2958 Narragansett ave - Industrial FOR SALE


Chicago, IL 60634- Montclare
$1,000,000 USD
312-772-2820
2958 Narragansett ave, Chicago, IL for Sale
$1,000,000 USD
Industrial - FOR SALE
1/14
null | Request Cap Rate

2958 Narragansett ave
Chicago, IL 60634
Montclare


OVERVIEW

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.

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$117 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2958 N Narragansett

PROPERTY TYPE

Industrial

ADD'L SUBTYPES

Auto Dealership, Storefront, Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1943

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.26

LAND SF

11,250

ZONING

C2-1

APN/PARCEL ID

13-30-223-012-0000

ASK ABOUT THIS PROPERTY

Cecil SabuALLURE Real EstateMore Info
312-772-2820

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Cecil SabuALLURE Real EstateMore Info
312-772-2820

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.