| Business Description: Restaurant and bar with high occupancy in high-profile location for sale. |
| Located on a high-profile corner in the Home Suites by Hilton hotel, a newer construction high-rise tower, surrounded by hotels, luxury residential and entertainment. This offering is a court supervised sale of the assets and intellectual property of etta, a high-grossing popular chef-established neighborhood restaurant that serves wood-fired food. Centered around the wood-fired hearth, expert culinary team peppers each menu with their favorite seasonal dishes that are meticulously crafted for a top-notch culinary experience. From crave-worthy pizza and warm focaccia, to fresh, crisp seasonal salads to family-style shared pig and lobster picnics, etta has something for everyone. Just as the kitchen is the focal point of interaction within a home, etta’s open kitchen design gives guests that same intimate experience. Each location features a wood-burning brick oven, as well as a giant wood-fired hearth for spit roasting and grilling.
Upon approval of buyer, the lease terms will be assigned/negotiated subject to landlord approval. Terms of sale and bidding procedures will be provided upon execution of non-disclosure and approval of prospective interest. |
| Location: River North |
| River North is a lively neighborhood in the Near North Side. It boasts luxe shops and eateries, plus posh nightclubs and cocktail bars. Opened in 1930 in a former industrial area, the sprawling Merchandise Mart attracts throngs of shoppers to its home and office design showrooms. Surrounding the Mart, artist’s studios in converted warehouses and lofts form a hub that sustains the area’s foremost art galleries. |
| Purchase Price | Negotiable | Property Taxes | $18/SF |
| Lease Rate | $84/SF | OpEx | N/A |
| Size (Approx.) | 5,231 SF | Licenses | Must apply for. |
Bidding Procedures
| Dates | Bid Deadline | Bidding Procedures | |
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Each Bid must be transmitted to the Notice Parties via email or regular mail so as to be actually received by the Notice Parties on or before the Bid Deadline. |
Full details on the bidding procedures can be found in the Data Room. Data Room access will be provided upon completing a Non-Disclosure Agreement. Please contact the Kudan Group for more information. | |
| Auction | Potential Bidders | ||
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If the Debtors receive a Qualified Bid for the Assets, other than the Stalking Horse Bid for such Assets, the Debtors will conduct the Auction to determine the Successful Bidder with respect to such Assets. |
To participate in the bidding process or otherwise be considered for any purpose under these Bidding Procedures, a person or entity interested in consummating a Sale must deliver: 1. an executed confidentiality agreement on terms acceptable to the Debtors, to the extent not already executed; 2. information demonstrating that the Potential Bidder has the financial capability to consummate the applicable Sale, including, but not limited to, the most current audited and unaudited financial statements of the Potential Bidder, Financials of the equity holder(s) of the Potential Bidder or such other form of financial disclosure as is acceptable to the Debtors, and a written funding commitment acceptable to the Debtors and their advisors of the equity holder(s) of the Potential Bidder to be responsible for the Potential Bidder’s obligations in connection with the applicable Sale); and 3. a letter of intent that demonstrates such Potential Bidder’s intent to submit a Bid that meets or exceeds the Minimum Bid. |
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| Sale Hearing | |||
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A hearing to consider approval of the Sale of the Assets to the Successful Bidders is currently scheduled to take place before the Honorable Karen B. Owens in the United States Bankruptcy Court for the District of Delaware. |
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| Qualified Bidders | |||
| A qualified bidder is a Potential Bidder whose Financials, or the Financials of its equity holder(s), as applicable, demonstrate the financial capability to consummate the applicable Sale and whose Bid is a Qualified Bid. |
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Downloads
Select to download document.
| Marketing Material – River North | Offering Memorandum – Portfolio | Non-disclosure Agreement | |
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Pictures
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360° Virtual Tours
Contact
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Brian Laskov Managing Broker 312-575-0480 Ext. 114 brian@kudangroup.com |
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Georg Simos Senior Broker 312-575-0480 Ext. 113 georg@kudangroup.com |
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Juan Carlos Gomez Principal 312-575-0480 Ext. 111 juancarlos@kudangroup.com |
Inquire
| 700 N. Clark St., Chicago, Etta River North |
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