2948-2958 N Narragansett Avenue,Chicago, IL 60634
Chicago, IL 60634
Description
Rare opportunity to acquire an operating tow yard business and a multi-site Chicago real estate portfolio featuring three properties: 2958 N Narragansett Ave (Montclare tow yard/commercial site), 2948 N Narragansett Ave (adjacent income-producing two-flat), and 11629 S Green St (West Pullman industrial yard). The combined real estate value is appraised at $2,500,000, with the tow yard business valued at $1,000,000 (structured to support SBA financing eligibility, subject to lender requirements). Montclare - High-Visibility Commercial Corner + Yard: Situated on a signalized, high-traffic corner on Narragansett Avenue, the commercial parcel totals approximately 11,250 SF (approx. 90' x 125') and is improved with an approx. 2,500 SF one-story masonry/frame building (automotive/heavy commercial highest & best use). Features include 16' clear ceiling heights, two oversized drive-in doors, climate-controlled office, fully fenced yard, and multiple access points from Narragansett, Wellington, and the rear alley, with full utilities (water/sewer/gas/electric). 2948 N Narragansett - Renovated Two-Flat (Income + Upside): Fully updated 2-unit building (approx. 2,837 GBA, low effective age) featuring a 3BR duplex and 1BR garden unit generating an estimated $3,100/month gross market rent (incl. water/sewer). Premium finishes include granite/marble surfaces, heated bathroom floors, luxury shower features, central A/C, hot water baseboard heat, tankless water heater, deck space, and a detached 2-car garage. Assemblage: The combined Narragansett parcels provide approximately 15,000+ SF with 120' of frontage, corner visibility, and strong redevelopment/expansion potential. West Pullman - Industrial Zoned Yard & Building: 11629 S Green St is zoned M2-1 Light Industry and includes an approx. 8,525 SF one-story masonry industrial building (c.1956) on a 51,563 SF / 1.18-acre fenced site ideal for secure storage/parking. Improvements include approx. 18' clear ceilings, two overhead doors, ceiling-hung heat, and office area with gas forced air & central A/C plus kitchen and two bathrooms. Utilities available; FEMA Zone X. Excellent regional access via I-57 (119th St) and nearby Halsted routes. Ideal for owner-users or investors seeking business + real estate, income, and industrial/commercial flexibility.
Details
| MLS # | 12530568 |
|---|---|
| Listing Type | For Sale |
| Style | Bus / Bus W/real Est |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 252 |
| Listing Provided By | ALLURE Real Estate | Cecil Sabu |
Features
| SQ Feet | 13,862 |
|---|---|
| Story(s) | 1 |
| Zoning | COMMR |
Interior
| Cooling | Central Air |
|---|
Exterior
| Roof | Rubber |
|---|---|
| Construction Materials | Brick, Wood |
Utilities
| Utilities | Electric to Site, Natural Gas Available, Water Available |
|---|
Taxes
| Tax Year | 2023 |
|---|---|
| Tax Annual Amount | 18859.4 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60634 |
| Area | CHI Belmont Cragin |
| Listing VS Median (in 60634) | |
Price: $3,500,000 low | high Med: $430,000 sqft: 13,862 low | high Med: 1,450 $ / sqft: $252 low | high Med: $297 On site: 252 low | high Med: 39 | |
Market Activity 60634
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Chicago |
| Zip Code | 60634 |
| Area | CHI Belmont Cragin |
| Listing VS Median (in 60634) | |
Price: $3,500,000 low | high Med: $430,000 sqft: 13,862 low | high Med: 1,450 $ / sqft: $252 low | high Med: $297 On site: 252 low | high Med: 39 | |