#1 • 100% INTEREST IN DAPAN INVESTMENTS LLC & DAPAN ENTERTAINMENT INC.
Part of Goodfella's Bar & Grill (timed auction by Gallivan Auctioneers & Appraisers)
Status: Sold
Gallivan Auction & Appraisers, on behalf of Christopher R. Schmidgall, Chapter 7 Trustee, invites sealed bids for the purchase of 100% membership interest in Dapan Investments LLC. LLC’s primary asset is the commercial real property at 11200 W 129th Ave, Cedar Lake, Indiana — formerly home to Goodfella’s Bar & Grill, a long-established Cedar Lake landmark. The successful bidder acquires 100% of the LLC and, through it, ownership of the underlying real estate. ALSO INCLUDED IN THE SALE IS 100% INTEREST IN DAPAN ENTERTAINMENT INC. DAPAN ENTERTAINMENT HOLDS THE LIQUOR LICENSE #RR4531888. RIGHTS TO THE LICENSE, CURRENTLY IN ESCROW, IS INCLUDED IN THE PURCHASE, SUBJECT TO INDIANA LAW. (SEE DOCUMENT ON OUR WEB PAGE) This is a rare opportunity to acquire a commercially zoned, 2-acre improved property in Cedar Lake’s growing commercial corridor along US 41. The site features a 3,278 SF brick building with a terraced patio, drive-up window, cold storage, and an 18,200 SF paved parking lot. Commercial zoning and existing infrastructure support a wide range of owner-user and investor applications. *SPECIAL NOTE! EMINENT DOMAIN ACTION The State of Indiana is taking a strip of land to add a center turn lane on U.S. 41. Documents regarding the action may be seen and downloaded from our website. The State is basically paying the owner an amount of $56,700 for the .272ac parcel. The purchaser of the property will receive the payment. INSTRUCTIONS FOR REGISTRATION TO BID Simply complete the Bidder registration Form in full, sign and return to matt@njgallivan.com. We will then send you wire instructions to make your $15,000 deposit. Once your deposit has reached our bank, we will approve you to bid. Abbreviated Terms (Complete terms of sale will be posted to our website): A 10% Buyer’s Premium will be added to the high bid, and when added, will result in the total purchase price. We are selling 100% Membership in the LLC, which owns the real property, and 100% ownership of the corporation holding the liquor license. the sale is “As-Is”, free and clear of liens Deposit due at bid qualification — $15,000 non-refundable, certified funds or wire transfer prior to bidding. Deposits from unsuccessful bidder will be returned within 3 days after preliminary Bankruptcy Court approval. Upon preliminary Court approval, Within 3 days after bidding ends, Purchaser is required to pay an additional deposit equal 10% of the total purchase price. Not subject to financing contingency Sale is of LLC membership interest and corporation interest only. All bidders must perform their own independent due diligence. Sale subject to Bankruptcy Court approval PROPERTY INFO- Address: 11200 W 129th Ave, Cedar Lake, IN 46303 County: Lake County / Hanover Township Lot Size: +/- 2.00 AC (435.6 ft x 200 ft) Zoning: Commercial- B-1 Parcel No.: 45-15-20-278-026.000-014 Annual Taxes: Approx. $14,269/year What You Buy: 100% membership interest in Dapan Investments LLC and Dapan Entertainment, Inc. BUILDING INFORMATION- Primary Building: 3,278 SF | Brick, 1-story | Built 1978 (Renovated ~2000) Terraced Patio: 3,073 SF (added 2012) Canopies: 540 SF commercial Paved Parking: ~18,200 SF asphalt lot Utilities: Sewer, Gas, Electric | Public road access | No flood hazard Assessed Value: $530,000 total (2022) — Land: $261,000 | Improvements: $269,000 Former Use: Bar & Grill (previously a bank) LOCATION HIGHLIGHTS- US Route 41 (W 129th Ave): Direct frontage — primary commercial artery Chicago Metro: ~40 miles southeast of Chicago Loop Hammond / Gary, IN: ~15 miles northwest Merrillville, IN: ~10 miles south — major retail hub Lake County Seat (Crown Point): ~12 miles south NOTE* The new owner of the property must submit their plans to the Planning Department. If new owner wishes to sell alcohol, they will be required to obtain a zoning variance. KEY DEMAND DRIVERS- US 41 Corridor – High-traffic commercial artery with strong visibility and access Cedar Lake Commercial Growth – Active development along the US 41 corridor NW Indiana / Chicago Metro Labor Pool – Deep workforce base within commuting distance Flexible Commercial Zoning – Broad permitted uses including food service, retail, office, medical, and more Established Infrastructure – Terraced patio, drive-up window, ample parking, cold storage POSSIBLE USES- Restaurant / Bar · Cafe or Coffee Shop · Retail Boutique · Medical or Dental Office · Professional Office · Event Venue / Banquet Hall · Brewery or Taproom · Pet Care / Grooming · Fitness Studio · Food Truck Commissary MARKET CONTEXT- Cedar Lake Population: ~14,000 (est. 2024) Lake County Population: ~481,000 Assessed Value (2022): $530,000 Annual Property Taxes: Approx. $13,459/year
