Open late: check.
Decent beer selection: check. (~10 on tap, including Goose Island, some Sierra Nevadas, cider, others)
Full bar: check. (I didn't try it, but they have some special mixed drinks like "Rebel Juice").
Great hot dogs: check. (from your standard chicago and chili dogs to more exotic ones like the Scott Baioli, spicy slaw, etc...all served on irresistible Hawaiian buns)
Reasonable prices: check. ($7-9 for hot dogs. $6 for a kids meal including fries and a soda)
Great location: medium. (I will definitely go before Rebel games, and don't mind driving to it once in a while, but I wish it was closer).