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Todd K. Fike

todd@thefikegroup.com +1(773) 551-8091

$ 1,000,000

Est. payment | -/mo

0.26 Acres Lot

Save

$ 1,000,000

Est. payment | -/mo

Save

0.26 Acres Lot

Key Details

Property Type Vacant Land

Sub Type Land

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12527047

Annual Tax Amount $18,301

Tax Year 2024

Lot Size 0.260 Acres

Lot Dimensions 90X125

Property Sub-Type Land

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.

Location

State IL

County Cook

Area Chi - Belmont Cragin

Zoning COMMR

Rooms

Basement None

Interior

Fireplace N

Laundry Gas Dryer Hookup, Electric Dryer Hookup, Sink

Exterior

Utilities Available Electric to Site, Natural Gas Available, Sewer Connected, Water Available

Building

Dwelling Type Land

Schools

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition None

Listed by Cecil Sabu of ALLURE Real Estate

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(773) 551-8091

todd@thefikegroup.com

1925 Main Street, Evanston, IL. 60202, Evanston, Illinois 60202, USA

2958 N Narragansett AVE Chicago, IL 60634

Todd K. Fike

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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2958 N Narragansett AVE