Morton's Of Chicago

Liquor sales only — total revenue is higher
Every dollar on this page comes from Mixed Beverage Gross Receipts filings — the alcohol portion of total sales. For a Steakhouse, liquor is typically only 25–40% of total business revenue. Steakhouse. Total revenue is typically 2.5–4× our liquor figure (high food average ticket). Estimated total revenue (rough): $1,865,580 – $2,984,928/year. Treat the valuation below as a screening estimate based on the alcohol portion alone.

Executive Summary

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Morton's Of Chicago is a mixed-beverage licensed establishment at 5000 WESTHEIMER RD STE 190, Houston, Texas (TABC MB262135). Over the most recent 12 months it reported $746,232 in gross alcohol sales, averaging $62,186/month with a best month of $123,353. Sales mix: ~43% liquor · 2% beer · 55% wine. The building at this address is owned by KIMCO REALTY CORPORATION (14,741 sqft, $78,159,058 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $-2,706,635 (~-363% margin). Acquisition value is estimated at $373k–$-9,473k across revenue-multiple, SDE-multiple, and cap-rate methods. All revenue figures are gross mixed-beverage receipts as filed with the Texas Comptroller; they exclude cash income such as cover charges, game machines, or merchandise.

Sales performance · last 12 months

Texas Comptroller mixed-beverage gross receipts actual

Annual gross

$746,232

Avg monthly

$62,186

Best month

$123,353

Dec 2025

Sales mix

43% Liq

2% Beer · 55% Wine

Property & occupancy

County public records + submarket comps

Building (landlord parcel)

Record ID1182120010001

Property owner (landlord)KIMCO REALTY CORPORATION

Total building SF whole parcel — Morton's Of Chicago is in STE 19014,741

Morton's Of Chicago's footprint estimated — suite-level not on file 3,500 sf

Assessed value$78,159,058

Morton's Of Chicago's share

Est. base rent ~$636/sqft/yr · 3,500 sqft · Class A $185,575/mo

NNN CAM / insurance$27,836/mo

NNN property tax$37,115/mo

Personal property tax est — no BPP record $149/mo

Total occupancy $250,676/mo

Occupancy analysis

All-in occupancy cost is 403.1% of gross revenue. Industry benchmark for healthy bars is 6–10%; 12–15% is typical for premium submarkets; above 18% is unsustainable without very strong margins elsewhere.

Profit scenarios

Texas bar cost model applied to $746,232 gross revenue estimated

Best Case

No kitchen, efficient staffing, favorable lease

~-314%

Revenue$746,232

COGS (24%)−$179,096

Labor (14%)−$104,472

Occupancy−$2,707,301

TX MB gross tax (6.7%)−$49,998

Utilities / ins / mktg (8%)−$59,699

Card surcharge net+$8,209

Net profit $-2,346,125

Most Likely

Typical bar, light food program, full two-shift staffing

~-363%

Revenue$746,232

COGS (27%)−$201,483

Labor (17%)−$126,859

Occupancy−$3,008,113

TX MB gross tax (6.7%)−$49,998

Utilities / ins / mktg (10%)−$74,623

Card surcharge net+$8,209

Net profit $-2,706,635

Stressed

Heavy food, larger crew, higher rent

~-413%

Revenue$746,232

COGS (30%)−$223,870

Labor (22%)−$164,171

Occupancy−$3,308,924

TX MB gross tax (6.7%)−$49,998

Utilities / ins / mktg (12%)−$89,548

Card surcharge net+$8,209

Net profit $-3,082,069

Disclaimer: Revenue is mixed-beverage gross receipts from the Texas Comptroller — it does not include cash income like door charges, game machines, merchandise, or event rentals (which can add 10–25% for nightclubs). Cost ratios are industry benchmarks for Texas MB-permit bars. Rent is estimated from submarket comps; property tax is from county public records pro-rated by square footage. Actual profit depends on lease terms, staffing, owner salary, and one-time costs.

Owner income estimator

Split likely net profit across ownership estimated

TABC licensee Morton's Of Chicago/Houston INC looking up officers…

Number of owners

Ownership split

Equal split (50% each)

Based on the "Most Likely" scenario net profit of $-2,706,635/year. Actual owner income depends on salary draws, distributions, debt service, and tax structure. Consult an accountant for actual income projections.

Acquisition value estimate

Based on most-likely scenario (~$-2,706,635 net) estimated

Revenue multiple

$373k–$597k

0.5–0.8× gross

SDE multiple

$-6,767k–$-9,473k

2.5–3.5× earnings

Cap rate

$-8,202k–$-10,827k

25–33%

Suggested range

$373k–$-9,473k

blended estimate

The numbers above are liquor-only: bar-style multiples applied to mixed-beverage receipts. They're the right answer for a pure bar/lounge — but for a restaurant, this is just one slice of total enterprise value (the bar program). See the food-business estimate below.

Full-business estimate · Steakhouse

If you're buying the whole restaurant, not just the bar program

We estimate this steakhouse pulls $1,865,580–$2,984,928/yr in total revenue (your liquor portion of $746,232 is roughly 25–40% of the total per industry benchmarks). Applied to that estimated total: revenue multiple 0.30–0.50×, net margin 10–15%, SDE multiple 2.5–4.0× (restaurant comps, not bar comps).

Estimated total revenue

$1,866k–$2,985k

food + liquor + service

Estimated net (10–15%)

$187k–$448k

restaurant margin

Full-business value

$513k–$1,642k

blended rev × SDE

Confidence on this estimate is lower than the liquor-only valuation above — we're inferring food revenue from category averages, not from this specific operator's books. A serious buyer should request actual P&Ls + a Schedule C / 1120S.

Federal court history

Public records · last checked 2026-05-25

Lookup pending — check back tomorrow

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Financials

Executive Summary

Sales performance · last 12 months

Property & occupancy

Occupancy analysis

Profit scenarios

Owner income estimator

Acquisition value estimate

If you're buying the whole restaurant, not just the bar program

Federal court history