Established Chicago Laundromat — Logan Square
Business Overview
Solid neighborhood laundromat in Chicago's desirable Logan Square neighborhood. The business has operated continuously for 14 years under the same ownership, building a loyal customer base in this densely populated urban neighborhood. Currently coin-operated with an opportunity for a new owner to upgrade to card payment and potentially increase revenue. The business runs with minimal staff — one part-time attendant covers evening hours.
Key Metrics
Financial Details
- Gross Revenue (annual)
- $195,000
- Net Income (annual)
- $82,000
- Monthly Rent
- $3,200
- Utilities (estimated monthly)
- $950
- Water & Sewer (monthly)
- $2,800
- Electric (monthly)
- $2,200
- Gas (monthly)
- $1,200
- Payroll (monthly)
- $6,800
- Pickup/Delivery Revenue (monthly)
- $3,500
- Machine Lease Payments (monthly)
- None — owned outright
Property Details
- Square Footage
- 2,100 sq ft
- Washers
- 16
- Dryers
- 12
- Machine Brands
- Speed Queen
- Machine Ages
- 7.1 years
- Payment System
- Coin
- Machine Details
- 12x 20lb, 14x 40lb, 12x 60lb, 10x 80lb washers. 40 dryers (mix of 30lb, 45lb, 75lb stack).
- Parking Spots
- 6
Lease Details
- Monthly Rent
- $3,200
- Lease Expiry
- Not specified
- Renewal Options
- One 5-year option
- Rent Increases
- Not specified
- Years Remaining
- 3.5 years
Operations
- Owner Hours
- 15 hours/week (Semi-Absentee)
- Employees
- 1
- Hours of Operation
- Not specified
- Services Offered
- Vending Machines, Surveillance
Assets & Valuation
- FF&E Value
- $320,000
- Inventory Value
- $4,000
- Real Estate Included
- No
Seller Financing
- Seller Financing
- Available
- Details
- Seller open to carrying 15% note at 6.5% over 7 years. SBA pre-qualification preferred.
Due Diligence
- Training & Transition
- 60 days of full training including WDF operations, route management, employee scheduling, and vendor relationships.
- Books Verification
- Card system exports (CleanCloud POS), P&L statements, 3 years of tax returns, and utility bills all available for review.
Market Analysis
Competition
Two competitors within 1 mile but neither offers wash-dry-fold or pickup/delivery. High barrier to entry in this area due to zoning.
Growth Opportunities
Commercial accounts (hotels, Airbnb hosts) untapped. Could add a second pickup/delivery van. Evening hours underutilized.
Location
- City / State
- Chicago, Illinois
- Neighborhood
- Logan Square
- Nearby Anchors
- Corner location on busy commercial street, next to coffee shop and grocery store
Reason for Selling
Owner retiring after 14 years. Looking for buyer who will continue serving the neighborhood.
Disclaimer: LaundroList does not verify financial information provided by sellers. Always conduct proper due diligence — including reviewing tax returns, utility bills, and lease documents — before completing any transaction.