Best Cheap Tacos Restaurants in Magnificent Mile & Streeterville (60611)
3 hand-picked restaurants, critic-reviewed and ranked
Last Updated: January 2026
Our Top Pick
Flaco's Tacos (Water Tower)
Local mini-chain spot where the focus is straightforward, well-seasoned tacos and margaritas a block off Michigan Avenue.
Notable Picks
8.5
Flaco's Tacos is a fast-casual taco counter just off the Mag Mile, turning out house-marinated steak, al pastor, and chicken tacos with margaritas at student-friendly prices. Open since 2011 in this Gold Coast/Near North stretch, it’s the most broadly validated taco-specific stop in 60611 for a quick, satisfying plate.
Must-Try Dishes:
House-Marinated Steak Taco, Ancho Chicken Taco, Al Pastor Taco
What makes it special: Local mini-chain spot where the focus is straightforward, well-seasoned tacos and margaritas a block off Michigan Avenue.
Worthy Picks
#2
Tallboy Taco
7.8
Opened in 2020 by the Lettuce Entertain You team, Tallboy Taco is a Streeterville counter-service spot for Californian-style tacos, nachos, and margaritas with a sizeable patio. The food leans more toward convenient than destination-worthy, but its $3 taco Sundays and all-day happy hour deals make it one of the more social taco options in 60611.
Must-Try Dishes:
Carne Asada Taco, Crispy Fish Taco, Masa-Crusted Avocado Taco
What makes it special: A modern Streeterville taco counter from a major local restaurant group, pairing California-influenced tacos with margaritas and a busy patio.
#3
CocoBar
7.6
On the Chicago Riverwalk just off Wabash, CocoBar serves tacos, churros, and cocktails from a compact Latin-leaning bar with patio seating overlooking the water. It’s best for carne asada tacos, walking tacos, and a round of margaritas when you want river views as much as the food.
Must-Try Dishes:
Carnitas Tacos, Steak Burrito, Churro Fries
What makes it special: Riverwalk margaritas, tacos, and churro fries under a photogenic pink facade.