Listing provided courtesy of Charles Rutenberg Realty of ILMREDas Distributed by MLSGrid- MLS# 12540273MLS Provider

416 W Ontario Street #C-1Chicago, IL 60654

Commercial · 4,300 Sq. ft.
$848,888 Active

416 W Ontario Street #C-1 Overview

Time on Site:
176 days
Visits:
5

***** FOR SALE or LEASE **** Turnkey Restaurant Space | Approx. 4,300 SF | Fully Equipped | River North ****** Bring your concept and OPEN IMMEDIATELY - this is a rare opportunity to own a fully built-out, fully equipped, turnkey restaurant space in the heart of River North, one of Chicago's most sought-after dining and nightlife destinations with Seating for 50+ ************** Located on the ground floor of a boutique loft building at 416 W Ontario St, Unit C 1 offers approx. 4,300 sq ft of restaurant space with 15-foot ceilings, exposed brick, and outstanding street-level visibility. This space comes complete with EVERYTHING you need to start operating TODAY!!!! ************ This exceptional retail condo in the heart of River North, formerly a restaurant, presents a prime opportunity for a variety of retail uses or to continue as a dining establishment. * The space is in immaculate, turn-key condition, with much of the furniture, fixtures, and equipment already in place. * Covering 2,797 square feet, the property boasts soaring ceilings that create an open, welcoming atmosphere. * The thoughtfully designed layout includes two ADA-compliant restrooms and a delightful outdoor seating area, perfect for alfresco dining!! ************** Truly Turnkey - What's Included: * Full commercial kitchen: 22' ventilation hood, cook line, walk-in cooler, prep station, dishwashing area * All kitchen equipment: Ranges, ovens, fryers, sinks, refrigeration units - ready to go * Dining room furnishings: Tables, chairs, host stand, bar equipment * All smallware's: Plates, bowls, silverware, glassware, cooking tools, serving utensils - all included * Two ADA-compliant restrooms * Outdoor patio seating permitted - ideal for seasonal alfresco dining * Central air conditioning, wood flooring, and loft-style architectural details * Includes FF&E package (Furniture, Fixtures & Equipment) turnkey for restaurant use ***************** Location, Location, Location * Situated in bustling River North just steps from LaSalle & Ontario * Surrounded by established restaurants, nightlife, galleries, and high-end residences * Heavy foot traffic, strong daytime office and evening dining population * Easy access to CTA, expressways, and downtown ******************* Space Details * Total Size: Approx. 4,300 SF * Built-Out Area: Approx. 2,797 SF fully finished dining + kitchen area * Zoning: B3 - ideal for restaurant, retail, lounge, or cafe * Previously operated as a full-service restaurant - no costly buildout delays ************ Perfect For: * Restaurateurs ready to launch a new concept without the upfront cost * Established operators expanding to a second (or third) location * Franchisees looking for a downtown Chicago footprint * Investors seeking a plug-and-play restaurant property ******************* Move Fast * Inventory like this doesn't come along often in the heart of River North, one of Chicago's most sought-after dining and nightlife destinations. * Save time, save money, and skip the buildout headaches - this space is truly ready for your team to unlock the doors and start serving on Day One!! **************** CALL today to schedule a private tour and see firsthand what makes 416 W Ontario #C 1 a standout opportunity in the Chicago market. ***** FOR LEASE or SALE ********

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416 W Ontario Street #C-1 Facts & Features

  • Type Commercial
  • Sq. ft. 4,300
  • Price/Sq.ft. $197

Details

General

Association/HOA

  • Association Fee Frequency: Not Applicable

Income/Expenses

  • Existing Lease Type: Modified Gross
  • Net Operating Income: 9999999

Building Information

  • Year Built: 2003

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - Near North Side

Rent/Lease Information

  • Tenant Pays: Varies by Tenant

Tax Information

  • Tax Annual Amount: $35,299.28
  • Tax Year: 2023

General Information

  • Parcel Number: 17091270361235
  • Property Type: Commercial Sale

Interior

Building Interior

  • Building Area Total: 4300

General Information

  • Cooling: Central Air
  • Electric: Circuit Breakers, Over 600 Amps, Power - 480V, Heavy Power 1200+ Amps, 220 Volts, 440 Volts, Other
  • Leasable Area: 4300
  • Stories: 1

Unit Information

  • Unit SqFt.: 4300
  • Unit Number: C-1

Exterior

Lot Information

  • Additional Parcels: No
  • Lot Size Dimensions: 50X100
  • Lot Size Square Feet: 5000

416 W Ontario Street #C-1 Neighborhood

Community

60654 (CHICAGO) Demographics

33
Median Age
34,153
Population Density (per sq. mile)
89%
College Educated
$128,101
Estimated Median Income
4,958
Estimated Total Home Owners
8,223
Estimated Total Renters
38% / 62%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

416 W Ontario Street #C-1 Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

416 W Ontario Street #C-1 Market Data

Based on the last 30 days in this zip code

$812,484
Average List Price
$575
Average Price per Square Foot
67
Properties Sold
61
Average Days on Market
163
Properties for Sale
Calculations provided by Reliance Network

416 W Ontario Street #C-1 History

Date Event Value Agent
6/15/2026Source: MRED Status Change
Rented
6/13/2026Source: MRED Status Change
Active
6/13/2026Source: MRED Status Change
Active
6/8/2026Source: MRED Price Increase
$848,888 27.7%
6/8/2026Source: MRED Price Increase
$848,888 27.7%
6/8/2026Source: MRED Status Change
Price Change
6/8/2026Source: MRED Status Change
Price Change
5/8/2026Source: MRED Status Change
Active
5/8/2026Source: MRED Status Change
Active
5/3/2026Source: MRED Price Reduction
$664,888 -14.2%
5/3/2026Source: MRED Price Reduction
$664,888 -14.2%
5/3/2026Source: MRED Status Change
Price Change
5/3/2026Source: MRED Status Change
Price Change
3/27/2026Source: MRED Status Change
Active
3/27/2026Source: MRED Status Change
Active
3/22/2026Source: MRED Price Reduction
$774,888 -8.7%
3/22/2026Source: MRED Price Reduction
$774,888 -3.0%
3/22/2026Source: MRED Status Change
Price Change
3/22/2026Source: MRED Status Change
Price Change
2/4/2026Source: MRED Status Change
Active
1/30/2026Source: MRED Price Reduction
$798,888 -5.9%
1/30/2026Source: MRED Status Change
Price Change
1/9/2026Source: MRED Status Change
Active
1/9/2026Source: MRED Status Change
Active
1/4/2026Source: MRED Added to Database
January 04, 2026
1/4/2026Source: MRED Price Increase
$848,888 9,770.8%
1/4/2026Source: MRED Price Increase
$8,600 72.0%
1/4/2026Source: MRED Status Change
Price Change
10/27/2025Source: MRED Status Change
Active
10/22/2025Source: MRED Added to Database
October 22, 2025
6/20/2022Source: MRED Added to Database
January 27, 2022