Cushman & Wakefield Retail Investment Advisors (“C&W”) has been retained as exclusive advisor to sell the fee simple interest in 60 West Ontario Street, Chicago, Illinois (the “Property”) – a multistory structure containing approximately 9,565 square feet occupied by the award-winning Chicago Chop House. The Property, which operates as a single-tenant restaurant, is fully occupied for an initial term of 15 years with two, 5-year options to extend, and 3% annual escalations in rent. This longterm tenant’s new net lease commenced August 1,
2024, and offers no rights for early termination or contraction in advance of natural expiration, as well as a declining-basis guaranty.The urban asset commands over 55 feet of linear frontage along the heavily trafficked Ontario Street (50,382 VPD) between Clark and Dearborn Streets in the dynamic submarket of River North.
60 West Ontario Street delivers a unique value proposition to the marketplace: a historic, finedining experience for consumers and a stable cash flow opportunity for investors. Beyond the remarkable area demographics, attributable to both local and visiting patrons, the Property will continue to benefit from efficient health ratios and attractive income growth. The sales performance at Chicago Chop House underscores the strength of operations, making 60 West Ontario Street a rare offering with compelling yields.