46
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$1,950,000
Est. payment /mo
9,300 SqFt
New
2309 W Devon AVE Chicago, IL 60659
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Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
Square Footage 9,300 sqft
Price per Sqft $209
MLS Listing ID 12642771
Year Built 1928
Annual Tax Amount $26,178
Tax Year 2024
Lot Dimensions 50 x 125
Property Sub-Type Mixed Use
Property Description
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 unit is configured as a spacious 3-bedroom, 1-bath apartment, 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.
Location
State IL
County Cook
Area Chi - West Ridge
Interior
Cooling Central Air
Flooring Wood
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available
Roof Type Rubber
Building
Dwelling Type Mixed Use
Structure Type Brick
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Listed by Shafeeq Khaja of Century 21 Universal
NEARBY SCHOOL & BUSINESS
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