LOT SIZE 0.260 acres
MLS#12527047
STATUSActive
PROPERTY TYPELand - Commercial
SCHOOLDistrict 299
Property Description
Secure a strategic commercial asset at 2958 N Narragansett Ave, featuring a high-visibility, corner signalized site spanning 11,250 square feet (with dimensions of 90 X 125) in Chicago's Montclare neighborhood, located directly on Narragansett Avenue, a main north/south thoroughfare. This prime rectangular parcel is improved with a solid one-story, 2,500 square foot, masonry and frame constructed commercial/auto repair type building, originally built in 1942 (82 years old) and currently maintained in average overall condition. This property's continued operation as a commercial development is recognized as the highest and best use of the improved site. The turn-key commercial structure offers critical operational features necessary for heavy motor vehicle users, including impressive 16 foot clear ceilings in the shop area, two large overhead doors, dedicated small office space that is separately climate-controlled, and a fully fenced yard. The site boasts optimal access from Narragansett, Wellington Avenue (frontage along Wellington), and a crucial rear alley featuring multiple curb cuts. All normal utilities, including sewer, water, gas, and electricity, are available to the site. For strategic developers or expanding businesses seeking maximum density, the commercial parcel offers an immediate land assembly opportunity with the adjacent residential income property at 2948 N Narragansett Ave, which is separately available for purchase. Consolidating both adjacent parcels creates a substantial contiguous site totaling approximately 15K+ total square feet of land, offering estimated overall combined dimensions of 120 feet of frontage on Narragansett by 125 feet deep. The neighboring 2948 N Narragansett property is a complementary two-unit residential multi-family building totaling 2,837 square feet of gross building area, featuring recent updates and would generate an estimated $3,100 gross monthly market rent from its two units (a 1-bedroom garden unit and a 3-bedroom duplexed unit). This rare combined offering presents immense potential for an integrated commercial operation, significant expansion, or complete ground-up redevelopment opportunity.
Property Features
Property Type: Land - Commercial
Basement: None
Lot Size: 0.26 Acres
Taxes: $18,301
Feature Descriptions
Additional Structures: Bldg/s No House
Current Use: Commercial
Frontage: 120
Frontage Type: City Street
Lot Dimensions: 90X125
Parcel#: 13302230120000
Possible Use: Commercial, Condominium, Industrial, Office, Multi-Family, Single Family, Retail, Special Use, Other
Road Surface: Concrete
Township: Jefferson
Utilities: Electric to Site, Natural Gas Available, Sewer Connected, Water Available
Local Schools
School District: District 299
Listed By / Shown By
Listed By
Agency Name: ALLURE Real Estate
Agency Phone: 312-772-2820
Shown By
Agency Title: Berkshire Hathaway HomeServices Crosby Starck Real Estate
Agency Phone: 815-397-4040
Estimate Your Payment
Estimated Payment
$ 4,042.32 per month $2,225.57 Principal & Interest $1,525.08 Property Tax $291.67 Homeowner's InsuranceChange Payment Information
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2958 N Narragansett Avenue | MLS# 12527047
This land located at 2958 N Narragansett Avenue, Chicago, IL 60634 is currently listed for sale with an asking price of $1,000,000. The property has approximately 0.26 Acres. N Narragansett Avenue is located within the District 299 school district. Search Chicago real estate on www.bhhscrosby.com today.