The Most Expensive Restaurants In Indiana, And Which Ones Locals Actually Recommend

Indiana might not be the first place that comes to mind when you think about high-end dining, but the state has a surprisingly vibrant fine dining scene that can rival cities far larger than Indianapolis.

From aged steaks to tasting menus that feel like they belong in New York or Chicago, some of these restaurants charge prices that will make you look twice at the bill.

What makes it even more interesting is that locals are not shy about sharing which ones are truly worth every penny. Whether you are planning a special celebration or just want to treat yourself, this guide covers the most expensive restaurants in Indiana and the ones that real residents keep coming back to.

1. St. Elmo Steak House

Few restaurants in Indiana carry the kind of reputation that St. Elmo Steak House has built over more than a century of serving guests. Located at 127 S.

Illinois St. in downtown Indianapolis, this legendary steakhouse has been a fixture since 1902. That kind of staying power says something real about the quality on the plate.

The menu leans into bold, classic steakhouse flavors with no apologies. The Tomahawk Rib-eye is the crown jewel, priced between $135 and $150 depending on the cut.

Prices across the menu reflect a commitment to premium ingredients and an experience that matches the investment. Locals consistently point to St. Elmo as the gold standard for a special-occasion dinner in Indiana.

The shrimp cocktail, served with a famously fierce horseradish sauce, has become almost a rite of passage for first-time visitors. Many regulars say it is the kind of meal you remember long after the bill is paid.

Service here is polished without feeling stiff. The dining room has a warm, old-world energy that feels genuinely lived-in rather than staged.

St. Elmo is not just the most expensive restaurant in Indiana for many guests, it is also the most recommended, which is a combination that is harder to pull off than it sounds.

2. Vida

Vida sits right on the edge of Lockerbie Square at 601 E. New York St. and represents some of the most ambitious cooking happening anywhere in the state.

It holds an AAA Four Diamond designation, which puts it in rare company for Indiana dining. The atmosphere is polished and contemporary, with a design that feels intentional rather than decorative.

The format is a four-course, multiple-choice dinner menu where each selection reflects careful sourcing and refined technique. Guests choose from a rotating set of options for each course, making the experience feel personal without being overwhelming.

Prices land firmly in the fine dining range, and the kitchen earns every dollar of it. Locals who have tried Vida often describe it as the closest thing to a Michelin-starred experience available in Indiana.

Many consider it the best meal they have had in Indianapolis, full stop. That is high praise in a city where the food scene has grown considerably over the past decade.

The service team understands the room and the menu equally well. Portions are thoughtful rather than oversized, which lets each course carry its own weight without fatigue.

For anyone who has traveled to Chicago or New York for a serious tasting menu and wondered if Indiana could offer something comparable, Vida is a convincing answer.

3. Ocean Prime

Ocean Prime brings a nationally recognized upscale dining brand to Indianapolis with a location at 8555 River Rd. near the Keystone Crossing area. The restaurant blends a prime steakhouse menu with an extensive seafood program, creating a broad selection that suits different tastes without losing focus.

The result is a menu that feels both indulgent and well-considered. Pricing reflects the premium nature of the ingredients and the service model.

Seafood towers, dry-aged steaks, and composed entrees all land at price points that signal this is a destination dinner rather than a casual night out. The space itself reinforces that expectation with a sleek, modern interior that manages to feel warm rather than cold.

Guests frequently mention the seafood presentations as a highlight, particularly the chilled shellfish selections that make for an impressive start to a meal. The kitchen handles both land and sea with equal confidence, which is not always the case at combination steakhouse-seafood concepts.

That consistency is one reason the restaurant has built a loyal following in Indianapolis. Ocean Prime appeals to both business diners and couples celebrating milestones, and the staff seems comfortable shifting between both modes.

For a city that has seen its restaurant scene mature rapidly, Ocean Prime represents the kind of polished, reliable luxury that locals return to when the occasion calls for something genuinely impressive.

4. Del Frisco’s Double Eagle Steakhouse

Del Frisco’s Double Eagle Steakhouse at 14 W. Maryland St. in Indianapolis occupies a beautifully preserved space in the heart of downtown.

The setting inside is dramatic in a way that feels earned rather than overdone. High ceilings, rich wood finishes, and live piano music create an atmosphere that signals from the first step inside that this is not an ordinary dinner.

The menu centers on USDA Prime beef aged to specification, with cuts ranging from classic filets to massive bone-in options that are clearly designed to impress. Side dishes are priced separately, which is standard for this tier of steakhouse but still something to factor into the total.

The bill for two can climb quickly, and most guests seem to expect that going in. What keeps locals coming back is the consistency.

In a city where restaurant quality can fluctuate, Del Frisco’s tends to deliver a reliable premium experience across visits. The service is attentive without being intrusive, and the kitchen handles a high-volume dining room without letting quality slip.

The prime location adds a layer of occasion to the meal that is hard to replicate elsewhere. Dining here on a weekend evening, with the city lit up outside and live music filling the room, feels like a genuine event.

It is the kind of place that makes a birthday or anniversary feel properly celebrated rather than just marked.

5. The Oceanaire Seafood Room

The Oceanaire Seafood Room at 30 S. Meridian St. in Indianapolis has long been one of the city’s go-to destinations for serious seafood.

The concept is built around daily-flown-in fish and shellfish, with a menu that changes to reflect what is freshest rather than what is most convenient. That commitment to sourcing is reflected in the prices, which sit firmly in the high-end range.

The interior carries a classic supper club feel, with curved booths, warm lighting, and a design language that nods to mid-century American dining. It is a comfortable space that does not try to be trendy, which gives it a kind of timeless quality that works well for both celebrations and business meals.

The room feels like it has always been there, which is a compliment.

Guests who visit regularly tend to highlight the whole-fish preparations and the raw bar as standout sections of the menu. The kitchen handles delicate proteins with care, and the sauces and accompaniments are thoughtful rather than distracting.

For a landlocked state, the quality of seafood available at Oceanaire is genuinely surprising.

Locals who love seafood but do not want to travel to a coast for a proper meal often point to Oceanaire as their answer. The price point is real, but so is the quality.

It earns its place among Indiana’s most expensive restaurants by delivering on the promise of a premium seafood experience.

6. Eddie Merlot’s

Eddie Merlot’s at 3645 E 96th St, Indianapolis, IN 46240, United States, blends the soul of a classic steakhouse with a slightly more relaxed modern sensibility.

The name might not carry the same century-old weight as some of its competitors, but the kitchen operates with the same level of seriousness when it comes to the beef program.

Prime-aged steaks are the centerpiece, and they are treated accordingly.

The dining room has a warm, amber-toned feel that makes the space inviting rather than intimidating. Leather seating, soft lighting, and attentive service create an environment where guests tend to settle in and take their time.

That pacing is part of the experience here, and the staff seems to understand the value of not rushing a table through a meal.

Regulars appreciate the consistency of the steaks, which arrive at the right temperature and with the kind of crust that only comes from a properly seasoned, high-heat cook. The sides are generous and well-executed, making the overall value feel reasonable even at the higher price points.

The seafood selections round out the menu for guests who want an alternative to beef.

For locals in the north Indianapolis area, Eddie Merlot’s fills a gap that can be hard to find closer to downtown. It offers genuine fine dining quality without requiring a trip to the city center.

That convenience, combined with reliable food, has earned it a loyal base of repeat guests who return for birthdays, anniversaries, and quiet weeknight splurges.

7. Prime 47 Steakhouse

Prime 47 Steakhouse operates locations in both Indianapolis and Carmel, Indiana, with the Carmel outpost at 14300 Clay Terrace Blvd, sitting in the heart of the Carmel Arts and Design District.

The restaurant’s name is a nod to the USDA Prime designation, which applies to only the top tier of beef available in the country.

That focus on grade is not just marketing, it shows up on the plate.

The interior leans into a moody, modern aesthetic with dark tones, marble surfaces, and lighting designed to make everything look its best. It is the kind of room where a special dinner feels properly framed rather than just adequately housed.

The attention to environment matches the attention to the food, which makes the overall experience feel cohesive.

Guests regularly point to the dry-aged selections as a reason to return, with cuts that develop deep, complex flavor through careful aging. The menu also includes seafood and composed dishes for guests who want variety, but the steaks are clearly the main event.

Pricing reflects the quality of the raw ingredients as much as the preparation.

Carmel has developed into a genuine dining destination in its own right, and Prime 47 is one of the restaurants that helped build that reputation.

Locals in the northern suburbs consider it a reliable anchor for celebrating life’s bigger moments, and the kitchen has earned that trust through consistent execution over time.

8. Peterson’s

Peterson’s at 7690 E. 96th St. in Fishers has been a reliable anchor for upscale dining in the northern Indianapolis suburbs for years.

The restaurant operates with a classic American fine dining sensibility, offering a menu built around prime cuts, fresh seafood, and housemade preparations that reflect genuine kitchen effort.

It is the kind of place that does not need to reinvent itself because it already does what it does very well.

The dining room feels comfortable in the way that only comes from years of refinement. Warm wood tones, soft lighting, and well-spaced tables create an atmosphere that feels private and unhurried.

Guests tend to dress up slightly for Peterson’s, not because they have to but because the room seems to invite it naturally.

Locals in Fishers and the surrounding communities treat Peterson’s as their default answer to the question of where to go for a serious dinner. It sits at a price point that requires intention but delivers enough in return to make that intention feel worthwhile.

The service staff tends to be experienced, which makes a noticeable difference in how a meal flows from start to finish.

For anyone who assumes that the best dining in Indiana is exclusively concentrated downtown, Peterson’s is a useful correction. The suburbs have their own culinary anchors, and this restaurant is one of the strongest.

Its combination of quality, consistency, and neighborhood loyalty makes it genuinely deserving of its reputation.

9. Commission Row

Commission Row at 110 S Delaware St, in downtown Indianapolis represents a newer generation of high-end dining that blends the steakhouse tradition with a raw bar program and a design sensibility rooted in the building’s industrial heritage.

The space occupies a historic location and the renovation honors that history without turning it into a museum.

Exposed brick, dark wood, and clean lines give the room a confident, contemporary feel.

The menu is built around premium steaks and carefully sourced seafood, with a raw bar that functions as both a visual centerpiece and a serious culinary statement.

Oysters, crudo, and chilled shellfish sit alongside dry-aged cuts and composed entrees, creating a menu that rewards guests who want to explore rather than just order the usual.

Prices match the ambition of the offering.

Locals who have visited Commission Row often describe it as feeling fresh in a market where steakhouse formats can start to blur together. The kitchen brings a level of creativity to classic formats that keeps the experience from feeling routine.

That balance between familiarity and surprise is genuinely difficult to achieve, and the restaurant manages it with apparent ease.

Downtown Indianapolis has no shortage of upscale options, but Commission Row has carved out a distinct identity rather than simply occupying a market niche.

For guests looking for a premium meal that also feels current and considered, it has become one of the stronger recommendations locals offer when the conversation turns to where to eat well in Indiana.