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Martina Osorio

martina_osorio@hotmail.com +1(773) 485-2303

$ 500,000

Est. payment -/mo

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2948 N Narragansett AVE Chicago, IL 60634

10 Beds

3 Baths

3,920 Sqft Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Two to Four Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID 12520410

Bedrooms 10

Year Built 1922

Annual Tax Amount $5,769

Tax Year 2024

Lot Size 3,920 Sqft

Lot Dimensions 3781

Property Sub-Type Two to Four Units

Property Description

Presenting an exceptional opportunity in Chicago's Montclare neighborhood, this fully updated, two-unit residential multiunit building at 2948 N Narragansett Ave combines investment stability with modern living. Originally constructed in 1920, the property has undergone comprehensive renovations-including newer kitchens, baths, flooring, paint, and fixtures-resulting in a low effective age of only 20 years and a well-maintained condition rating across its 2,837 square feet of gross building area. The structure is optimally configured to maximize income, featuring a main 6-room, 3-bedroom duplexed unit and a separate 4-room, 1-bedroom garden unit, producing an estimated total Gross Monthly Market Rent of $3,100, which includes water and sewer utilities. Interior features contributing to tenant comfort include Central Air Conditioning, Hot Water Baseboard heat, and a tankless water heater, complemented by a detached two-car garage and outdoor deck space. The neighborhood offers strong community amenities, including highly regarded schools like Beard Elementary, Josephine Locke Elementary, and Excel Academy - Southwest High School, along with private institutions such as St. Patrick High School and Chicago Academy High School. Recreational spaces such as Riis Park (featuring tennis courts), Shabbona Park, and Rutherford Sayre Park are nearby, as are local services like the West Belmont Branch Library and various religious institutions and medical facilities. Transportation access is excellent, utilizing adequate CTA bus service networks and convenient proximity to the Mars Metra station. Furthermore, this residential property offers a substantial development benefit as it provides an immediate land assembly opportunity with the adjacent commercial site at 2958 N Narragansett Ave (available separately), which combined would create a total contiguous site of approximately 15,025 square feet of land with 120 feet of street frontage.

Location

State IL

County Cook

Area Chi - Belmont Cragin

Zoning MULTI

Rooms

Basement Finished, Full

Interior

Heating Natural Gas, Electric, Baseboard

Equipment Water Heater-Electric

Fireplace N

Exterior

Garage Spaces 2.0

Community Features Curbs, Sidewalks, Street Lights, Street Paved

Roof Type Shake

Building

Dwelling Type Two to Four Units

Building Description Brick,Frame, No

Sewer Public Sewer

Water Lake Michigan, Public

Structure Type Brick,Frame

New Construction false

Schools

Elementary Schools Beard Elementary School

Middle Schools Josephine Locke Elementary Schoo

School District 299 , 299, 299

Others

Ownership Fee Simple

Special Listing Condition List Broker Must Accompany

Listed by Cecil Sabu of ALLURE Real Estate

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CONTACT US

+1(773) 485-2303

martina_osorio@hotmail.com