Chandra observations of the supermassive black hole in the nucleus of IC 1459 show a weak ( L _ { X } =8 \times 10 ^ { 40 } erg s ^ { -1 } , 0.3-8 keV ) , unabsorbed nuclear X-ray source , with a slope \Gamma = 1.88 \pm 0.09 , and no strong Fe-K line at 6.4 keV ( EW < 382 eV ) . This describes a normal AGN X-ray spectrum , but lies at 3 \times 10 ^ { -7 } below the Eddington limit . The SED of the IC 1459 nucleus is extremely radio loud compared to normal radio-loud quasars . The nucleus is surrounded by hot ISM ( kT \sim 0.5-0.6 keV ) with an average density of 0.3 cm ^ { -3 } , within the central \sim 180 pc radius , which is comparable to the gravitational capture radius , r _ { A } \sim 140 pc . We estimate that for a standard AGN efficiency of 10 % , the Bondi accretion would correspond to a luminosity of \sim 6 \times 10 ^ { 44 } erg s ^ { -1 } , nearly four orders of magnitude higher than L _ { X } . ADAF solutions can explain the X-ray spectrum , but not the high radio/X-ray ratio . A jet model fits the radio-100 \mu m and X-ray spectra well . The total power in this jet is \sim 10 % of L _ { Bondi } , implying that accretion close to the Bondi rate is needed .