222 E Ontario St — Sale in Chicago, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Retail Business
  • Location: Chicago, IL 60611
  • Size: 5,846 SF

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222 E Ontario St — Sale in Chicago, IL, photo 1 of 1

Description

Discover a rare freestanding building in the dynamic Streeterville neighborhood now available for sale. This prominent property has proudly served as the home of one of Chicago’s top-rated French restaurants since 1978. Offered as a vacant, turnkey opportunity, it presents a blank canvas for your vision—perfect for a wide range of uses including hospitality, retail, or commercial ventures. North Michigan Avenue, internationally recognized as the Magnificent Mile, stands as Chicago’s premier retail destination—seamlessly combining upscale shopping, fine dining, and vibrant cultural attractions within a highly walkable urban environment. Renowned flagship retailers such as Burberry and Louis Vuitton, alongside unique destinations like the Museum of Ice Cream, attract a dynamic mix of both local residents and visitors. The corridor is further energized by a robust daytime population, bolstered by the proximity of hospitals, universities, and luxury residential communities.

Market Context

This retail in Chicago, IL is listed for sale across 5,846 SF. Compare it against other retail listings for sale in Chicago, IL — view the full market.

As of Q4 2025, the Chicago retail market showed a 5.1% vacancy rate, average asking rents near $19.00/SF/yr, rents up 2.4% year over year, and cap rates around 7.9%. Source: multiple brokerage reports, Q4 2025.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Retail market FAQ

What is the typical cap rate for retail in Chicago?
About 7.9% as of Q4 2025, per multiple brokerage reports.
Is the Chicago retail market tightening or softening?
Vacancy is around 5.1%, with asking rents rising year over year (Q4 2025).

Estimated Price per SF

$56.15/SF – $408.36/SF

Mid: $170.15/SF

Estimated price for 5,846 SF: $994,697 (range $328,253 – $2,387,273)

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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