Listing provided courtesy of Century 21 UniversalMREDas Distributed by MLSGrid- MLS# 12642771MLS Provider

2309 W Devon AvenueChicago, IL 60659

Commercial · 9,300 Sq. ft.
$1,950,000 Active

2309 W Devon Avenue Overview

Time on Site:
48 days
Visits:
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.

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2309 W Devon Avenue Facts & Features

  • Type Commercial
  • Sq. ft. 9,300
  • Price/Sq.ft. $210

Details

General

Income/Expenses

  • Other Expense: 28500
  • Electric Expense: 1000
  • Existing Lease Type: Gross
  • Fuel Expense: 3000
  • Gross Income: 177600
  • Gross Scheduled Income: 177600
  • Insurance Expense: 7000
  • Net Operating Income: 128853
  • Operating Expense: 48747
  • Trash Expense: 2500
  • Water Sewer Expense: 6000

Building Information

  • Year Built: 1928

Location/Region

  • County Or Parish: Cook
  • MLS Area Major: CHI - West Ridge
  • Township: Lake View

Rent/Lease Information

  • Tenant Pays: Electricity, Heat

Tax Information

  • Tax Annual Amount: $26,178.00
  • Tax Year: 2024

General Information

  • Parcel Number: 14061010050000
  • Property Sub Type: Mixed Use
  • Property Type: Commercial Sale

Interior

Building Interior

  • Building Area Total: 9300

General Information

  • Cooling: Central Air
  • Electric: Service - 101 to 200 Amps
  • Flooring: Wood
  • Foundation Details: Concrete Perimeter
  • Stories: 3

Exterior

Lot Information

  • Additional Parcels: No
  • Lot Size Dimensions: 50 x 125
  • Lot Size Square Feet: 6250

Building Exterior/Construction

  • Construction Materials: Brick
  • Roof: Rubber

General Information

  • Number Of Units Total: 5
  • Utilities: Electric to Site,Natural Gas Available

2309 W Devon Avenue Neighborhood

Community

60659 (CHICAGO) Demographics

35
Median Age
21,613
Population Density (per sq. mile)
44%
College Educated
$54,807
Estimated Median Income
5,844
Estimated Total Home Owners
7,865
Estimated Total Renters
43% / 57%
Estimated Owner / Renter Divide
3
Estimated Average Household Size
Community data courtesy of LiveBy, Inc.

Schools

School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

2309 W Devon Avenue Monthly Cost

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

2309 W Devon Avenue Market Data

Based on the last 30 days in this zip code

$381,933
Average List Price
$310
Average Price per Square Foot
13
Properties Sold
35
Average Days on Market
59
Properties for Sale
Calculations provided by Reliance Network

2309 W Devon Avenue History

Date Event Value Agent
5/17/2026Source: MRED Status Change
Active
5/12/2026Source: MRED Added to Database
May 12, 2026