60 Ontario St Chicago, IL 60654-3823

Property Details for 60 Ontario St

Year built

1985

Lot size

0.06 lot acres

Property size

7,100 SF

Property type

Retail space

Property subtype

Storefront properties

APN

17-09-226-012

APU

1709226012

Description

This exceptional investment opportunity presents a fee simple interest in a 9,565 square foot, four-story building at 60 West Ontario Street in Chicago's vibrant River North submarket. The property is fully occupied by the renowned Chicago Chop House under a 15-year net lease, commencing August 1, 2024, and expiring July 31, 2039. The lease includes two five-year renewal options with a 3% annual rent escalation. Built in 1897 and renovated in 2017, this single-tenant retail property boasts over 55 feet of frontage on Ontario Street, a high-traffic area with 50,382 vehicles per day. The property sits on a 0.122-acre lot and is zoned DX-5. The Chicago Chop House's consistent sales performance, exceeding pre-COVID levels by over 50% for the past three years, demonstrates the strength and stability of this established restaurant. This offering provides a unique blend of historic charm, prime location, and a secure, long-term net lease with significant upside potential. The property's strong financials, coupled with the desirability of the River North location and the tenant's proven track record, make this a compelling investment opportunity for discerning buyers. The property's APN is 17-09-226-012-0000 and 17-09-226-013-0000.