serve ice cream machine) and then a salad bar full of mashed potato condiments!

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PostPosted: Fri Jan 30, 2015 1:09 pm 
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pizza_Place: Lou Malnati's
Telegram Sam wrote:
If you're looking for the BBQ joint starter kit, Smokey's BBQ at 5481 Northwest Highway can be had for the paltry sum of 900 grand, building included. Serving dozens of customers a day, including city workers and people who end up there after erroneously googling Smoque.

Proud to be your sig, Sammy. I think!

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PostPosted: Fri Jan 30, 2015 1:10 pm 
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pizza_Place: Lou Malnati's
Does anyone remember the Courtyard Inn on Wells?
Same owners but located across the street.

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PostPosted: Fri Jan 30, 2015 1:10 pm 
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Jaw Breaker wrote:
Dr. Kenneth Noisewater wrote:
Why don't you buy it, biggie, and start serving up your ribs there?

Call it Ribfan.


At least bigfan would make sure the customers get enough BBQ sauce.

big difference between ENOUGH and SOME

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PostPosted: Fri Jan 30, 2015 1:35 pm 
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immessedup17 wrote:
bigfan, buy it and you can fund my new restaurant idea.

Spoiler alert, it focuses on meatloaf and create your own mashed potato dishes.

It is genius.

I'm thinking like...a mashed potato dispenser (like a soft serve ice cream machine) and then a salad bar full of mashed potato condiments!


'hey honey, wanna go out for mashed potatoes tonight ? '


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PostPosted: Fri Jan 30, 2015 1:52 pm 
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immessedup17 wrote:
bigfan, buy it and you can fund my new restaurant idea.

Spoiler alert, it focuses on meatloaf and create your own mashed potato dishes.

It is genius.

I'm thinking like...a mashed potato dispenser (like a soft serve ice cream machine) and then a salad bar full of mashed potato condiments!


uhm

http://www.themeatloafbakery.com/

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PostPosted: Fri Jan 30, 2015 1:59 pm 
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Telegram Sam wrote:
If you're looking for the BBQ joint starter kit, Smokey's BBQ at 5481 Northwest Highway can be had for the paltry sum of 900 grand, building included. Serving dozens of customers a day, including city workers and people who end up there after erroneously googling Smoque.


This place had some of the worst bbq i've ever eaten. (Eveytime) I drive past it, it's always empty.


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PostPosted: Fri Jan 30, 2015 2:00 pm 
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i really don't understand the point of meatloaf

if you're going to take a mass of ground beef and form it into a shape and cook it, why not just make a burger


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PostPosted: Fri Jan 30, 2015 3:15 pm 
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Mine would be a dine-in and take-out fast casual.

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PostPosted: Fri Jan 30, 2015 3:30 pm 
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Shit, if this is gonna be that kind of party, I'm(u) gonna stick my(his) dick in the mashed potatoes.

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PostPosted: Fri Jan 30, 2015 4:55 pm 
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bigfan wrote:
immessedup17 wrote:
bigfan, buy it and you can fund my new restaurant idea.

Spoiler alert, it focuses on meatloaf and create your own mashed potato dishes.

It is genius.

I'm thinking like...a mashed potato dispenser (like a soft serve ice cream machine) and then a salad bar full of mashed potato condiments!


uhm

http://www.themeatloafbakery.com/


Not to mention the old Mashed Potato Club restaurant. It was a modest hit for a while, then changed locations before closing up about five years later. I think the concept was good but the location in River North was not well thought out for a casual restaurant.

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PostPosted: Wed Apr 08, 2015 12:11 am 
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Staying. Wonder what the best offer was.

http://www.chicagobusiness.com/realestate/20150407/CRED03/150409899/old-towns-fireplace-inn-to-stay-expand

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PostPosted: Fri Apr 10, 2015 12:06 pm 
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Telegram Sam wrote:

They had some solid offers, but also guessing that money needs to be split up, taxes paid and it is obvious they just floated the sale to see what they could get as they have expansion in mind.

The food really is not that good, they just provide a normal meal in 2 different settings. One for the bar/tent area and the other in the dining room, where its a comfortable old school, good cushioned chairs thing going on. Havent been to the dining room side in 5+ years, but I am really not a fan of the places with the shitty ikea chairs and I am eating dinner within 6 inches of someone else and literally in there conversation....like so many new places do these days.

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