The Esquire Theatre is trading movie premieres for prime cuts. A new luxury steakhouse, fittingly called Esquire, is moving into the storied Oak Street landmark, with plans to turn the former cinema into a multilevel, high-end dining playground. Expect Wagyu on the menu, a seafood and sushi spread, a 12-seat omakase counter, and a private members club, all wrapped in a splashy, hospitality-forward experience in the heart of the Gold Coast's designer strip at 58 East Oak Street.
Local scoop
Crain's Chicago Business first reported the project on May 29, outlining the plan to flip the onetime movie house into an upscale steakhouse. Reporter Ally Marotti flagged the move as the latest big-ticket dining play in the Gold Coast.
What's planned for the space
A press release via ACCESS Newswire lays out the blueprint. Esquire, an MStreet Collective concept headed by founder Chris Hyndman, is slated to seat about 265 diners. The menu is built around a top-tier Wagyu program, with support from a global seafood and sushi lineup, a dedicated fish-aging program, and a soaring four-level wine tower. A 12-seat omakase bar dubbed ŌakSho is planned as one of the marquee experiences. Upstairs, the second floor is set to host the invitation-only 58 Club, designed for members and private gatherings.
From marquee to meat: the building's past
The address at 58 East Oak Street has seen plenty of reinventions. The building debuted as the Esquire Theatre in 1938 before eventually shifting into a mix of retail and dining. After a major conversion in 2012, it became home to Del Frisco's Double Eagle Steak House, a splashy tenant that later went dark in late 2018, leaving the dramatic theater shell open to new concepts. PR Newswire chronicled Del Frisco's 2012 opening, while Eater Chicago covered its closure.
What it means for Oak Street
The scale of Esquire and its private-club angle fit neatly into Oak Street's ongoing pivot toward ultra-high-end dining and hospitality as a complement to its luxury retail neighbors. The former theater has been a magnet for serious money, reflecting the corridor's evolution into a designer showcase rather than any kind of traditional theater district. Bisnow has previously detailed the hefty investment and redevelopment activity orbiting the Esquire site.
Timing and next steps
The project team has not released a concrete opening date. Press materials instead point interested diners and industry watchers to the restaurant's website and media contacts for updates, according to the press release. That release also notes that limited-seat experiences such as the ŌakSho omakase will come with premium price tags. The actual debut will hinge on city permitting, licensing, and the pace of the buildout.
If Esquire opens as advertised, the former movie house could land back in the spotlight as one of Oak Street's hardest-to-book reservations, pairing theatrical design with high-end Japanese and French techniques. Look for more details as the team moves through city approvals and reveals additional plans for the space.
