222 E Ontario St
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222 E Ontario St
7,846 SF 100% Leased 4-Star Retail Building Chicago, IL 60611 $3,500,000 ($446/SF) 6.25% Cap Rate
Investment Highlights
- Booming Streeterville location steps from Michigan Avenue, the Apple Store, Riverwalk, hotels, restaurants
- Excellent Transportation: Walk Score 93 and Transit Score 99
- 12 -foot ceiling heights
- 1-mile demographics (US Census 2023 estimate): Total Population: 118,980, Avg HH Income: $150,113, Median Home Value: $498,927, Median Age: 40
Executive Summary
Freestanding, single-tenant property in Chicago’s vibrant Streeterville submarket available for sale. Since 1978, the property has continuously housed one of Chicago’s top-rated French restaurants (2 years remain on lease).
Located east of North Michigan Avenue and on the north side of Ontario Street, the property is surrounded by a dazzling mix of commercial, office, and residential properties, including several mid- to high-rise hotels and multi-family residences, The surrounding hotels include the Hyatt Centric, Hotel EMC2 Autograph Collection, Marriott Fairfield, Aloft Chicago Mag Mile, the St. Clair. Northwestern Memorial Hospital and Medical Complex is located directly to the north and the prestigious Arts Club of Chicago is steps away.
Located east of North Michigan Avenue and on the north side of Ontario Street, the property is surrounded by a dazzling mix of commercial, office, and residential properties, including several mid- to high-rise hotels and multi-family residences, The surrounding hotels include the Hyatt Centric, Hotel EMC2 Autograph Collection, Marriott Fairfield, Aloft Chicago Mag Mile, the St. Clair. Northwestern Memorial Hospital and Medical Complex is located directly to the north and the prestigious Arts Club of Chicago is steps away.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,846 SF
Building Class
A
LoopNet Rating
4 Star
Year Built
1881
Price
$3,500,000
Price Per SF
$446
Cap Rate
6.25%
NOI
$218,750
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
2.25
Lot Size
0.08 AC
Zoning
DX-12 - The subject property is located in the DX-12. Downtown Mixed-Use District which consists of a mix of commercial, office, and residential properties.
Parking
2 Spaces (0.25 Spaces per 1,000 SF Leased)
Frontage
32 FT on Ontario St
Amenities
- Signage
Walk Score ®
Walker's Paradise (98)
Transit Score ®
Rider's Paradise (100)
Bike Score ®
Very Bikeable (82)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 17-10-203-014-0000 | Improvements Assessment | $149,880 |
| Land Assessment | $78,120 | Total Assessment | $228,000 |
PROPERTY TAXES
Parcel Number
17-10-203-014-0000
Land Assessment
$78,120
Improvements Assessment
$149,880
Total Assessment
$228,000
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222 E Ontario St
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