A good place to start would be to find out the number of alums in the Chicagoland area. I'm not sure whether they'd have it, but Mike Bohn's office would be a good place to start in asking that.
Then, armed with those #'s, you should put yourself in a position to show how you could help market the Buff Bar to help the owner get it going -- message boards, other CU sites, the alumni newsletter, Buff Club, etc. Also, a package of materials about CU football history, the Pac-12 invite, Larry Scott's TV deal, etc. would help. Some examples of very successful Buff sites in Cali, DC, NYC, etc. also would help. And finally, it wouldn't hurt to show that places like Playboy rate CU as the top party school in the nation, and a crowd that just loves the brew, especially expensive brands.
Bottom line -- make it worthwhile for the bar owner, and the two of you could both be winners.