The former TheBachelorette star and The Bachelor suitor and her fiance Joe Waterman were wed in Chicago on Friday night at the Private Dining Rooms of Spiaggia, a spokesperson for the restaurant toldPeople in a Saturday report.
"She looked beautiful," a wedding guest told People. "It was a very small wedding but very fun."
The ceremony -- which was held overlooking Lake Michigan -- was followed by a reception in which Waterman's sister and best man both toasted the newlyweds.
"Joe's sister cried giving her speech, but that was it for the crying," the guest told People, adding the celebration lasted late into the night.
"We didn't hit up the dance floor until later and we were all on it past midnight."
Schefft and Waterman, a Chicago trader, got engaged last September after they met on a blind date in February 2008.
Schefft's marriage comes less than a year after her former fiance -- third-season The Bachelor star Andrew Firestone -- married model/actress Ivana Bozilovic last June.
Firestone proposed to Schefft during The Bachelor's 2003 third season finale, however after dating for several months, the couple split in December 2003.