Under Contract

2948 N Narragansett Avenue

Chicago, IL 60634
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Acres0.09

Acre(Lot)

Presenting an exceptional opportunity in Chicago's Montclare neighborhood, this fully 2021 updated two-unit residential building blends investment stability with modern, luxury 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 just 20 years and a well-maintained condition across its 2,837 square feet of gross building area. The first-floor main duplex unit features high-end finishes throughout, including exotic rare granite kitchen countertops, marble flooring in the kitchen, dining area, and bathroom, and marble bathroom tile with heated floors. The kitchen is fully equipped with a separate cooktop, oven, warmer, dishwasher, and garbage compacto r, offering true chef-quality functionality. The lower-level space is equally upgraded with marble countertops, marble bathroom floors and walls, a luxury shower system with six body sprays, heated floors, and an overhead heat lamp for spa-level comfort. The building is optimally configured to maximize income, featuring a 6-room, 3-bedroom duplex unit and a separate 4-room, 1-bedroom garden unit, generating an estimated total Gross Monthly Market Rent of $3,100, including water and sewer. Tenant comfort is enhanced by central air conditioning, hot water baseboard heat, and a tankless water heater, along with a detached two-car garage and outdoor deck space. The neighborhood offers strong community amenities with access to multiple public and private schools, nearby parks with recreational facilities, library services, medical offices, and religious institutions. Transportation access is excellent with nearby CTA bus routes and convenient proximity to the Metra station. Additionally, this property offers a unique development upside, with the adjacent commercial site available separately, creating a combined contiguous land area of approximately 15,025 square feet with 120 feet of street frontage, ideal for future assemblage opportunities.

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Detail Ic Property Details

Property Type : Land

Price : $500,000

AD Id : 70627339

MLS Id : MRD12527189

Beds : 4

Lot Size : 0.09 Acre(Lot)

County : Cook

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Feature Features

  • Water Source

    Heating: Natural Gas
    Cooling: Central Air show

    Bedroom Information

    Total Bedroom: 4

    Bathroom Information

    Total Baths: 3 Full Baths: 3

    Room Information

    Rooms Total: 10
  • Flooring Information

    Construction Materials: Wood, Vinyl Siding

  • Lot Information

    Lot Dimensions: 30X125 Lot Acres: 0.09 Lot Size: Less Than .25 Acre

    Property Information

    Property Type: Land Sub Type: Land Type Detached: 2 Stories

  • Listing Price Information

    Original List Price:$500000

  • Tax Information

    Annual Tax: $5769.58 Tax Year: 2024 Parcel Number: 13302230130000 Tax Exemption: Homeowner

  • Parking Information

    Total Parking: 2 Concrete, Off Alley, Detached, Garage

  • School Information

    Elementary School: Beard Elementary School Junior High School: Josephine Locke Elementary Schoo
  • Utility Information

    Electric to Site, Natural Gas Available, Sewer Connected, Water Available
  • Location Information

    City: Chicago Direction: W on Belmont Ave, S on Narragansett and building is W on 2900-3000 block
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Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
4106 N Mobile Avenue, Chicago, IL, 60634 $650,000 -- -- -- 0.41 Acre(Lot)
2958 N Narragansett Ave.., Chicago, IL, 60634 $1,000,000 -- -- -- 0.26 Acre(Lot)
3932 N Oak Park Avenue, Chicago, IL, 60634 $179,900 -- -- -- 0.00 Acre(Lot)
7455 W Irving Park Road, Chicago, IL, 60634 $949,000 -- -- -- Acres (Lot)--
6333 W Cornelia Avenue, Chicago, IL, 60634 $1,299,000 -- -- -- 0.44 Acre(Lot)
2948-2958 N Narraganset.., Chicago, IL, 60634 $1,500,000 4 3 -- 0.35 Acre(Lot)
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ByOwner last updated this listing 06/21/2026 @ 06:20

MLS: MRED #12527189 LISTED BY: Adam Lenchner, ALLURE Real Estate 312-772-2820 SOURCE: Midwest Real Estate Data LLC (MRED) (Listings courtesy of Midwest Real Estate Data LLC (MRED) as distributed by MLS GRID)

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