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$ 3,500,000
Est. payment /mo
Active
2948-2958 N Narragansett AVE Chicago, IL 60634
13,862 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Bus / Bus w/Real Est
Listing Status Active
Purchase Type For Sale
Square Footage 13,862 sqft
Price per Sqft $252
MLS Listing ID 12530568
Annual Tax Amount $18,859
Tax Year 2023
Lot Dimensions 125X120
Property Sub-Type Bus / Bus w/Real Est
Property 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.
Location
State IL
County Cook
Area Chi - Belmont Cragin
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Exterior
Utilities Available Electric to Site, Natural Gas Available, Water Available
Roof Type Rubber
Building
Dwelling Type Bus / Bus w/Real Est
Structure Type Brick,Wood
© 2026 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Cecil Sabu of ALLURE Real Estate