Best Cheap Eats Budget Brilliance Restaurants in Magnificent Mile
2 hand-picked restaurants, critic-reviewed and ranked
Last Updated: February 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.
8.3
Vibes:
Cheap Eats Budget Brilliance
Quick Bites Champions
Comfort Food Classics
Solo Dining Sanctuaries
Devil Dawgs’ Gold Coast counter turns out thin, crispy fries and cheese fries to go with Chicago-style dogs and burgers. It’s a late-running, student-and-service-industry favorite where the fry basket is almost mandatory with any order.
Must-Try Dishes:
Hand-Cut Fries, Cheese Fries, Big Chicago Dawg with Fries
What makes it special: Fast-casual hot dog shop where crisp, salty fries and cheese fries are central to the experience.