Seller's Comments and Description:
This manufacturer makes products for the U.S. Government and has been doing so for more than 40 years. Most of the products they manufacture are made from steel tubing. The owner has had this business since the late 1960’s & he’s considering retiring. The price includes the Real Estate. The average annual cash flow for the last 3 years was $968,534.00 and the average gross annual sales were $3,192,640.
The current owner started the business in the late 1960’s with a family member. They’ve been making products for the U.S. Government for more than 40 years. The business is located in Chicago. There’s plenty of parking available for the employees. The building is about 17,403 sq ft and there are 13 surveillance cameras that can be viewed online or on a tablet or smart phone. They have approximately $1,400,000 in manufacturing machinery and office equipment. The equipment includes several CNC machines and a plating machine. They do spinning in-house, while others usually out source it, which leads to higher costs and very little control over quality. They also have their own dies for stamping and they treat their own water waste with in-house pollution remediation equipment.
The average annual cash flow for the last 3 years was $968,534.00 and the average gross annual sales were $3,192,640. Payroll runs about $20,000 per week, on average and the current owner works 4 days per week or about 40 hours per week.
The annual real estate taxes are +/- $16,100. The lot size is 36,396 sq ft. The building is 17,403 SF. It’s a 1-story commercial building with plenty of parking. The building is located at a busy intersection in Chicago. The asking price for the Real Estate is $695,000.00. The asking price for the Business (not including inventory) is $4,655,000.00. The total purchase price for the Business & Real Estate is $5,350,000.00, not including inventory. The owner(s) prefer to sell the Business & Real Estate together.