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$848,888
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Property Description
***** 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 ********
Full Property Details
Full Property Details for 416 W Ontario St #C-1
General
- Price: $848,888
- Taxes: $35,299 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12540273
- Updated: 1/10/2026
- Added to Site: 14 day(s) ago
Additional Information
- Security/Safety: Alarm Monitored, Alarm on Site, Fire Extinguisher(s), Hydrants on Site, Smoke or Fire Protectors, Sprinklers (Wet)
Location
- Area: CHI - Near North Side
- County: Cook
- Driving Directions: Take the I-94 E/I-90 E freeway Take exit 50B on the right onto N Orleans St Turn left onto N Orleans St Keep right at N Orleans St Turn left onto Ontario
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Ceiling Units, Central Heat/Individual Controls
Structural Information
- Stories/Levels: 1
- Square Feet: 4,300
- Year Built: 2003
Lot Features
- Lot Size (Sq. Ft.): 5,000
- Lot Dimensions: 50 x 100
Financial Considerations
- Lease Price: $21
- For Sale/Rent/Lease: For Sale or Rent
- Security Deposit: Alarm Monitored, Alarm On Site, Fire Extinguisher/s, Hydrants On Site, Smoke or Fire Protectors, Sprinklers-Wet
- Assessment Year: 2003
- Tax Amount: $35,299.28
- Tax Year: 2023
- Tenant Pays: Varies by Tenant
Disclosures and Reports
- Property ID: 17091270361235
Listed by Charles Rutenberg Realty of IL
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Schools
Schools serving 416 W Ontario St #C-1
School District:Chicago Public School District 299
| Name | Grades | Distance |
|---|---|---|
Ogden Elementary School 24 West Walton Street, Chicago, IL 60610 | K-8 | 0.7 mi |
Wells Community Academy High School 936 North Ashland Avenue, Chicago, IL 60622 | 9-11 | 1.5 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 416 W Ontario St #C-1
Date
Details
Price
Change
Source
1/04/2026
Listed
$848,888
61.69%
MLS
2/18/2025
Sold
$525,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 416 W Ontario St #C-1
Year
Property Taxes
Change
Tax Assessment
Change
2023
$35,299
3%
$167,303
—
2022
$34,411
2%
$167,303
—
2021
$33,643
45%
$167,303
61%
2020
$23,187
11%
$104,086
—
2019
$20,912
2%
$104,086
—
2018
$20,560
68%
$104,086
83%
2017
$12,211
256%
$56,726
231%
2016
$3,432
-67%
$17,135
-70%
2015
$10,395
5%
$56,726
6%
2014
$9,945
2%
$53,603
—
2013
$9,749
-7%
$53,603
-9%
2012
$10,537
—
$58,718
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 416 W Ontario St #C-1
416 W Ontario Street #C-1, Chicago, IL 60654 (MLS# 12540273) is a Commercial property. 416 W Ontario Street #C-1 is currently listed for $848,888 and was received on January 04, 2026. Want to learn more about 416 W Ontario Street #C-1? Do you have questions about finding other Commercial real estate for sale in Near North Side? You can browse all Near North Side real estate or contact a Coldwell Banker agent to request more information.

