2309 W Devon Avenue
Chicago, IL, 60659
$1,950,000
Beds
0 Baths
0 SqFt
0 Acres
Add
MLS #MRD12642771 image #0
Located in the heart of Chicago’s vibrant “Little India” business district along bustling Devon Avenue, this exceptional mixed-use investment opportunity combines strong cash flow, a fully renovated property in one of the city’s most recognized cultural corridors. This rare 50-foot frontage building features four oversized residential apartments plus an impressive approximately 5,000 sq. ft. state-of-the-art restaurant space at street level. Each residential units has 3 BR, 1 Bath approximately 1100 sq ft each unit, total of 12 bedrooms and 7 bath, providing strong and stable rental income in a high-demand neighborhood. The commercial component is home to a beautifully built-out restaurant with extensive infrastructure and equipment included in the sale. The current ownership has invested more than $400,000 in capital improvements over the past two years, including substantial upgrades to plumbing and electrical systems, creating a turn-key opportunity for an investor. This listing includes the real estate, restaurant fixtures and equipment. The restaurant features a large open dining area, expansive commercial kitchen, seven wok burners, two deep fryers, walk-in freezer, walk-in cooler, commercial-grade dishwasher, and additional professional kitchen equipment designed to support high-volume operations. Positioned in one of Chicago’s most heavily trafficked retail and dining destinations, the property benefits from outstanding pedestrian visibility surrounded by well-established restaurants, retailers, grocery stores, and cultural attractions that draw visitors from across the Chicagoland area. With a reported NOI of approximately $128,853, this is a rare opportunity to acquire a stabilized mixed-use asset with significant upside potential in one of Chicago’s most iconic commercial districts. Huge advantage is the low property taxes.

Property Details

Price:
$1,950,000
MLS #:
MRD12642771
Status:
Active
Beds:
0
Baths:
0
Type:
Commercial
Subtype:
Mixed Use
Neighborhood:
chiwestridge
Listed Date:
May 12, 2026
Total Sq Ft:
9,300
Year Built:
1928
Chi – West RidgeChiwestridge

Ask a Question

See this Listing

Send
  

Schools

Interior

Cooling
Central Air
Flooring
Wood

Exterior

Construction Materials
Brick
Roof
Rubber
Stories
3

Financial

Net Operating Income
$128,853
Tax Year
2024
Taxes
$26,178

Map

Community

Market Summary

Current real estate data for Commercial in Chicago as of Jun 15, 2026
921
Commercial Listed
186
Avg DOM
$993,381
Avg List Price

Property Summary

    2309 W Devon Avenue Chicago IL is a Commercial for sale in Chicago, IL, 60659. It is listed for $1,950,000

Similar Listings Nearby

broker reciprocity
MLS# MRD12640869broker reciprocity
6355 N Paulina Street
Chicago, IL

$2,500,000

0.8 miles away

broker reciprocity
MLS# MRD12583565broker reciprocity
4841 N Western Avenue
Chicago, IL

$2,495,000

1.9 miles away

broker reciprocity
MLS# MRD12387904broker reciprocity
6731-6733 N Lincoln Avenue
Lincolnwood, IL

$2,489,000

3.2 miles away

broker reciprocity
MLS# MRD12362666broker reciprocity
3705 W Grand Avenue
Chicago, IL

$2,400,000

1.7 miles away

broker reciprocity
MLS# MRD12521497broker reciprocity
3921 N Elston Avenue
Chicago, IL

$2,399,000

3.5 miles away

broker reciprocity
MLS# MRD12592954broker reciprocity
1235 W Foster Avenue
Chicago, IL

$2,250,000

2.0 miles away

broker reciprocity
MLS# MRD12544665broker reciprocity
3542 N Halsted Street
Chicago, IL

$2,250,000

4.0 miles away

broker reciprocity
MLS# MRD12452087broker reciprocity
6450-6458 S Stony Island Avenue
Chicago, IL

$2,150,000

3.5 miles away

2309 W Devon Avenue
Chicago, IL