In an ideal world, Captain John Letnik’s retirement would involve simply pulling up anchor, starting the motor and steering into the sunset aboard the M.S. Jadran — the cruise ship-turned restaurant that has been a fixture on the city’s lakeshore for decades.

But for Letnik, owner of Captain John’s restaurant at the foot of Yonge Street, the reality is more grounded. After lengthy deliberations, Letnik put his prized ship up for sale for a cool $1.5 million. The listing, on MLS, is looking for someone willing to buy the historical icon — and then some.

“The boat needs a little bit of upgrading. And it needs younger blood,” said Letnik, 72, sitting in the dining hall of his ship, looking at home in the outdated sitting room.

“More than half the ship is still empty. There is a lot of potential here for a young person,” he said. “They can make it into a hotel, a lounge, or even a casino.”

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