2958 N Narragansett Avenue, Chicago, IL 60634

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.

Listing Status:

Active

Listing Office:

ALLURE Real Estate : 323-337-5339

Listing Agent:

Adam Lenchner : 312-535-8544

MLS ID:

12527047

Interior

• Laundry: Gas Dryer HookupElectric Dryer HookupSink
• Basement: None

Exterior

• Other Structures: Bldg/s No House
• Parking: ConcreteParking spaces: 0

Location

• Road/Access: ConcreteCity Street
• Originating MLS: mred
• School District: 299
• County: Cook

Lot

• Zoning: COMMR13302230120000
• Current Use: Commercial

Utilities

• Utilities: Electric to SiteNatural Gas AvailableSewer ConnectedWater Available

Financial

• Source: mred
• Ownership: Fee Simple

This listing courtesy of Adam Lenchner, ALLURE Real Estate