CHICAGO--(BUSINESS WIRE)--As the auction continues to be a highly effective way to sell operating businesses, another example is found as Mike DiStefano heads to the auction block to sell his restaurant in Burbank, Illinois. Now an official with the NHL, DiStefano plans to hand over the reins of his successful eatery to the highest bidder on December 15th.
“I am so happy with the friends I made and mark we made in the business,’ said DiStefano. “34 years is a long time and it’s time to retire for me and let someone else take over.”
Since landing a position with the NHL, DiStefano has been running two careers. “It’s a dream come true for me.” DiStefano played as a junior league teammate of Blackhawks great Chris Chelios, until he was injured and decided he needed a new direction. This is how the Dugout was formed.
In September, the Dugout became the 109th inductee in the Vienna Beef Hall of Fame, chosen from thousands of restaurants nationwide. Menu options range from steak to the best pepper and egg sandwich, according to legendary Chicago dining journalist Pat Bruno.
10 schools and parks nearby have provided the Dugout a built-in customer base that has supported the restaurant over the past 34 years. “You’ll find plenty of repeat customers in here who still frequent the eatery 3 decades later, only this time with their children,” said Dino Diliberto, with Diliberto Real Estate Services, the firm successfully auctioned the Creamery chain last year.
“The real estate and business is up for bids”. According to Diliberto, “Interested bidders range of end uses”. But the common value is certainly the name and longevity of the location.” Yearly revenues from the boutique hotdog expert have been as high as $800,000. Bids will open at just $250,000.
According to Gino Diliberto, “bidders have a shot at a very good investment opportunity.” Where the potential revenue is a multiple of the opening bid.”
Interested bidders are encouraged to obtain a full bidder’s package, including the terms of sale, financials and contracts by calling 708-361-(BIDS) 2437.
Diliberto Real Estate Services, LLC is a global leader in Real Estate Advisory and Auction Services, with transactions across America. Based in Chicago and Palos Heights, IL, services range from real estate advisory to loan and real estate auctions. Solutions also include new capital formation to expand or reduce debt.