Rachel SmithThere’s something genuinely magical about the sizzle of a premium cut hitting a hot grill, sending rich, buttery aromas through a dimly lit dining room.
If you’re planning a romantic anniversary dinner or arranging a professional corporate meeting, finding the right spot matters! Luckily, the local culinary scene is packed with incredible options tailored for dedicated food enthusiasts.
However, tracking down the truly best steakhouse in Indianapolis requires a keen eye and an empty stomach. To help you find your next best spot, I’ve explored the city’s top-rated venues.
Read on for my reviews of unforgettable dining destinations where perfectly seared meats and exceptional service are always on the menu!
How much does dining in a steakhouse cost in Indianapolis?
Dining in steakhouses in Indianapolis generally ranges from $25 to $50 per person for moderate options, while high-end fine-dining experiences typically cost between $90 and $150, or more, for a full meal.
| Dining Category | Typical Cost Per Person |
| Moderate/Classic Steakhouses | $25 – $50 |
| High-End/Fine Dining | $100 – $150+ |
1. St. Elmo Steak House
Website: https://www.stelmos.com/
Address: 127 S Illinois St
Contact: +1(317)635-0636
Hours: Monday–Thursday: 4:00 PM – 10:00 PM; Friday: 4:00 PM – 11:00 PM; Saturday: 3p:00 PM – 11:00 PM; Sunday: 4:00 PM – 9:00 PM
Stepping into this historic landmark instantly transports you back to 1902; it’s actually Indianapolis’s oldest steakhouse, still operating in its original location!
The traditional atmosphere sets the stage for their world-famous, incredibly spicy signature shrimp cocktail, which has remained a beloved staple for generations.
I can confidently say the sinus-clearing horseradish sauce on those massive shrimp is an absolute revelation, perfectly teeing up the rich flavors of their premium dry-aged steaks.
I also appreciate how the waitstaff navigates the busy floor with practiced ease. Every glass is kept full, and every request is met.
Finally, their award-winning wine cellar is massive, offering the perfect vintage to pair with your sizzling chops.
With all these perks, it’s no surprise that their prices are significantly higher than average dining options, so the steep cost might outweigh the value for a casual, everyday dinner.
Perfectly cooked and tender steak.
My experience at St. Elmo’s was delightful, the food is the star here, the attention to detail in the cooking process and intensity of flavor throughout the meal were evident. My server was very attentive and provided great insight for a first timer. I highly recommend this restaurant for its deeply rooted history and high end quality of freshness and preparation. The best part was the contrast in flavors throughout the meal, from the bold and intense shrimp cocktail to the perfectly cooked and tender steak, this is a meal worth any occasion.
- Anthony Yrigoyen | Google Review
Could not recommend St Elmo more.
Ate an incredible meal here while in town for the IMSA Race at the Indianapolis Speedway. This was September 2023. I am still telling people about the steak and the shrimp. Service was excellent, atmosphere is very old school feeling and makes everything seem very intimate. Could not recommend St Elmo more. Thanks for the experience.
- Andy Wood | Google Review
2. Prime 47- Indy’s Steakhouse
Website: https://prime47.com/
Address: 47 S Pennsylvania St
Contact: (317) 624-0720
Hours: Monday-Saturday: 5:00 PM – 9:30 PM
Finding a uniquely personalized touch in a downtown dining scene can be tricky, but this locally owned establishment delivers beautifully.
Housed in the historic Majestic Building, Prime 47 Indy’s Steakhouse enchants visitors with its 19th-century architecture, complete with original tile floors and stunning marble columns.
This gorgeous setting provides an ideal backdrop for romantic celebrations or important corporate gatherings.
Beyond the elegant ambiance, the kitchen strictly serves USDA Prime beef to guarantee exceptional flavor and tenderness in every bite.
They also impress with a robust selection of fresh seafood and a comprehensive wine list showcased in a dramatic visual vault.
Unfortunately, the busy central location often makes guests heavily reliant on valet parking, which adds extra cost and annoying wait times to the end of the evening.
Tomahawk steak was cooked beautifully.
The service was really good and the food was even better. Had a tomahawk steak which was cooked beautifully. The French onion soup was really good as well. Calamari appetizer was the best I’ve ever had!
- David W | Google Review
The most tender steak I have ever had!
Wonderful meal. They were so accommodating when we requested a booth or something a little more private. The servers were very tentative and the food was absolutely amazing. The most tender steak I have ever had!
- Angela Patsey | Google Review
3. Fogo de Chão Brazilian Steakhouse
Website: https://fogodechao.com/
Address: 117 E Washington St
Contact: (317) 638-4000
Hours: Monday-Thursday: 11:30 AM – 10:00 PM; Friday-Saturday: 11:30 AM – 10:30 PM; Sunday: 11:30 AM – 9:00 PM
Meat lovers looking for an interactive feast will find an authentic churrasco experience at Fogo de Chão Brazilian Steakhouse, where skilled gaucho chefs carve roasted meats right at your table.
Before the main event, the expansive Market Table tempts diners with fresh seasonal salads, exotic vegetables, and beautifully imported cheeses.
I always make sure to arrive with a fierce appetite to fully enjoy the continuous all-you-can-eat format, which makes sampling a diverse range of lamb, chicken, and beef cuts incredibly fun.
This place is also an exceptionally accommodating spot for large groups, especially since the robust salad bar caters effortlessly to vegetarian friends. Plus, the vibrant energy makes it a fantastic destination for celebrations and group dinners.
However, the relentless pace of the tableside service and the bustling atmosphere can feel quite overwhelming if you’re seeking a slow, intimate, and quiet dining experience.
Appreciate the friendly staff and amazing food!
The meat just kept coming! Steak, Lamb, Chicken, Sausages… wow! Six of us ate lunch here and we had a blast. 💥 We joked. We laughed! We were stuffed! Appreciate the friendly staff and amazing food! The restaurant was appropriately festive.
- Lee Roberts | Google Review
Service is excellent, the atmosphere is solid, and the food is exquisite.
It is always money well spent whenever you find yourself in a Brazilian steak house, Fogo de Chão just takes it a step further. Service is excellent, atmosphere is solid, food is exquisite. You should try it out
- Timmy Ayoola | Google Review
4. Harry & Izzy’s
Website: https://www.harryandizzys.com/
Address: 153 S Illinois St
Contact: (317) 635-9594
Hours: Monday – Thursday: 11:00 AM – 10:00 PM; Friday–Saturday: 11:00 AM – 11:00 PM; Sunday: 12:00 PM – 9:00 PM; Happy Hour Sunday – Thursday: 4:00 PM – 6:00 PM
Enjoying premium cuts in a relaxed, speakeasy-inspired atmosphere is the major draw of this popular sister restaurant to St. Elmo.
At Harry & Izzy’s, you can savor the same world-famous spicy shrimp cocktail and high-quality beef, but in a much more versatile, approachable environment.
I love how their diverse menu goes far beyond traditional red meat, offering fantastic signature thin-crust pizzas and sandwiches that rival many top restaurants in the area.
This place is also one of the few high-end spots open for midday meals, making it an excellent destination for a luxurious business lunch.
Regardless of the time, though, the culinary execution remains consistently superb.
The only notable drawback is the lively, bustling dining room, which often reaches high noise levels during peak dinner hours, making quiet conversations difficult.
The steak was cooked perfectly and tasted great.
Stopped in for a nice lunch for our anniversary. Shrimp Cocktail didn’t disappoint. It was amazing, Steak and Porkchop both cooked perfectly and tasted great. Also had a smoked old-fashioned, was yummy to finish dinner with. Service was fast, friendly and very helpful. Will go again.
- shane boehmke | Google Review
The service was impeccable.
What a wonderful restaurant. I proposed to my significant other this evening and we came here to celebrate. We had never been but decided to try it out. Our server, Whitney was amazing. Everything we had from the shrimp appetizer, the ribeye steak, and the Radiator Pasta with Chicken and even the drinks were delicious. The service was impeccable and you can tell everyone here cares about the food they serve and the service they offer. I can’t wait to be back.
- Paul Lopez | Google Review
5. Del Frisco’s Double Eagle Steakhouse
Website: https://www.delfriscos.com/
Address: 14 W Maryland St
Contact: (463) 271-4304
Hours: Sunday-Thursday: 4:00 PM – 9:00 PM; Friday-Saturday: 4:00 PM – 10:00 PM
Diners seeking a bold, modern, and highly polished corporate fine-dining experience will be thoroughly impressed by the grand architecture of this luxury chain.
Del Frisco’s Double Eagle Steakhouse’s opulent, multi-story dining room leaves a powerful first impression, setting the stage for perfectly seared USDA Prime beef and incredible wagyu options.
An on-staff sommelier expertly guides guests through an award-winning wine list, ensuring every glass complements the decadent, family-style side dishes, such as their rich lobster macaroni and cheese.
The striking aesthetic and premium ingredients undeniably deliver an upscale, unforgettable feast. It offers a level of refined hospitality that is just as meticulous as a high-end Asian restaurant, though with a distinctly American flavor profile.
However, the distinctly corporate atmosphere lacks the deep historic charm of local, indigenous establishments, which might deter those seeking a highly localized, intimate vibe.
We will definitely be back!
This was my second time dining at Del Frisco’s. Tonight was even better than the first visit. Joshua made sure to explain everything in the menu and helped us make selections. The sea bass was amazing! Very light and buttery. As well, the prime steak with Gorgonzola was cooked to perfection! We will definitely be back!
- Marmiko DeCeita | Google Review
Definitely stop by here if you can.
I will have to say this is one of the better Del Frisco‘s. I’ve been to. Actually, I’ll make a better statement . This is the best one I’ve been to. Definitely felt more high-end than the rest of the other restaurants I’ve been to from the greeting to the staff waiter and manager all were very professional and attentive. Would definitely recommend this and would definitely come back. We had the seafood tower was excellent pretty much. Everybody had steaks, different varieties and everybody loved each steak. The sides were all spectacular. Definitely stop by here if you can.
- Dan M | Google Review
