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
See this Listing
Schools
Interior
Cooling
Central Air
Flooring
Wood
Exterior
Construction Materials
Brick
Roof
Rubber
Stories
3
Financial
Tax Year
2024
Taxes
$26,178
Map
Community
- Address2309 W Devon Avenue Chicago IL
- CityChicago
- CountyCook
- Zip Code60659
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
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Copyright 2026. All rights reserved.
2309 W Devon Avenue
Chicago, IL


